Nordea Bank (OTCMKTS:NRDBY) Sets New 52-Week High - Here's Why

Key Points

• Nordea Bank shares reached a new 52-week high of $20.89 and last traded at $20.23, up from the previous close of $20.04.
• The bank exceeded quarterly expectations, reporting earnings per share of $0.42 versus the $0.40 consensus estimate and revenue of $3.47 billion versus $3.41 billion expected.
• Analyst sentiment remains mixed, with ratings ranging from Strong Buy to Sell; the overall consensus rating is Hold.

Nordea Bank AB (OTCMKTS:NRDBY - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $20.89 and last traded at $20.23, with a volume of 724 shares traded. The stock had previously closed at $20.04.

Analyst Ratings Changes

NRDBY has been the subject of several recent analyst reports. The Goldman Sachs Group restated a "neutral" rating on shares of Nordea Bank in a research note on Monday, July 20th. Morgan Stanley reaffirmed an "overweight" rating on shares of Nordea Bank in a research report on Tuesday, May 12th. Finally, Citigroup reissued a "buy" rating on shares of Nordea Bank in a research report on Friday, July 17th. One research 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Nordea Bank Price Performance

The stock's 50 day simple moving average is $19.47 and its 200-day simple moving average is $18.96. The firm has a market cap of $68.80 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 2.00 and a beta of 0.62. The company has a debt-to-equity ratio of 6.79, a quick ratio of 1.18 and a current ratio of 1.18.

Nordea Bank (OTCMKTS:NRDBY - Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. Nordea Bank had a return on equity of 15.18% and a net margin of 22.82%.The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.41 billion. Equities research analysts anticipate that Nordea Bank AB will post 1.65 EPS for the current fiscal year.

About Nordea Bank

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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