Danske Bank (OTCMKTS:DNKEY) Hits New 12-Month High – Should You Buy?

Danske Bank (OTCMKTS:DNKEY) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $24.58 and last traded at $24.58, with a volume of 4042 shares changing hands. The stock had previously closed at $24.22.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Citigroup reissued a “buy” rating on shares of Danske Bank in a report on Tuesday, October 14th. Barclays reiterated an “overweight” rating on shares of Danske Bank in a research report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Danske Bank in a research note on Monday, November 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Danske Bank in a research note on Monday, November 24th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Danske Bank currently has a consensus rating of “Moderate Buy”.

Danske Bank Trading Up 1.7%

The company’s fifty day simple moving average is $22.62 and its two-hundred day simple moving average is $21.29. The company has a market capitalization of $41.11 billion, a price-to-earnings ratio of 12.19 and a beta of 0.61. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 7.16.

Danske Bank (OTCMKTS:DNKEY) last announced its quarterly earnings results on Friday, October 31st. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.02. Danske Bank had a net margin of 40.42% and a return on equity of 13.01%. The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.15 billion. Research analysts forecast that Danske Bank will post 1.84 earnings per share for the current fiscal year.

About Danske Bank

Danske Bank A/S is a major Danish banking group headquartered in Copenhagen. The firm traces its origins to the 19th century and has grown through mergers and organic expansion into one of the region’s largest financial institutions. Its shares are primarily listed on Nasdaq Copenhagen, and American investors may encounter the bank’s ADR trading on the U.S. over-the-counter market under the symbol DNKEY.

The bank provides a broad range of financial products and services across retail, commercial and institutional segments.