Nordea Bank (OTCMKTS:NRDBY) Reaches New 12-Month High – Here’s Why

Nordea Bank AB (OTCMKTS:NRDBY) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $21.39 and last traded at $20.76, with a volume of 12893 shares trading hands. The stock had previously closed at $20.45.

Analyst Upgrades and Downgrades

Several research analysts have commented on NRDBY shares. The Goldman Sachs Group reissued a “neutral” rating on shares of Nordea Bank in a research note on Monday, July 20th. Citigroup reiterated a “buy” rating on shares of Nordea Bank in a research report on Friday, July 17th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Nordea Bank in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Nordea Bank Trading Up 1.7%

The firm’s 50 day simple moving average is $19.73 and its two-hundred day simple moving average is $19.00. The stock has a market capitalization of $70.61 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.89 and a beta of 0.63. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 6.79.

Nordea Bank (OTCMKTS:NRDBY) last released its quarterly earnings data on Thursday, July 16th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Nordea Bank had a net margin of 22.82% and a return on equity of 15.18%. The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.41 billion. As a group, analysts forecast that Nordea Bank AB will post 1.78 earnings per share for the current fiscal year.

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.