DNB Bank ASA (OTCMKTS:DNBBY) Shares Shorted: Short Interest Up 78.9% in October

Key Points

• Short interest surged 78.9% in October to 27,105 shares, though that represented approximately 0.0% of shares outstanding and only 0.3 days to cover.
• Analyst sentiment was mixed, with ratings ranging from strong buy to strong sell; the overall consensus rating remained Hold.
• DNB shares traded at $34.77, near their 52-week high, while the company exceeded quarterly expectations by reporting $0.69 EPS versus a $0.66 estimate and $2.28 billion in revenue versus a $2.21 billion forecast.

DNB Bank ASA (OTCMKTS:DNBBY - Get Free Report) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 27,105 shares, a growth of 78.9% from the September 30th total of 15,154 shares. Based on an average daily volume of 91,438 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DNBBY. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of DNB Bank ASA in a research note on Wednesday, September 16th. Barclays lowered DNB Bank ASA from an "overweight" rating to a "strong sell" rating in a research note on Friday, October 9th. Citigroup reaffirmed a "neutral" rating on shares of DNB Bank ASA in a research report on Friday, October 9th. Arctic Securiti raised DNB Bank ASA to a "strong-buy" rating in a research report on Thursday, October 22nd. Finally, The Goldman Sachs Group downgraded DNB Bank ASA from a "hold" rating to a "sell" rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, DNB Bank ASA presently has a consensus rating of "Hold".

DNB Bank ASA Stock Performance

Shares of DNB Bank ASA stock traded up $0.23 during trading on Friday, hitting $34.77. 64,594 shares of the company's stock were exchanged, compared to its average volume of 46,448. The stock has a market capitalization of $53.91 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 9.95 and a beta of 0.70. The business has a 50-day simple moving average of $33.45 and a 200-day simple moving average of $31.42. DNB Bank ASA has a 52-week low of $25.26 and a 52-week high of $35.00. 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 posted its quarterly earnings results on Wednesday, October 21st. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.66 by $0.03. The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.21 billion. DNB Bank ASA had a net margin of 21.06% and a return on equity of 13.69%. On average, research analysts forecast that DNB Bank ASA will post 2.84 EPS for the current year.

About DNB Bank ASA

DNB Bank ASA is a Norway-based financial services company and the principal banking subsidiary of DNB ASA, Norway's largest financial group. The bank provides a broad range of services to individuals, businesses, institutional clients and public-sector organizations, including deposits, lending, mortgages, payment services, cards and everyday banking through digital and physical channels.

DNB also serves corporate and institutional customers with financing, cash management, trade finance, foreign exchange, investment banking and capital-markets services.

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