DNB Bank ASA (OTCMKTS:DNBBY) Hits New 12-Month High - What's Next?

Key Points

• DNB Bank ASA shares reached a new 12-month high, trading as high as $33.84 and closing near $33.74, up 0.5% during the session.
• Recent analyst sentiment is cautious: two analysts rate the stock Buy, four Hold, and two Sell, resulting in a consensus “Hold” rating.
• DNB exceeded quarterly expectations, reporting $0.69 EPS versus $0.66 expected and revenue of $2.31 billion compared with the $2.28 billion consensus estimate.

DNB Bank ASA (OTCMKTS:DNBBY - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $33.84 and last traded at $33.74, with a volume of 1707 shares changing hands. The stock had previously closed at $33.67.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Morgan Stanley restated an "underweight" rating on shares of DNB Bank ASA in a research note on Wednesday, June 24th. Zacks Research downgraded DNB Bank ASA from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 8th. The Goldman Sachs Group lowered DNB Bank ASA from a "hold" rating to a "sell" rating in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of DNB Bank ASA in a research note on Thursday, July 30th. Finally, Citigroup restated a "neutral" rating on shares of DNB Bank ASA in a report on Wednesday, July 8th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, DNB Bank ASA currently has a consensus rating of "Hold".

DNB Bank ASA Stock Up 0.5%

The firm has a market capitalization of $52.48 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 9.37 and a beta of 0.64. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.70 and a current ratio of 1.70. The business's 50 day moving average is $31.22 and its 200-day moving average is $31.01.

DNB Bank ASA (OTCMKTS:DNBBY - Get Free Report) last released its earnings results on Tuesday, July 14th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.03. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.28 billion. DNB Bank ASA had a net margin of 21.34% and a return on equity of 13.97%. Equities 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source