Nordea Bank (OTCMKTS:NRDBY) Sets New 1-Year High – Here’s Why

Nordea Bank AB (OTCMKTS:NRDBY)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $18.42 and last traded at $18.27, with a volume of 186833 shares changing hands. The stock had previously closed at $17.99.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NRDBY. Zacks Research upgraded Nordea Bank from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Barclays reaffirmed an “underweight” rating on shares of Nordea Bank in a report on Wednesday. Morgan Stanley reiterated an “overweight” rating on shares of Nordea Bank in a research report on Monday, November 24th. Kepler Capital Markets upgraded shares of Nordea Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Finally, Citigroup reaffirmed a “buy” rating on shares of Nordea Bank in a research note on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Nordea Bank Price Performance

The company has a 50 day moving average of $17.09 and a two-hundred day moving average of $15.85. The firm has a market cap of $62.89 billion, a P/E ratio of 12.02, a PEG ratio of 3.43 and a beta of 0.62. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 6.32.

Nordea Bank (OTCMKTS:NRDBY) last issued its quarterly earnings results on Thursday, October 16th. The company reported $0.42 earnings per share for the quarter. Nordea Bank had a net margin of 21.42% and a return on equity of 15.38%. The company had revenue of $3.40 billion during the quarter. Sell-side analysts expect that Nordea Bank AB will post 1.4 EPS for the current year.

About Nordea Bank

Nordea Bank Abp offers banking products and services in Sweden, Finland, Norway, Denmark, and internationally. It operates through Personal Banking, Business Banking, Large Corporates & Institutions, and Asset & Wealth Management segments. The Personal Banking segment provides various financial services to customers through mobile banking, over the phone, online meetings, and branch offices.