Nordea Bank (OTCMKTS:NRDBY) Sees Strong Trading Volume – Time to Buy?

Shares of Nordea Bank AB (OTCMKTS:NRDBY) saw strong trading volume on Friday . 1,349,635 shares were traded during trading, an increase of 117% from the previous session’s volume of 622,100 shares.The stock last traded at $19.15 and had previously closed at $19.26.

Analysts Set New Price Targets

A number of brokerages have commented on NRDBY. Citigroup reaffirmed a “buy” rating on shares of Nordea Bank in a research report on Thursday, April 23rd. Morgan Stanley reissued an “overweight” rating on shares of Nordea Bank in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Nordea Bank has a consensus rating of “Hold”.

Nordea Bank Price Performance

The business has a 50-day moving average of $18.79 and a 200 day moving average of $18.86. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 6.78. The firm has a market capitalization of $65.30 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 1.92 and a beta of 0.63.

Nordea Bank (OTCMKTS:NRDBY) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). Nordea Bank had a return on equity of 15.24% and a net margin of 22.65%.The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.37 billion. On average, sell-side analysts predict that Nordea Bank AB will post 1.65 earnings per share for the current fiscal year.

Nordea Bank Company Profile

Nordea Bank is a leading financial services group focused on serving retail, corporate and institutional customers across the Nordic region. The bank’s core activities include retail and commercial banking, corporate and institutional banking, asset and wealth management, and related financial services such as payments, cash management and trade finance. Nordea delivers these services through branch and digital channels, aiming to provide integrated banking solutions for everyday consumers, small and medium enterprises, and large corporations.

Product offerings span deposit and lending products including mortgages and consumer loans, transaction banking and treasury services for corporate clients, investment and pension solutions through its asset management businesses, and wealth management services for private clients.