Nordea Bank AB (OTCMKTS:NRDBY) Short Interest Up 631.8% in June

Key Points

• Short interest in Nordea Bank surged 631.8% in June, rising to 2,810 shares as of June 30 from 384 shares on June 15. Despite the jump, the stock’s days-to-cover remains effectively zero due to very high average trading volume.
• The stock traded at $19.22, near its 52-week high of $20.61, with a market cap of about $65.4 billion. Nordea’s valuation metrics include a P/E ratio of 12.09 and a beta of 0.63.
• In its latest quarterly report, Nordea missed EPS estimates by $0.01 but posted revenue above expectations. Analyst sentiment is mixed, with an overall Hold rating despite recent buy and overweight reiterations.

Nordea Bank AB (OTCMKTS:NRDBY - Get Free Report) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 2,810 shares, a growth of 631.8% from the June 15th total of 384 shares. Based on an average daily volume of 5,253,091 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company's shares are short sold.

Nordea Bank Stock Performance

NRDBY traded down $0.04 on Friday, hitting $19.22. 1,520,920 shares of the company's stock were exchanged, compared to its average volume of 1,556,222. Nordea Bank has a twelve month low of $13.91 and a twelve month high of $20.61. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 6.78. The stock has a fifty day moving average of $18.81 and a two-hundred day moving average of $18.87. The firm has a market cap of $65.40 billion, a PE ratio of 12.09, a P/E/G ratio of 1.93 and a beta of 0.63.

Nordea Bank (OTCMKTS:NRDBY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.37 billion. Nordea Bank had a net margin of 22.65% and a return on equity of 15.24%. On average, research analysts anticipate that Nordea Bank will post 1.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NRDBY has been the topic of several research analyst reports. Morgan Stanley reissued an "overweight" rating on shares of Nordea Bank in a research report on Tuesday, May 12th. Citigroup reiterated a "buy" rating on shares of Nordea Bank in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold".

Nordea Bank Company Profile

Nordea Bank is a leading financial services group focused on serving retail, corporate and institutional customers across the Nordic region. The bank's core activities include retail and commercial banking, corporate and institutional banking, asset and wealth management, and related financial services such as payments, cash management and trade finance. Nordea delivers these services through branch and digital channels, aiming to provide integrated banking solutions for everyday consumers, small and medium enterprises, and large corporations.

Product offerings span deposit and lending products including mortgages and consumer loans, transaction banking and treasury services for corporate clients, investment and pension solutions through its asset management businesses, and wealth management services for private clients.

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