Danske Bank (OTCMKTS:DNKEY) Short Interest Update

Key Points

• Short interest surged 229.6% to 63,795 shares as of August 31, up from 19,355 shares on August 15. Despite the increase, short interest represented 0.0% of shares outstanding, with a days-to-cover ratio of 0.5.
• Analyst sentiment remains positive, with one Strong Buy, four Buy, and two Hold ratings, producing a consensus rating of “Moderate Buy.”
• Danske Bank shares traded at $29.46, near their 52-week high of $29.65. The bank also exceeded quarterly expectations, reporting EPS of $0.59 versus the $0.56 consensus and revenue of $2.32 billion versus $2.24 billion expected.

Danske Bank (OTCMKTS:DNKEY - Get Free Report) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 63,795 shares, an increase of 229.6% from the August 15th total of 19,355 shares. Currently, 0.0% of the company's stock are short sold. Based on an average daily volume of 117,910 shares, the days-to-cover ratio is presently 0.5 days.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DNKEY. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Danske Bank in a research report on Thursday, July 30th. Zacks Research upgraded Danske Bank from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 11th. Citigroup reaffirmed a "buy" rating on shares of Danske Bank in a report on Monday, July 6th. The Goldman Sachs Group reiterated a "neutral" rating on shares of Danske Bank in a report on Monday, July 20th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Danske Bank in a research report on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy".

Danske Bank Stock Performance

Danske Bank stock traded up $0.33 during mid-day trading on Friday, reaching $29.46. 18,371 shares of the company's stock were exchanged, compared to its average volume of 44,401. The business's fifty day simple moving average is $28.62 and its 200 day simple moving average is $26.71. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 8.09. Danske Bank has a one year low of $20.65 and a one year high of $29.65. The firm has a market capitalization of $48.07 billion, a PE ratio of 13.04 and a beta of 0.62.

Danske Bank (OTCMKTS:DNKEY - Get Free Report) last announced its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.03. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.24 billion. Danske Bank had a return on equity of 13.80% and a net margin of 40.85%. On average, sell-side analysts expect that Danske Bank will post 2.31 earnings per share for the current year.

Danske Bank Company Profile

Danske Bank A/S is a Danish financial services group that provides banking and related financial products to personal, business and institutional customers. Its offerings include deposit accounts, consumer and commercial lending, payment services, cards, investment products, wealth management and corporate finance.

The bank also provides mortgage financing in Denmark through Realkredit Danmark, its mortgage subsidiary. For business and institutional clients, Danske Bank offers transaction banking, cash management, capital markets, investment banking and asset management services.

Founded in 1871 as Den Danske Landmandsbank, the company has developed into one of the largest banks in Denmark, with a broader Nordic focus.

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