DNB Bank ASA (OTCMKTS:DNBBY) Sees Large Volume Increase – Here’s What Happened

DNB Bank ASA (OTCMKTS:DNBBY) shares saw an uptick in trading volume on Thursday . Approximately 205,291 shares changed hands during trading, an increase of 401% from the previous session’s volume of 41,010 shares.The stock last traded at $31.7835 and had previously closed at $31.8715.

Analysts Set New Price Targets

A number of research firms have recently commented on DNBBY. Zacks Research upgraded shares of DNB Bank ASA from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 17th. Pareto Securities lowered DNB Bank ASA from a “buy” rating to a “hold” rating in a report on Thursday, February 5th. The Goldman Sachs Group downgraded DNB Bank ASA from a “buy” rating to a “hold” rating in a research note on Thursday, December 4th. Morgan Stanley reiterated an “underweight” rating on shares of DNB Bank ASA in a research note on Thursday, February 12th. Finally, Citigroup reissued a “neutral” rating on shares of DNB Bank ASA in a research note on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold”.

DNB Bank ASA Price Performance

The company has a current ratio of 1.44, a quick ratio of 1.45 and a debt-to-equity ratio of 3.16. The company has a 50 day moving average price of $29.07 and a 200 day moving average price of $27.42. The company has a market capitalization of $46.88 billion, a P/E ratio of 11.58 and a beta of 0.73.

DNB Bank ASA (OTCMKTS:DNBBY) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. DNB Bank ASA had a return on equity of 14.72% and a net margin of 21.00%.The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.35 billion. On average, equities analysts predict that DNB Bank ASA will post 2.43 EPS for the current fiscal year.

DNB Bank ASA Company Profile

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.