DNB Bank ASA (OTCMKTS:DNBBY) Sees Large Growth in Short Interest

Key Points

• Short interest surged 195.9% to 24,252 shares as of July 31, up from 8,197 shares two weeks earlier. Despite the increase, short interest represents 0.0% of shares outstanding, with a days-to-cover ratio of 0.4.
• DNB Bank shares rose 1.2% to $32.82, near the upper end of their 12-month range. The bank also exceeded quarterly expectations, reporting EPS of $0.69 versus a $0.66 consensus estimate and revenue of $2.31 billion.
• Analyst sentiment remains cautious, with two Buy, four Hold, and two Sell ratings producing an overall Hold consensus; Goldman Sachs recently downgraded the stock to Sell.

DNB Bank ASA (OTCMKTS:DNBBY - Get Free Report) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 24,252 shares, a growth of 195.9% from the July 15th total of 8,197 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 63,995 shares, the days-to-cover ratio is currently 0.4 days.

DNB Bank ASA Stock Up 1.2%

OTCMKTS DNBBY traded up $0.40 on Thursday, hitting $32.82. 19,677 shares of the company were exchanged, compared to its average volume of 55,601. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 3.51. The company has a market cap of $50.88 billion, a PE ratio of 11.72, a PEG ratio of 9.05 and a beta of 0.65. The stock has a fifty day moving average of $30.72 and a 200-day moving average of $30.77. DNB Bank ASA has a 12 month low of $25.26 and a 12 month high of $33.81.

DNB Bank ASA (OTCMKTS:DNBBY - Get Free Report) last released its quarterly earnings data on Tuesday, July 14th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.66 by $0.03. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.28 billion. DNB Bank ASA had a return on equity of 13.97% and a net margin of 21.34%. As a group, analysts forecast that DNB Bank ASA will post 2.89 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the company. Zacks Research downgraded DNB Bank ASA from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 8th. Morgan Stanley reaffirmed an "underweight" rating on shares of DNB Bank ASA in a research note on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of DNB Bank ASA in a report on Thursday, July 30th. Citigroup reiterated a "neutral" rating on shares of DNB Bank ASA in a research report on Wednesday, July 8th. Finally, The Goldman Sachs Group cut shares of DNB Bank ASA from a "hold" rating to a "sell" rating in a research report on Monday, July 20th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold".

About DNB Bank ASA

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.

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