Swedbank (OTCMKTS:SWDBY) Downgraded to “Hold” Rating by Zacks Research

Zacks Research cut shares of Swedbank (OTCMKTS:SWDBY) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Morgan Stanley reaffirmed an “underweight” rating on shares of Swedbank in a research note on Monday, November 24th. Citigroup restated a “neutral” rating on shares of Swedbank in a research report on Tuesday, October 14th. The Goldman Sachs Group lowered Swedbank from a “hold” rating to a “sell” rating in a research note on Thursday, December 4th. Finally, Barclays reiterated an “underweight” rating on shares of Swedbank in a research report on Wednesday, December 10th. Four research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce”.

Swedbank Price Performance

SWDBY stock traded up SEK 0.26 during midday trading on Monday, reaching SEK 36.31. 3,585 shares of the company’s stock traded hands, compared to its average volume of 13,415. The company has a 50-day simple moving average of SEK 32.97 and a two-hundred day simple moving average of SEK 30.14. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 3.83. Swedbank has a 1-year low of SEK 19.16 and a 1-year high of SEK 36.33. The company has a market cap of $40.86 billion, a price-to-earnings ratio of 12.56 and a beta of 0.66.

Swedbank (OTCMKTS:SWDBY) last announced its earnings results on Thursday, October 23rd. The financial services provider reported SEK 0.79 EPS for the quarter, topping the consensus estimate of SEK 0.64 by SEK 0.15. Swedbank had a return on equity of 15.55% and a net margin of 26.30%.The company had revenue of SEK 1.80 billion for the quarter, compared to analysts’ expectations of SEK 1.73 billion. On average, analysts anticipate that Swedbank will post 2.34 earnings per share for the current year.

About Swedbank

Swedbank AB is a major Swedish banking group headquartered in Stockholm that provides a broad range of financial services to retail, corporate and institutional clients. The bank’s operations focus on traditional banking functions such as deposit-taking, lending and payment services, as well as wealth management and insurance solutions. Swedbank’s franchise is centered on serving households, small and medium-sized enterprises and larger corporate customers, with an emphasis on everyday banking and long-term client relationships.

Products and services offered by Swedbank include savings and current accounts, mortgages and consumer lending, business loans and transaction banking, payment and card services, and digital banking platforms.