Swedbank (OTCMKTS:SWDBY) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Swedbank (OTCMKTS:SWDBY) issued its quarterly earnings data on Thursday. The financial services provider reported SEK 0.76 earnings per share for the quarter, topping the consensus estimate of SEK 0.73 by SEK 0.03, Zacks reports. Swedbank had a return on equity of 14.84% and a net margin of 29.45%. The company had revenue of SEK 1.86 billion for the quarter.

Swedbank Price Performance

OTCMKTS:SWDBY opened at SEK 38.45 on Friday. The company has a market cap of $43.23 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 2.91 and a beta of 0.71. Swedbank has a twelve month low of SEK 29.80 and a twelve month high of SEK 42.36. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 4.25. The stock has a fifty day simple moving average of SEK 40.22 and a 200-day simple moving average of SEK 38.06.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SWDBY. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Swedbank in a research note on Wednesday, September 16th. The Goldman Sachs Group upgraded Swedbank from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Citigroup reissued a “neutral” rating on shares of Swedbank in a research report on Monday, October 12th. Barclays raised Swedbank from a “cautious” rating to an “overweight” rating in a research report on Friday, October 9th. Finally, Zacks Research lowered Swedbank from a “hold” rating to a “strong sell” rating in a report on Friday, September 11th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Swedbank Company Profile

Swedbank AB is a Swedish banking group that provides financial services to private individuals, businesses and institutional customers. Its main activities include deposit accounts, consumer and mortgage lending, business financing, payment services, card products, investment services and insurance-related offerings.

The bank serves customers primarily in Sweden and the Baltic countries of Estonia, Latvia and Lithuania. Through its digital channels, branches and other distribution networks, Swedbank offers everyday banking, savings and investment products, as well as services for corporate cash management, payments and capital financing.

Swedbank’s history is rooted in Sweden’s savings-bank movement, which dates back to the early 19th century.