Swedbank (OTCMKTS:SWDBY) Hits New 52-Week High – Time to Buy?

Swedbank AB (OTCMKTS:SWDBY)’s share price reached a new 52-week high on Tuesday . The stock traded as high as SEK 35.70 and last traded at SEK 35.65, with a volume of 11100 shares trading hands. The stock had previously closed at SEK 35.31.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SWDBY shares. Citigroup reissued a “neutral” rating on shares of Swedbank in a research note on Tuesday, October 14th. The Goldman Sachs Group cut Swedbank from a “hold” rating to a “sell” rating in a research report on Thursday, December 4th. Morgan Stanley restated an “underweight” rating on shares of Swedbank in a research note on Monday, November 24th. Zacks Research raised Swedbank from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 18th. Finally, Barclays reiterated an “underweight” rating on shares of Swedbank in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Swedbank Trading Up 1.0%

The company has a fifty day simple moving average of SEK 32.39 and a two-hundred day simple moving average of SEK 29.74. The company has a market capitalization of $40.12 billion, a P/E ratio of 12.34 and a beta of 0.66. The company has a debt-to-equity ratio of 3.83, a current ratio of 1.50 and a quick ratio of 1.50.

Swedbank (OTCMKTS:SWDBY) last released its quarterly earnings results on Thursday, October 23rd. The financial services provider reported SEK 0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of SEK 0.64 by SEK 0.15. The company had revenue of SEK 1.80 billion during the quarter, compared to the consensus estimate of SEK 1.73 billion. Swedbank had a return on equity of 15.55% and a net margin of 26.30%. On average, analysts forecast that Swedbank AB will post 2.34 earnings per share for the current fiscal year.

About Swedbank

Swedbank AB is a major Swedish banking group headquartered in Stockholm that provides a broad range of financial services to retail, corporate and institutional clients. The bank’s operations focus on traditional banking functions such as deposit-taking, lending and payment services, as well as wealth management and insurance solutions. Swedbank’s franchise is centered on serving households, small and medium-sized enterprises and larger corporate customers, with an emphasis on everyday banking and long-term client relationships.

Products and services offered by Swedbank include savings and current accounts, mortgages and consumer lending, business loans and transaction banking, payment and card services, and digital banking platforms.