Svenska Handelsbanken Ab Publ (OTCMKTS:SVNLY) Stock Price Crosses Above 50-Day Moving Average - What's Next?

Key Points

• Svenska Handelsbanken’s stock rose above its 50-day moving average, reaching $7.76 and closing near $7.75, compared with a 50-day average of $7.59.
• Analyst sentiment remains very negative: four analysts rate the shares Sell and one rates them Hold, resulting in a consensus rating of “Strong Sell.”
• The bank’s latest quarterly results matched expectations on earnings at $0.14 per share, but revenue of $1.40 billion fell short of the $1.45 billion consensus estimate.

Svenska Handelsbanken Ab Publ (OTCMKTS:SVNLY - Get Free Report)'s stock price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $7.59 and traded as high as $7.76. Svenska Handelsbanken Ab Publ shares last traded at $7.75, with a volume of 93,064 shares changing hands.

Analysts Set New Price Targets

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

Svenska Handelsbanken Ab Publ Stock Down 1.1%

The firm's fifty day moving average is $7.59 and its 200-day moving average is $7.31. The company has a market capitalization of $30.69 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 0.46 and a beta of 0.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.02 and a current ratio of 2.02.

Svenska Handelsbanken Ab Publ (OTCMKTS:SVNLY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The company reported $0.14 EPS for the quarter, meeting the consensus estimate of $0.14. Svenska Handelsbanken Ab Publ had a net margin of 17.75% and a return on equity of 14.30%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.45 billion. As a group, equities research analysts predict that Svenska Handelsbanken Ab Publ will post 0.6 EPS for the current year.

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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