Nordea Bank (OTCMKTS:NRDBY) Sees Large Volume Increase – Should You Buy?

Nordea Bank AB (OTCMKTS:NRDBY) shares saw strong trading volume on Monday . Approximately 2,755,613 shares were traded during mid-day trading, an increase of 408% from the previous session’s volume of 542,206 shares.The stock last traded at $19.22 and had previously closed at $18.92.

Analysts Set New Price Targets

A number of analysts recently issued reports on NRDBY shares. Citigroup reissued a “buy” rating on shares of Nordea Bank in a research report on Thursday, April 23rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Nordea Bank in a research report on Tuesday, May 12th. One investment 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. Based on data from MarketBeat.com, Nordea Bank presently has a consensus rating of “Hold”.

Nordea Bank Stock Performance

The stock has a 50 day simple moving average of $18.71 and a 200 day simple moving average of $18.79. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 6.78. The company has a market cap of $65.33 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 1.89 and a beta of 0.63.

Nordea Bank (OTCMKTS:NRDBY) last posted 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). The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.37 billion. Nordea Bank had a net margin of 22.65% and a return on equity of 15.24%. As a group, analysts predict that Nordea Bank AB will post 1.65 EPS for the current year.

About Nordea Bank

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.