DNB Bank ASA (OTCMKTS:DNBBY) Posts Earnings Results, Meets Expectations

DNB Bank ASA (OTCMKTS:DNBBY) issued its quarterly earnings data on Wednesday. The company reported $0.69 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.69, Zacks reports. DNB Bank ASA had a return on equity of 13.97% and a net margin of 21.34%. The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.26 billion.

DNB Bank ASA Price Performance

Shares of OTCMKTS DNBBY opened at $33.63 on Thursday. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.70 and a current ratio of 1.70. The company has a market cap of $52.14 billion, a PE ratio of 12.01, a P/E/G ratio of 9.30 and a beta of 0.70. The business has a 50-day simple moving average of $33.31 and a two-hundred day simple moving average of $31.77. DNB Bank ASA has a fifty-two week low of $25.26 and a fifty-two week high of $34.78.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DNBBY. Barclays cut shares of DNB Bank ASA from an “overweight” rating to a “strong sell” rating in a report on Friday, October 9th. Morgan Stanley restated an “underweight” rating on shares of DNB Bank ASA in a research note on Wednesday, June 24th. The Goldman Sachs Group lowered shares of DNB Bank ASA from a “hold” rating to a “sell” rating in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of DNB Bank ASA in a report on Wednesday, September 16th. Finally, Citigroup reaffirmed a “neutral” rating on shares of DNB Bank ASA in a research report on Friday, October 9th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, DNB Bank ASA currently has a consensus rating of “Reduce”.

DNB Bank ASA Company Profile

DNB Bank ASA is a Norway-based financial services company and the principal banking subsidiary of DNB ASA, Norway’s largest financial group. The bank provides a broad range of services to individuals, businesses, institutional clients and public-sector organizations, including deposits, lending, mortgages, payment services, cards and everyday banking through digital and physical channels.

DNB also serves corporate and institutional customers with financing, cash management, trade finance, foreign exchange, investment banking and capital-markets services.