Short Interest in Nordea Bank AB (OTCMKTS:NRDBY) Rises By 392.6%

Key Points

• Short interest surged 392.6% in August to 13,092 shares from 2,658 shares, though short positions still represented 0.0% of shares outstanding and just 0.1 days to cover.
• Nordea shares traded down 0.4% to $20.34, near their 52-week high of $20.89. The bank recently exceeded quarterly earnings and revenue estimates, reporting $0.42 EPS and $3.47 billion in revenue.
• Analyst views remain mixed, with buy, overweight, hold and sell ratings; MarketBeat’s overall consensus rating is Hold.

Nordea Bank AB (OTCMKTS:NRDBY - Get Free Report) saw a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 13,092 shares, an increase of 392.6% from the July 30th total of 2,658 shares. Based on an average trading volume of 193,698 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company's shares are short sold.

Nordea Bank Trading Down 0.4%

Shares of OTCMKTS NRDBY traded down $0.09 during midday trading on Wednesday, hitting $20.34. The stock had a trading volume of 26,546 shares, compared to its average volume of 541,099. The company has a market capitalization of $69.21 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 1.86 and a beta of 0.62. Nordea Bank has a 1-year low of $15.24 and a 1-year high of $20.89. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 6.79. The company has a fifty day moving average price of $19.55 and a 200 day moving average price of $18.97.

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, topping analysts' consensus estimates of $0.40 by $0.02. Nordea Bank had a net margin of 22.82% and a return on equity of 15.18%. The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.41 billion. On average, analysts predict that Nordea Bank will post 1.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Citigroup restated a "buy" rating on shares of Nordea Bank in a report on Friday, July 17th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Nordea Bank in a research note on Monday, July 20th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Nordea Bank in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold".

About Nordea Bank

Nordea Bank is a leading financial services group focused on serving retail, corporate and institutional customers across the Nordic region. The bank's core activities include retail and commercial banking, corporate and institutional banking, asset and wealth management, and related financial services such as payments, cash management and trade finance. Nordea delivers these services through branch and digital channels, aiming to provide integrated banking solutions for everyday consumers, small and medium enterprises, and large corporations.

Product offerings span deposit and lending products including mortgages and consumer loans, transaction banking and treasury services for corporate clients, investment and pension solutions through its asset management businesses, and wealth management services for private clients.

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