Short Interest in Nordea Bank AB (OTCMKTS:NRDBY) Grows By 90.3%

Nordea Bank AB (OTCMKTS:NRDBY) was the target of a significant increase in short interest in April. As of April 30th, there was short interest totaling 203,009 shares, an increase of 90.3% from the April 15th total of 106,692 shares. Based on an average daily trading volume, of 522,753 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.0% of the company’s stock are sold short.

Nordea Bank Stock Down 0.4%

Shares of OTCMKTS NRDBY traded down $0.07 during midday trading on Tuesday, reaching $18.38. 10,721 shares of the company’s stock were exchanged, compared to its average volume of 383,607. Nordea Bank has a 52-week low of $13.91 and a 52-week high of $20.61. The stock has a market capitalization of $62.54 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 1.80 and a beta of 0.64. The company has a debt-to-equity ratio of 6.33, a quick ratio of 1.23 and a current ratio of 1.23. The business’s fifty day moving average price is $18.23 and its two-hundred day moving average price is $18.51.

Nordea Bank (OTCMKTS:NRDBY) last announced its earnings results on Wednesday, April 22nd. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Nordea Bank had a return on equity of 15.15% and a net margin of 22.65%.The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.37 billion. Analysts forecast that Nordea Bank will post 1.65 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Zacks Research upgraded Nordea Bank from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 12th. Morgan Stanley reiterated an “overweight” rating on shares of Nordea Bank in a research note on Tuesday, May 12th. Finally, Citigroup reiterated a “buy” rating on shares of Nordea Bank in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nordea Bank has a consensus rating of “Hold”.

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.