Zacks Investment Research downgraded shares of Swedbank AB (NASDAQ:SWDBY) from a hold rating to a sell rating in a report published on Wednesday.

According to Zacks, “Swedbank is a leading Nordic-Baltic banking group with retail customers and corporate customers in Sweden, Estonia, Lithuania and Latvia. Swedbank’s vision is to be the leading financial institution in the markets where they are present. In Sweden the group has more than 470 branches. In the Baltic countries the group has another 280 branches. Outside of the Nordic-Baltic home markets, the group is present in Copenhagen, Helsinki, Kaliningrad, Luxembourg, Moscow, New York, Oslo, Shanghai, St.Petersburg and Tokyo. “

Swedbank AB (NASDAQ:SWDBY) remained flat at $23.09 during midday trading on Wednesday. 27,127 shares of the company traded hands. The stock has a market capitalization of $25.65 billion and a price-to-earnings ratio of 12.16. Swedbank AB has a 12 month low of $18.15 and a 12 month high of $23.80. The firm has a 50 day moving average of $23.22 and a 200 day moving average of $22.09.

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About Swedbank AB

Swedbank AB is a savings bank. The Company’s segments include Swedish Banking, Baltic Banking, Large Corporates & Institutions, and Group Functions & Other. Its Swedish Banking segment offers services through its own branch network, the Telephone Bank, the Internet Bank and the distribution network of the independent savings banks.

5 Day Chart for NASDAQ:SWDBY

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