Danske Bank (OTCMKTS:DNKEY) Sets New 1-Year High - Time to Buy?

Key Points

• Danske Bank shares reached a new 52-week high, trading as high as $29.48 and recently changing hands near $29.15.
• Analyst sentiment is broadly positive: the stock has an average “Moderate Buy” rating, including one Strong Buy, four Buy, and two Hold recommendations.
• The bank beat quarterly expectations, reporting $0.59 in earnings per share versus a $0.56 consensus estimate and revenue of $2.32 billion versus $2.24 billion expected.

Danske Bank (OTCMKTS:DNKEY - Get Free Report) shares reached a new 52-week high on Thursday . The company traded as high as $29.48 and last traded at $29.15, with a volume of 2122 shares. The stock had previously closed at $28.72.

Analysts Set New Price Targets

DNKEY has been the topic of several recent research reports. Zacks Research upgraded Danske Bank from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Danske Bank in a report on Thursday, July 30th. Citigroup reissued a "buy" rating on shares of Danske Bank in a research note on Monday, July 6th. The Goldman Sachs Group restated a "neutral" rating on shares of Danske Bank in a report on Monday, July 20th. Finally, Morgan Stanley restated an "overweight" rating on shares of Danske Bank in a report on Tuesday. One investment 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 company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

Danske Bank Stock Up 0.6%

The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 8.09. The company has a market capitalization of $47.59 billion, a price-to-earnings ratio of 12.91 and a beta of 0.62. The firm's fifty day simple moving average is $28.28 and its two-hundred day simple moving average is $26.58.

Danske Bank (OTCMKTS:DNKEY - Get Free Report) last posted its quarterly earnings results on Friday, July 17th. The financial services provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. The business had revenue of $2.32 billion during 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 anticipate that Danske Bank will post 2.31 EPS for the current year.

About Danske Bank

Danske Bank A/S is a major Danish banking group headquartered in Copenhagen. The firm traces its origins to the 19th century and has grown through mergers and organic expansion into one of the region's largest financial institutions. Its shares are primarily listed on Nasdaq Copenhagen, and American investors may encounter the bank's ADR trading on the U.S. over-the-counter market under the symbol DNKEY.

The bank provides a broad range of financial products and services across retail, commercial and institutional segments.

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