DNB Bank ASA (OTCMKTS:DNBBY) Hits New 1-Year High - Here's What Happened

Key Points

• DNB Bank ASA shares reached a new 52-week high, trading as high as $34.6899 and last at $34.64, up from a previous close of $34.45.
• Analyst sentiment remains cautious: the stock has an average “Hold” rating, with two Buy ratings, four Holds and two Sells; Goldman Sachs recently downgraded the shares to Sell.
• DNB exceeded quarterly expectations, reporting $0.69 in EPS versus a $0.66 estimate and revenue of $2.31 billion versus $2.28 billion expected. Analysts project full-year EPS of $2.92.

DNB Bank ASA (OTCMKTS:DNBBY - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $34.6899 and last traded at $34.64, with a volume of 666 shares traded. The stock had previously closed at $34.45.

Analyst Ratings Changes

Several research analysts recently weighed in on DNBBY shares. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of DNB Bank ASA in a research report on Thursday, July 30th. Morgan Stanley reaffirmed an "underweight" rating on shares of DNB Bank ASA in a research note on Wednesday, June 24th. The Goldman Sachs Group downgraded DNB Bank ASA from a "hold" rating to a "sell" rating in a report on Monday, July 20th. Finally, Citigroup reissued a "neutral" rating on shares of DNB Bank ASA in a research report on Wednesday, July 8th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold".

DNB Bank ASA Price Performance

The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 3.51. The stock's 50 day moving average price is $32.01 and its two-hundred day moving average price is $31.25. The firm has a market capitalization of $53.70 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 9.59 and a beta of 0.65.

DNB Bank ASA (OTCMKTS:DNBBY - Get Free Report) last issued its earnings results on Tuesday, July 14th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.03. DNB Bank ASA had a return on equity of 13.97% and a net margin of 21.34%.The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.28 billion. Analysts anticipate that DNB Bank ASA will post 2.92 EPS for the current fiscal year.

About DNB Bank ASA

DNB Bank ASA OTCMKTS: DNBBY is Norway's largest financial services group, offering a broad range of banking, insurance and capital markets services to retail, corporate and institutional clients. The bank's core activities encompass retail and commercial banking, corporate and investment banking, asset management, life insurance and pension products, as well as payment and card services. DNB provides traditional deposit and lending products, mortgages, savings and wealth management solutions, securities trading, corporate finance and treasury services.

The group operates through several specialized business lines, including DNB Markets for investment banking and capital markets activities and DNB Asset Management for portfolio management and investment funds.

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