DNB Bank ASA (OTCMKTS:DNBBY) Sees Strong Trading Volume – Here’s Why

DNB Bank ASA (OTCMKTS:DNBBY – Get Free Report) shares saw unusually-strong trading volume on Wednesday . 193,972 shares traded hands during mid-day trading, an increase of 255% from the previous session’s volume of 54,571 shares.The stock last traded at $32.40 and had previously closed at $32.22.

Analysts Set New Price Targets

Several research firms have commented on DNBBY. Citigroup restated a “neutral” rating on shares of DNB Bank ASA in a research note on Wednesday, July 8th. The Goldman Sachs Group cut shares of DNB Bank ASA from a “hold” rating to a “sell” rating in a research note on Monday, July 20th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of DNB Bank ASA in a report on Thursday, July 30th. Morgan Stanley restated an “underweight” rating on shares of DNB Bank ASA in a report on Wednesday, June 24th. Finally, Zacks Research downgraded shares of DNB Bank ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

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DNB Bank ASA Stock Up 0.8%

The firm has a market cap of $50.36 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 9.06 and a beta of 0.65. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 3.51. The firm has a fifty day moving average of $30.68 and a 200-day moving average of $30.74.

DNB Bank ASA (OTCMKTS:DNBBY – Get Free Report) last posted its quarterly earnings results on Tuesday, July 14th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.28 billion. DNB Bank ASA had a return on equity of 13.97% and a net margin of 21.34%. On average, equities research analysts anticipate that DNB Bank ASA will post 2.89 earnings per share for the current year.

About DNB Bank ASA

(Get Free Report)

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.

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