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

Key Points

• DNB Bank ASA experienced a significant increase in short interest of 85.2% in August, climbing from 2,700 shares on July 31 to 5,000 shares.
• Several brokerages have downgraded the bank's stock, with Barclays reducing its rating from "strong-buy" to "hold", and three analysts currently rating it as "Hold".
• The bank reported earnings of $0.66 per share, missing analysts' expectations by $0.04, and aims for an estimated 2.43 earnings per share for the current fiscal year.

DNB Bank ASA (OTCMKTS:DNBBY - Get Free Report) was the recipient of a large growth in short interest in the month of August. As of August 15th, there was short interest totaling 5,000 shares, agrowthof85.2% from the July 31st total of 2,700 shares. Based on an average daily volume of 58,700 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 58,700 shares, the short-interest ratio is currently 0.1 days.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DNBBY. Barclays cut shares of DNB Bank ASA from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 2nd. Morgan Stanley reiterated an "underweight" rating on shares of DNB Bank ASA in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of DNB Bank ASA in a research note on Tuesday, May 13th. Finally, Citigroup restated a "neutral" rating on shares of DNB Bank ASA in a research note on Wednesday, May 21st. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, DNB Bank ASA has an average rating of "Reduce".

DNB Bank ASA Trading Up 1.0%

DNBBY stock opened at $26.19 on Friday. The firm has a fifty day moving average price of $26.27 and a 200 day moving average price of $25.79. DNB Bank ASA has a fifty-two week low of $19.20 and a fifty-two week high of $28.85. The company has a debt-to-equity ratio of 3.74, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market cap of $40.60 billion, a PE ratio of 9.45 and a beta of 0.98.

DNB Bank ASA (OTCMKTS:DNBBY - Get Free Report) last posted its earnings results on Friday, July 11th. The company reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.04). DNB Bank ASA had a net margin of 21.24% and a return on equity of 15.72%. The business had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $23.05 billion. Sell-side analysts anticipate that DNB Bank ASA will post 2.43 earnings per share for the current fiscal year.

About DNB Bank ASA

DNB Bank ASA provides financial services for individual and business customers in Norway and internationally. The company offers savings, current, and pension accounts; fixed rate and security deposits; home and cabin mortgages, car and consumer loans, business loans, and refinancing; car, house, home contents, travel, personal, and non-life insurance product; payment services; and online and mobile banking services, as well as cards.

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