DNB Bank ASA (OTCMKTS:DNBBY) Issues Earnings Results, Beats Expectations By $0.10 EPS

DNB Bank ASA (OTCMKTS:DNBBY) issued its earnings results on Wednesday. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.10, Zacks reports. DNB Bank ASA had a net margin of 21.20% and a return on equity of 15.17%. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.35 billion.

DNB Bank ASA Stock Down 1.7%

OTCMKTS:DNBBY traded down $0.50 during mid-day trading on Thursday, hitting $29.61. 16,248 shares of the company’s stock traded hands, compared to its average volume of 31,579. DNB Bank ASA has a twelve month low of $20.86 and a twelve month high of $30.48. 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 capitalization of $43.75 billion, a P/E ratio of 10.85 and a beta of 0.73. The company has a fifty day moving average of $27.82 and a 200 day moving average of $26.84.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DNBBY. Zacks Research upgraded shares of DNB Bank ASA from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. Citigroup restated a “neutral” rating on shares of DNB Bank ASA in a report on Tuesday, October 14th. Morgan Stanley reiterated an “underweight” rating on shares of DNB Bank ASA in a report on Friday, January 9th. Pareto Securities cut DNB Bank ASA from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, The Goldman Sachs Group downgraded DNB Bank ASA from a “buy” rating to a “hold” rating in a research report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, DNB Bank ASA currently has an average rating of “Hold”.

About DNB Bank ASA

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.