DNB Bank ASA (OTCMKTS:DNBBY) Short Interest Update

DNB Bank ASA (OTCMKTS:DNBBY) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 24,252 shares, an increase of 195.9% from the July 15th total of 8,197 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 63,995 shares, the days-to-cover ratio is presently 0.4 days.

DNB Bank ASA Stock Performance

OTCMKTS:DNBBY traded up $0.33 during midday trading on Friday, hitting $33.15. The company’s stock had a trading volume of 4,704 shares, compared to its average volume of 55,283. DNB Bank ASA has a fifty-two week low of $25.26 and a fifty-two week high of $33.81. The firm’s 50 day moving average is $30.76 and its 200-day moving average is $30.80. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.70 and a quick ratio of 1.70. The firm has a market cap of $51.39 billion, a P/E ratio of 11.84, a P/E/G ratio of 9.10 and a beta of 0.65.

DNB Bank ASA (OTCMKTS:DNBBY) last announced its quarterly earnings results on Tuesday, July 14th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. DNB Bank ASA had a return on equity of 13.97% and a net margin of 21.34%.The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.28 billion. Equities analysts anticipate that DNB Bank ASA will post 2.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DNBBY. Citigroup reiterated a “neutral” rating on shares of DNB Bank ASA in a report on Wednesday, July 8th. Morgan Stanley restated an “underweight” rating on shares of DNB Bank ASA in a report on Wednesday, June 24th. Zacks Research downgraded DNB Bank ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 8th. The Goldman Sachs Group lowered DNB Bank ASA from a “hold” rating to a “sell” rating in a research note on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of DNB Bank ASA in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

About DNB Bank ASA

DNB Bank ASA (OTCMKTS: DNBBY) is Norway’s largest financial services group, offering a broad range of banking, insurance and capital markets services to retail, corporate and institutional clients. The bank’s core activities encompass retail and commercial banking, corporate and investment banking, asset management, life insurance and pension products, as well as payment and card services. DNB provides traditional deposit and lending products, mortgages, savings and wealth management solutions, securities trading, corporate finance and treasury services.

The group operates through several specialized business lines, including DNB Markets for investment banking and capital markets activities and DNB Asset Management for portfolio management and investment funds.