Nordea Bank AB (OTCMKTS:NRDBY) Stock Short Interest Rises 151.1%

Key Points

• Short interest surged 151.1% to 25,440 shares as of September 30, up from 10,130 shares two weeks earlier. Despite the increase, short interest represented approximately 0.0% of outstanding shares, with a short-interest ratio of just 0.1 days.
• Analyst sentiment remained positive, with a consensus rating of “Moderate Buy” based on one Strong Buy, three Buys, three Holds and one Sell rating.
• Nordea shares opened at $18.83, below their 50-day average of $20.16, while the bank’s latest quarterly results exceeded expectations with earnings of $0.42 per share versus the $0.40 consensus and revenue of $3.47 billion.

Nordea Bank AB (OTCMKTS:NRDBY - Get Free Report) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totaling 25,440 shares, a growth of 151.1% from the September 15th total of 10,130 shares. Approximately 0.0% of the company's stock are sold short. Based on an average daily volume of 181,430 shares, the short-interest ratio is currently 0.1 days.

Analyst Ratings Changes

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

Nordea Bank Price Performance

Shares of Nordea Bank stock opened at $18.83 on Monday. The firm has a fifty day simple moving average of $20.16 and a 200-day simple moving average of $19.23. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 6.79. Nordea Bank has a 1-year low of $16.15 and a 1-year high of $21.39. The stock has a market capitalization of $64.07 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.41 and a beta of 0.69.

Nordea Bank (OTCMKTS:NRDBY - Get Free Report) last posted its earnings results on Thursday, July 16th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.41 billion. Nordea Bank had a net margin of 22.82% and a return on equity of 15.18%. On average, sell-side analysts expect that Nordea Bank will post 1.77 earnings per share for the current year.

About Nordea Bank

Nordea Bank Abp OTCMKTS: NRDBY is a Nordic financial services group headquartered in Helsinki, Finland. The bank provides banking, investment and insurance-related services to personal customers, businesses, institutional investors and public-sector organizations.

Nordea offers a broad range of products, including deposit and lending products, mortgages, payment and account services, credit cards, wealth management, investment advice, corporate finance and capital-markets services. Through its asset-management operations, the group also provides investment products and portfolio-management services to individual and institutional clients.

The bank serves customers primarily in Finland, Sweden, Denmark and Norway, with additional international operations supporting corporate and institutional clients.

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