DNB Bank ASA (OTCMKTS:DNBBY) Sees Large Decline in Short Interest

Key Points

• Short interest in DNB Bank ASA fell 56.5% to 11,668 shares as of August 31, representing about 0.0% of outstanding shares and only 0.2 days of average trading volume.
• Analyst sentiment remains mixed but leans toward “Hold”: two analysts rate the stock Buy, four Hold and two Sell.
• DNB opened at $34.19, near its 52-week high of $34.78, while its latest quarterly results beat expectations with EPS of $0.69 versus a $0.66 consensus and revenue of $2.31 billion.

DNB Bank ASA (OTCMKTS:DNBBY - Get Free Report) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 11,668 shares, a decrease of 56.5% from the August 15th total of 26,818 shares. Based on an average daily trading volume, of 56,681 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the company's stock are short sold.

Analysts Set New Price Targets

A number of research firms have issued reports on DNBBY. Citigroup reiterated a "neutral" rating on shares of DNB Bank ASA in a research note on Wednesday, July 8th. Morgan Stanley restated an "underweight" rating on shares of DNB Bank ASA in a research note on Wednesday, June 24th. The Goldman Sachs Group downgraded shares of DNB Bank ASA from a "hold" rating to a "sell" rating in a report on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of DNB Bank ASA in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, DNB Bank ASA presently has an average rating of "Hold".

DNB Bank ASA Price Performance

Shares of DNB Bank ASA stock opened at $34.19 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 3.51. The firm has a fifty day simple moving average of $32.38 and a 200-day simple moving average of $31.33. The stock has a market capitalization of $53.01 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 9.69 and a beta of 0.65. DNB Bank ASA has a 1-year low of $25.26 and a 1-year high of $34.78.

DNB Bank ASA (OTCMKTS:DNBBY - Get Free Report) last posted its earnings results on Tuesday, July 14th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.03. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.28 billion. DNB Bank ASA had a net margin of 21.34% and a return on equity of 13.97%. On average, sell-side analysts expect that DNB Bank ASA will post 2.87 earnings per share for the current year.

DNB Bank ASA Company Profile

DNB Bank ASA is a Norwegian financial services group headquartered in Oslo. It serves individuals, businesses, institutional customers and public-sector organizations through banking, financing and investment services. DNB is widely regarded as Norway's largest bank and has a central role in the country's financial system.

The company offers personal and business banking products, including deposit accounts, payment services, mortgages, consumer finance, corporate lending and leasing. Through its corporate and investment banking operations, DNB provides advisory services, capital markets solutions, securities services and financing for companies and institutions.

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