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

Key Points

• Short interest fell 68.4% to 15,154 shares as of September 30, down from 47,995 shares two weeks earlier. Short positions represented 0.0% of shares outstanding, with a days-to-cover ratio of 0.2.
• Analyst sentiment remained cautious: DNB Bank received one Buy, four Hold, and three Sell ratings, resulting in a consensus rating of “Reduce.”
• The stock opened at $31.74, compared with a 52-week range of $25.26 to $34.78. In its latest quarter, DNB reported $0.69 in earnings per share and $2.31 billion in revenue, both slightly above analyst estimates.

DNB Bank ASA (OTCMKTS:DNBBY - Get Free Report) was the recipient of a large drop in short interest in September. As of September 30th, there was short interest totaling 15,154 shares, a drop of 68.4% from the September 15th total of 47,995 shares. Currently, 0.0% of the company's shares are short sold. Based on an average daily volume of 65,870 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. The Goldman Sachs Group downgraded shares of DNB Bank ASA from a "hold" rating to a "sell" rating in a research report on Monday, July 20th. Barclays cut shares of DNB Bank ASA from an "overweight" rating to a "strong sell" rating in a research report on Friday. Morgan Stanley reissued an "underweight" rating on shares of DNB Bank ASA in a research note on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of DNB Bank ASA in a report on Wednesday, September 16th. Finally, Citigroup reaffirmed a "neutral" rating on shares of DNB Bank ASA in a research report on Friday. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce".

DNB Bank ASA Stock Performance

Shares of OTCMKTS DNBBY opened at $31.74 on Monday. The business has a 50 day simple moving average of $33.27 and a 200 day simple moving average of $31.65. DNB Bank ASA has a 52 week low of $25.26 and a 52 week high of $34.78. The stock has a market cap of $49.21 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 9.09 and a beta of 0.70. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.70 and a current ratio of 1.70.

DNB Bank ASA (OTCMKTS:DNBBY - Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.03. DNB Bank ASA had a return on equity of 13.97% and a net margin of 21.34%. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.28 billion. On average, research analysts predict that DNB Bank ASA will post 2.84 earnings per share for the current fiscal year.

About DNB Bank ASA

DNB Bank ASA is a Norway-based financial services group and the country's largest bank. The company provides banking and financial products to individual customers, small and medium-sized businesses, large corporations, and public-sector organizations.

Its activities include personal and business banking, lending, deposits, payment services, savings and investment products, asset management, insurance, and pension services. DNB also offers corporate finance, investment banking, securities, and other capital-markets services.

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