DNB Bank ASA (OTCMKTS:DNBBY) Sets New 1-Year High – Here’s Why

DNB Bank ASA (OTCMKTS:DNBBY)’s stock price hit a new 52-week high on Wednesday. The stock traded as high as $35.15 and last traded at $35.12, with a volume of 3,293 shares changing hands. The stock had previously closed at $34.2350.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Arctic Securiti upgraded shares of DNB Bank ASA to a “strong-buy” rating in a research report on Thursday, October 22nd. Barclays lowered shares of DNB Bank ASA from an “overweight” rating to a “strong sell” rating in a research note on Friday, October 9th. The Goldman Sachs Group downgraded DNB Bank ASA from a “hold” rating to a “sell” rating in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of DNB Bank ASA in a research report on Wednesday, September 16th. Finally, Citigroup reissued a “neutral” rating on shares of DNB Bank ASA in a report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

DNB Bank ASA Stock Up 0.2%

The firm’s fifty day moving average is $33.53 and its two-hundred day moving average is $31.55. The firm has a market cap of $54.28 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 10.00 and a beta of 0.68. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.70 and a quick ratio of 1.70.

DNB Bank ASA (OTCMKTS:DNBBY) last released its earnings results on Wednesday, October 21st. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.66 by $0.03. The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.21 billion. DNB Bank ASA had a net margin of 21.06% and a return on equity of 13.69%. On average, sell-side analysts expect that DNB Bank ASA will post 2.84 EPS for the current fiscal year.

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.