DNB Bank ASA (OTCMKTS:DNBBY) Sets New 12-Month High on Better-Than-Expected Earnings

DNB Bank ASA (OTCMKTS:DNBBY)’s share price reached a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $30.31 and last traded at $30.31, with a volume of 1214 shares trading hands. The stock had previously closed at $29.51.

The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.10. DNB Bank ASA had a net margin of 21.00% and a return on equity of 14.91%. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.35 billion.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DNBBY. Zacks Research upgraded DNB Bank ASA from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. Citigroup reissued a “neutral” rating on shares of DNB Bank ASA in a report on Tuesday, October 14th. Pareto Securities downgraded DNB Bank ASA from a “buy” rating to a “hold” rating in a report on Thursday. Morgan Stanley reiterated an “underweight” rating on shares of DNB Bank ASA in a research report on Friday, January 9th. Finally, The Goldman Sachs Group cut shares of DNB Bank ASA from a “buy” rating to a “hold” rating in a research note on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

DNB Bank ASA Trading Up 2.0%

The firm has a market cap of $44.48 billion, a P/E ratio of 10.99 and a beta of 0.73. The business’s 50 day moving average is $27.94 and its 200-day moving average is $26.89. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 3.42.

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.