Danske Bank (OTCMKTS:DNKEY) Sees Large Decrease in Short Interest

Key Points

• Danske Bank’s short interest plunged 87.7% to 17,659 shares as of July 31, down from 143,686 shares on July 15. Short interest now represents 0.0% of shares outstanding, with a days-to-cover ratio of 0.2.
• The bank exceeded quarterly expectations, reporting $0.59 EPS versus the $0.56 consensus and revenue of $2.32 billion versus $2.24 billion expected. Analysts forecast full-year EPS of $2.29.
• Analyst sentiment remains positive, with four Buy ratings and three Holds producing a “Moderate Buy” consensus; the stock opened at $28.73, near its 52-week high of $29.41.

Danske Bank (OTCMKTS:DNKEY - Get Free Report) was the target of a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 17,659 shares, a drop of 87.7% from the July 15th total of 143,686 shares. Based on an average daily volume of 70,721 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the shares of the stock are sold short.

Danske Bank Stock Performance

DNKEY stock opened at $28.73 on Wednesday. The company has a market capitalization of $46.88 billion, a P/E ratio of 12.71 and a beta of 0.61. The business has a 50-day moving average price of $27.42 and a 200 day moving average price of $26.29. The company has a debt-to-equity ratio of 8.09, a current ratio of 1.76 and a quick ratio of 1.76. Danske Bank has a 1-year low of $20.16 and a 1-year high of $29.41.

Danske Bank (OTCMKTS:DNKEY - Get Free Report) last issued its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. Danske Bank had a net margin of 40.85% and a return on equity of 13.80%. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.24 billion. As a group, equities research analysts forecast that Danske Bank will post 2.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DNKEY shares. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Danske Bank in a research note on Thursday, July 30th. The Goldman Sachs Group reiterated a "neutral" rating on shares of Danske Bank in a report on Monday, July 20th. Citigroup reiterated a "buy" rating on shares of Danske Bank in a research note on Monday, July 6th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Danske Bank in a research note on Wednesday, June 24th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

Danske Bank Company Profile

Danske Bank A/S is a major Danish banking group headquartered in Copenhagen. The firm traces its origins to the 19th century and has grown through mergers and organic expansion into one of the region's largest financial institutions. Its shares are primarily listed on Nasdaq Copenhagen, and American investors may encounter the bank's ADR trading on the U.S. over-the-counter market under the symbol DNKEY.

The bank provides a broad range of financial products and services across retail, commercial and institutional segments.

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