Nordea Bank (OTCMKTS:NRDBY) Hits New 12-Month High – Here’s Why

Nordea Bank AB (OTCMKTS:NRDBY) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $19.40 and last traded at $19.3080, with a volume of 9189 shares trading hands. The stock had previously closed at $19.17.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Nordea Equity Research downgraded shares of Nordea Bank from a “buy” rating to a “neutral” rating in a research report on Thursday, December 4th. Zacks Research cut Nordea Bank from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 17th. The Goldman Sachs Group downgraded Nordea Bank from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 4th. Citigroup reiterated a “buy” rating on shares of Nordea Bank in a research report on Thursday, October 9th. Finally, Kepler Capital Markets raised Nordea Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Nordea Bank Stock Performance

The business’s fifty day simple moving average is $18.07 and its 200-day simple moving average is $16.58. The company has a market capitalization of $66.09 billion, a P/E ratio of 12.66, a P/E/G ratio of 3.91 and a beta of 0.63. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.23 and a current ratio of 1.23.

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

Nordea Bank Company Profile

Nordea Bank is a leading financial services group focused on serving retail, corporate and institutional customers across the Nordic region. The bank’s core activities include retail and commercial banking, corporate and institutional banking, asset and wealth management, and related financial services such as payments, cash management and trade finance. Nordea delivers these services through branch and digital channels, aiming to provide integrated banking solutions for everyday consumers, small and medium enterprises, and large corporations.

Product offerings span deposit and lending products including mortgages and consumer loans, transaction banking and treasury services for corporate clients, investment and pension solutions through its asset management businesses, and wealth management services for private clients.