Danske Bank (OTCMKTS:DNKEY) Cut to "Hold" at Barclays

Key Points

• Barclays downgraded Danske Bank from “strong buy” to “hold,” while the broader analyst consensus is also “hold,” with three buy ratings and four hold ratings.
• Danske Bank shares opened at $26.46, below their 50-day moving average of $28.69, with a 12-month trading range of $21.00 to $29.65 and a market capitalization of $43.17 billion.
• The bank’s latest quarterly results exceeded expectations, reporting $0.59 in EPS versus a $0.56 estimate and revenue of $2.32 billion versus $2.24 billion expected.

Danske Bank (OTCMKTS:DNKEY - Get Free Report) was downgraded by analysts at Barclays from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Friday, Zacks reports.

DNKEY has been the topic of several other reports. The Goldman Sachs Group restated a "neutral" rating on shares of Danske Bank in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Danske Bank in a research report on Wednesday, September 16th. Morgan Stanley reaffirmed an "overweight" rating on shares of Danske Bank in a research note on Tuesday, September 1st. Citigroup reiterated a "buy" rating on shares of Danske Bank in a report on Monday, July 6th. Finally, Zacks Research lowered shares of Danske Bank from a "strong-buy" rating to a "hold" rating in a report on Friday, September 25th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Danske Bank currently has an average rating of "Hold".

Danske Bank Stock Performance

Danske Bank stock opened at $26.46 on Friday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 8.09. The company has a market capitalization of $43.17 billion, a PE ratio of 11.71 and a beta of 0.63. The firm has a fifty day simple moving average of $28.69 and a two-hundred day simple moving average of $27.12. Danske Bank has a twelve month low of $21.00 and a twelve month high of $29.65.

Danske Bank (OTCMKTS:DNKEY - Get Free Report) last posted its quarterly earnings results on Friday, July 17th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. The business had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.24 billion. Danske Bank had a net margin of 40.85% and a return on equity of 13.80%. Research analysts expect that Danske Bank will post 2.33 EPS for the current year.

About Danske Bank

Danske Bank A/S is a Denmark-based financial services group headquartered in Copenhagen. Founded in 1871, it is one of the largest banking institutions in the Nordic region and provides services to personal, business, corporate, institutional and public-sector customers.

The bank offers a broad range of financial products, including deposit and lending services, mortgages, payment solutions, cards, investment and wealth management, corporate finance, cash management and other capital-markets services.

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