Svenska Handelsbanken Ab Publ (OTCMKTS:SVNLY) Sees Large Increase in Short Interest

Key Points

• Short interest surged 441.7% to 115,783 shares as of September 15, up from 21,375 shares on August 31. Despite the increase, short interest represented 0.0% of shares outstanding, with a 0.7-day days-to-cover ratio.
• Svenska Handelsbanken shares opened at $7.77, up 1.3%, within a 52-week range of $6.14 to $8.26. The bank reported quarterly EPS of $0.14, matching estimates, while revenue of $1.40 billion fell short of the $1.45 billion forecast.
• Analyst sentiment remains strongly negative: one analyst rates the stock Hold and four rate it Sell, resulting in a consensus rating of “Strong Sell.”

Svenska Handelsbanken Ab Publ (OTCMKTS:SVNLY - Get Free Report) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 115,783 shares, a growth of 441.7% from the August 31st total of 21,375 shares. Based on an average trading volume of 175,063 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.0% of the company's shares are sold short.

Svenska Handelsbanken Ab Publ Stock Up 1.3%

Shares of Svenska Handelsbanken Ab Publ stock opened at $7.77 on Friday. Svenska Handelsbanken Ab Publ has a 52-week low of $6.14 and a 52-week high of $8.26. The company has a 50 day moving average of $7.63 and a 200 day moving average of $7.31. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $30.77 billion, a P/E ratio of 10.94, a P/E/G ratio of 0.47 and a beta of 0.61.

Svenska Handelsbanken Ab Publ (OTCMKTS:SVNLY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The company reported $0.14 EPS for the quarter, hitting the consensus estimate of $0.14. The company had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.45 billion. Svenska Handelsbanken Ab Publ had a net margin of 17.75% and a return on equity of 14.30%. As a group, research analysts forecast that Svenska Handelsbanken Ab Publ will post 0.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Barclays reissued an "underweight" rating on shares of Svenska Handelsbanken Ab Publ in a research note on Monday, June 22nd. The Goldman Sachs Group reiterated a "sell" rating on shares of Svenska Handelsbanken Ab Publ in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Svenska Handelsbanken Ab Publ in a report on Wednesday, September 16th. Morgan Stanley restated an "underweight" rating on shares of Svenska Handelsbanken Ab Publ in a research note on Tuesday, September 1st. Finally, Citigroup lowered Svenska Handelsbanken Ab Publ from a "hold" rating to a "sell" rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Strong Sell".

Svenska Handelsbanken Ab Publ Company Profile

Svenska Handelsbanken AB (publ) is a Swedish universal bank that provides banking and financial services to individuals, businesses and institutional customers. Its offerings include deposits, lending, mortgages, payment services, savings and investment products, corporate finance, and asset management.

Founded in Stockholm in 1871, Handelsbanken has developed a decentralized business model that gives local branches substantial responsibility for customer relationships and credit decisions.

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