Danske Bank (OTCMKTS:DNKEY) Hits New 12-Month High - Still a Buy?

Key Points

• Danske Bank shares reached a new 12-month high of $29.65, up from a previous close of $29.00, with the stock trading above both its 50-day and 200-day moving averages.
• Analyst sentiment is broadly positive: the stock has a consensus rating of “Moderate Buy”, including one Strong Buy, four Buy, and two Hold ratings.
• The bank exceeded quarterly expectations, reporting $0.59 EPS versus $0.56 expected and revenue of $2.32 billion versus the $2.24 billion consensus estimate; analysts expect full-year EPS of $2.31.

Danske Bank (OTCMKTS:DNKEY - Get Free Report) shares hit a new 52-week high on Friday . The company traded as high as $29.65 and last traded at $29.65, with a volume of 1986 shares trading hands. The stock had previously closed at $29.00.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Zacks Research upgraded Danske Bank from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Danske Bank in a research report on Thursday, July 30th. Morgan Stanley reissued an "overweight" rating on shares of Danske Bank in a report on Tuesday, September 1st. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Danske Bank in a report on Monday, July 20th. Finally, Citigroup reissued a "buy" rating on shares of Danske Bank in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

Danske Bank Price Performance

The company has a debt-to-equity ratio of 8.09, a current ratio of 1.76 and a quick ratio of 1.76. The company has a 50 day moving average price of $28.58 and a 200 day moving average price of $26.69. The firm has a market cap of $48.07 billion, a PE ratio of 13.04 and a beta of 0.62.

Danske Bank (OTCMKTS:DNKEY - Get Free Report) last announced its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $2.32 billion for the quarter, compared to analysts' expectations of $2.24 billion. Danske Bank had a net margin of 40.85% and a return on equity of 13.80%. Sell-side analysts expect that Danske Bank will post 2.31 EPS for the current fiscal year.

About Danske Bank

Danske Bank A/S is a Danish financial services group that provides banking and related financial products to personal, business and institutional customers. Its offerings include deposit accounts, consumer and commercial lending, payment services, cards, investment products, wealth management and corporate finance.

The bank also provides mortgage financing in Denmark through Realkredit Danmark, its mortgage subsidiary. For business and institutional clients, Danske Bank offers transaction banking, cash management, capital markets, investment banking and asset management services.

Founded in 1871 as Den Danske Landmandsbank, the company has developed into one of the largest banks in Denmark, with a broader Nordic focus.

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