DNB Bank ASA (OTCMKTS:DNBBY) Hits New 52-Week High on Analyst Upgrade

DNB Bank ASA (OTCMKTS:DNBBY)’s stock price reached a new 52-week high during mid-day trading on Wednesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $31.8505 and last traded at $31.8399, with a volume of 1375 shares traded. The stock had previously closed at $31.40.

A number of other analysts have also recently weighed in on DNBBY. Morgan Stanley restated an “underweight” rating on shares of DNB Bank ASA in a report on Thursday, February 12th. Pareto Securities lowered DNB Bank ASA from a “buy” rating to a “hold” rating in a research note on Thursday, February 5th. The Goldman Sachs Group cut DNB Bank ASA from a “buy” rating to a “hold” rating in a report on Thursday, December 4th. Finally, Citigroup reaffirmed a “neutral” rating on shares of DNB Bank ASA in a report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

DNB Bank ASA Price Performance

The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 3.42. The company has a market capitalization of $47.30 billion, a P/E ratio of 11.68 and a beta of 0.73. The company’s 50-day simple moving average is $28.79 and its 200 day simple moving average is $27.28.

DNB Bank ASA (OTCMKTS:DNBBY) last released its quarterly earnings results on Wednesday, February 4th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. DNB Bank ASA had a net margin of 21.00% and a return on equity of 14.91%. As a group, sell-side analysts expect that DNB Bank ASA will post 2.43 earnings per share for the current fiscal year.

DNB Bank ASA Company Profile

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.