Nordea Bank (OTCMKTS:NRDBY) Sees Large Volume Increase – Time to Buy?

Nordea Bank AB (OTCMKTS:NRDBY) shares saw strong trading volume on Monday. 608,051 shares were traded during mid-day trading, an increase of 27% from the previous session’s volume of 477,709 shares. The stock last traded at $18.90 and had previously closed at $18.83.

Analysts Set New Price Targets

NRDBY has been the topic of several recent analyst reports. The Goldman Sachs Group reissued a “neutral” rating on shares of Nordea Bank in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nordea Bank in a research report on Wednesday, September 16th. Finally, Citigroup reaffirmed a “buy” rating on shares of Nordea Bank in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Nordea Bank Stock Up 1.2%

The firm’s 50-day simple moving average is $20.11 and its 200 day simple moving average is $19.25. The company has a market cap of $64.96 billion, a P/E ratio of 11.71, a PEG ratio of 1.41 and a beta of 0.69. The company has a debt-to-equity ratio of 6.79, a quick ratio of 1.18 and a current ratio of 1.18.

Nordea Bank (OTCMKTS:NRDBY) last issued its earnings results on Thursday, July 16th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. Nordea Bank had a net margin of 22.82% and a return on equity of 15.18%. The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.41 billion. On average, research analysts forecast that Nordea Bank AB will post 1.77 earnings per share for the current fiscal year.

About Nordea Bank

Nordea Bank Abp (OTCMKTS:NRDBY) is a Nordic financial services group headquartered in Helsinki, Finland. The bank provides banking, investment and insurance-related services to personal customers, businesses, institutional investors and public-sector organizations.

Nordea offers a broad range of products, including deposit and lending products, mortgages, payment and account services, credit cards, wealth management, investment advice, corporate finance and capital-markets services. Through its asset-management operations, the group also provides investment products and portfolio-management services to individual and institutional clients.

The bank serves customers primarily in Finland, Sweden, Denmark and Norway, with additional international operations supporting corporate and institutional clients.