Danske Bank (OTCMKTS:DNKEY) Sees Strong Trading Volume - Still a Buy?

Key Points

• The trading volume for DANSKE BANK shares surged by 404%, with approximately 200,933 shares changing hands, compared to the previous session's volume of 39,863 shares.
• Analysts have mixed ratings on DANSKE BANK, with Zacks lowering their rating from "strong-buy" to "hold" while Barclays upgraded it to "strong-buy", resulting in a consensus rating of "buy".
• In its latest quarterly earnings report, DANSKE BANK reported $0.50 earnings per share, exceeding estimates and realizing a revenue of $2.17 billion against a forecast of $14.01 billion.

Danske Bank (OTCMKTS:DNKEY - Get Free Report) shares saw strong trading volume on Tuesday . 200,933 shares changed hands during trading, an increase of 404% from the previous session's volume of 39,863 shares.The stock last traded at $20.42 and had previously closed at $20.47.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Morgan Stanley reissued an "overweight" rating on shares of Danske Bank in a research note on Tuesday, September 2nd. Barclays raised shares of Danske Bank from a "strong sell" rating to a "strong-buy" rating in a research note on Monday, June 2nd. Zacks Research cut Danske Bank from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Finally, Citigroup reiterated a "buy" rating on shares of Danske Bank in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy".

Danske Bank Price Performance

The company has a debt-to-equity ratio of 7.82, a current ratio of 1.80 and a quick ratio of 1.80. The company has a 50-day simple moving average of $20.58 and a two-hundred day simple moving average of $18.98. The stock has a market capitalization of $34.73 billion, a price-to-earnings ratio of 10.25 and a beta of 0.77.

Danske Bank (OTCMKTS:DNKEY - Get Free Report) last issued its earnings results on Friday, July 18th. The financial services provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. Danske Bank had a return on equity of 13.40% and a net margin of 41.49%.The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $14.01 billion. On average, equities research analysts predict that Danske Bank will post 1.84 earnings per share for the current year.

About Danske Bank

Danske Bank A/S provides various banking products and services to corporate, institutional, and international clients. The company offers insurance and pension products, mortgage finance and real-estate brokerage services, asset management and trading services in fixed income products, foreign exchange services, and equities.