Svenska Handelsbanken Ab Publ (OTCMKTS:SVNLY) Issues Quarterly Earnings Results

Key Points

• Svenska Handelsbanken reported quarterly EPS of $0.15, beating the consensus estimate of $0.14. The bank posted a 17.75% net margin and 14.30% return on equity.
• Shares rose 1.2% to open at $7.74, with the stock trading between a 12-month range of $6.14 and $8.26. The company has a market capitalization of approximately $30.63 billion and a P/E ratio of 10.89.
• Analyst sentiment remains cautious: three analysts rate the stock Sell, one rates it Hold and one rates it Buy, resulting in a consensus “Reduce” rating despite Barclays upgrading the shares to Positive.

Svenska Handelsbanken Ab Publ (OTCMKTS:SVNLY - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01, Zacks reports. Svenska Handelsbanken Ab Publ had a net margin of 17.75% and a return on equity of 14.30%.

Svenska Handelsbanken Ab Publ Trading Up 1.2%

Shares of SVNLY stock opened at $7.74 on Wednesday. Svenska Handelsbanken Ab Publ has a 12 month low of $6.14 and a 12 month high of $8.26. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.19. The business's 50 day moving average is $7.68 and its two-hundred day moving average is $7.37. The company has a market cap of $30.63 billion, a PE ratio of 10.89 and a beta of 0.62.

Wall Street Analysts Forecast Growth

SVNLY has been the subject of several analyst reports. Citigroup reaffirmed a "sell" rating on shares of Svenska Handelsbanken Ab Publ in a research note on Friday, October 9th. Morgan Stanley reissued an "underweight" rating on shares of Svenska Handelsbanken Ab Publ in a research report on Tuesday, September 1st. Barclays upgraded Svenska Handelsbanken Ab Publ from an "underweight" rating to a "positive" rating in a report on Friday, October 9th. The Goldman Sachs Group restated a "sell" rating on shares of Svenska Handelsbanken Ab Publ in a report on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Svenska Handelsbanken Ab Publ in a research report on Wednesday, September 16th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Reduce".

About Svenska Handelsbanken Ab Publ

Svenska Handelsbanken AB (publ), commonly known as Handelsbanken, is a Swedish universal bank providing financial services to individuals, businesses and institutional customers. Its offerings include deposit accounts, lending, mortgages, payment services, cash management, financial advice and other banking solutions.

The bank also provides corporate and investment banking services, including financing, capital markets support, foreign exchange and securities-related services. Through affiliated operations, Handelsbanken offers asset management, pension and insurance-related products to selected customers.

Founded in Stockholm in 1871, Handelsbanken has historically developed a decentralized banking model in which local branches have significant responsibility for customer relationships and credit decisions.

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