Nordea Bank AB (OTCMKTS:NRDBY) Short Interest Update

Key Points

• Nordea Bank’s short interest fell 82.3% to 10,130 shares as of September 15, down from 57,304 shares at the end of August. Short interest represented essentially 0% of shares outstanding, with a days-to-cover ratio of 0.1.
• Analyst sentiment is generally positive, with an overall “Moderate Buy” rating; Deutsche Bank and Citigroup maintained “buy” ratings, while Goldman Sachs reaffirmed a “neutral” view.
• Nordea’s latest quarterly results exceeded expectations, reporting $0.42 in EPS versus the $0.40 consensus and $3.47 billion in revenue versus $3.41 billion expected. The stock opened at $20.36, near its 12-month high of $21.39.

Nordea Bank AB (OTCMKTS:NRDBY - Get Free Report) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 10,130 shares, a decline of 82.3% from the August 31st total of 57,304 shares. Based on an average daily volume of 175,352 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the company's stock are short sold.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Nordea Bank in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Nordea Bank in a research report on Wednesday, September 16th. Finally, Citigroup reissued a "buy" rating on shares of Nordea Bank in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy".

Nordea Bank Stock Up 0.6%

NRDBY stock opened at $20.36 on Friday. The company has a 50 day moving average of $20.19 and a two-hundred day moving average of $19.14. The company has a market cap of $69.26 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.54 and a beta of 0.63. Nordea Bank has a 12-month low of $16.06 and a 12-month high of $21.39. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 6.79.

Nordea Bank (OTCMKTS:NRDBY - Get Free Report) last posted its earnings results on Thursday, July 16th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.41 billion. Nordea Bank had a net margin of 22.82% and a return on equity of 15.18%. On average, equities analysts anticipate that Nordea Bank will post 1.81 earnings per share for the current fiscal year.

About Nordea Bank

Nordea Bank Abp is a financial services group headquartered in Helsinki, Finland, serving personal, business and institutional customers across the Nordic region. Its primary markets are Finland, Sweden, Norway and Denmark, with additional operations supporting selected international and Baltic customers.

The company provides retail banking services such as deposit accounts, mortgages, consumer finance, payment solutions, cards and digital banking. Nordea also offers corporate and investment banking, including lending, cash management, financial markets, advisory and capital-markets services.

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