Short Interest in DNB Bank ASA (OTCMKTS:DNBBY) Declines By 66.8%

Key Points

• Short interest in DNB Bank ASA plunged 66.8% in July, falling to 8,197 shares as of July 15 from 24,672 at the end of June. The stock now has essentially no shares sold short, with a days-to-cover ratio of just 0.1.
• The stock drew mixed analyst opinions, with recent rating changes including upgrades from Nordea Equity Research and Barclays, but downgrades from Goldman Sachs and Zacks. Overall, MarketBeat shows an average rating of Hold.
• DNB Bank reported better-than-expected quarterly results, posting EPS of $0.69 versus the $0.66 consensus and revenue of $2.31 billion versus expectations of $2.28 billion. The company also opened Friday up 2.0% at $31.23.

DNB Bank ASA (OTCMKTS:DNBBY - Get Free Report) saw a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 8,197 shares, a drop of 66.8% from the June 30th total of 24,672 shares. Currently, 0.0% of the company's shares are sold short. Based on an average trading volume of 78,978 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on DNBBY shares. Nordea Equity Research raised DNB Bank ASA to a "buy" rating in a research note on Thursday, April 9th. Morgan Stanley reissued an "underweight" rating on shares of DNB Bank ASA in a research report on Wednesday, June 24th. The Goldman Sachs Group lowered shares of DNB Bank ASA from a "hold" rating to a "sell" rating in a report on Monday, July 20th. Zacks Research lowered shares of DNB Bank ASA from a "strong-buy" rating to a "hold" rating in a report on Friday, May 8th. Finally, Barclays raised shares of DNB Bank ASA from a "hold" rating to an "overweight" rating in a research report on Wednesday, April 8th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold".

DNB Bank ASA Stock Up 2.0%

DNB Bank ASA stock opened at $31.23 on Friday. The company has a market capitalization of $48.42 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 8.77 and a beta of 0.64. The company has a debt-to-equity ratio of 3.01, a quick ratio of 1.67 and a current ratio of 1.67. DNB Bank ASA has a fifty-two week low of $24.93 and a fifty-two week high of $33.81. The firm has a 50 day moving average price of $30.50 and a 200 day moving average price of $30.38.

DNB Bank ASA (OTCMKTS:DNBBY - Get Free Report) last released its quarterly earnings results on Tuesday, July 14th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.03. DNB Bank ASA had a return on equity of 14.02% and a net margin of 21.34%.The company had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.28 billion. Research analysts expect that DNB Bank ASA will post 2.89 earnings per share for the current 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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