DNB Bank ASA (OTCMKTS:DNBBY) Shares Gap Down on Disappointing Earnings

DNB Bank ASA (OTCMKTS:DNBBY - Get Free Report)'s share price gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $28.08, but opened at $26.99. DNB Bank ASA shares last traded at $25.68, with a volume of 10,657 shares changing hands.

The company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.04). DNB Bank ASA had a return on equity of 15.80% and a net margin of 21.24%. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $23.05 billion.

DNB Bank ASA Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, May 16th. Shareholders of record on Monday, May 5th were paid a dividend of $1.2311 per share. The ex-dividend date was Friday, May 2nd. This represents a yield of 4.76%. DNB Bank ASA's dividend payout ratio (DPR) is presently 42.60%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DNBBY. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of DNB Bank ASA in a report on Tuesday, May 13th. Barclays cut shares of DNB Bank ASA from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 2nd. Finally, Citigroup reiterated a "neutral" rating on shares of DNB Bank ASA in a research note on Wednesday, May 21st.

DNB Bank ASA Stock Performance

The stock has a fifty day simple moving average of $27.08 and a two-hundred day simple moving average of $24.48. The company has a debt-to-equity ratio of 3.41, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a market cap of $40.28 billion, a price-to-earnings ratio of 9.38 and a beta of 1.00.

DNB Bank ASA Company Profile

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.