DNB Bank ASA (OTCMKTS:DNBBY) Trading Down 6.7% – Here’s Why

DNB Bank ASA (OTCMKTS:DNBBY)’s share price traded down 6.7% during trading on Wednesday . The company traded as low as $25.77 and last traded at $25.77. 14,596 shares were traded during mid-day trading, a decline of 46% from the average session volume of 26,878 shares. The stock had previously closed at $27.6120.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on DNBBY shares. Citigroup reaffirmed a “neutral” rating on shares of DNB Bank ASA in a research report on Tuesday, October 14th. Zacks Research raised shares of DNB Bank ASA from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. Morgan Stanley reiterated an “underweight” rating on shares of DNB Bank ASA in a report on Friday. Finally, The Goldman Sachs Group downgraded DNB Bank ASA from a “buy” rating to a “hold” rating in a research note on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, DNB Bank ASA presently has an average rating of “Hold”.

DNB Bank ASA Price Performance

The stock has a 50 day moving average of $26.94 and a 200-day moving average of $26.63. The company has a debt-to-equity ratio of 3.42, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market cap of $41.51 billion, a PE ratio of 10.29 and a beta of 0.73.

DNB Bank ASA (OTCMKTS:DNBBY) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $0.69 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.69. DNB Bank ASA had a return on equity of 15.17% and a net margin of 21.20%.The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.23 billion. Equities analysts predict that DNB Bank ASA will post 2.43 earnings per share for the current 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.