DNB Bank ASA (OTCMKTS:DNBBY) Sees Unusually-High Trading Volume After Better-Than-Expected Earnings

DNB Bank ASA (OTCMKTS:DNBBY) saw unusually-strong trading volume on Thursday following a better than expected earnings announcement. Approximately 50,769 shares changed hands during mid-day trading, a decline of 0% from the previous session’s volume of 50,963 shares. The stock last traded at $33.62 and had previously closed at $33.63.

The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. DNB Bank ASA had a return on equity of 13.69% and a net margin of 21.06%. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.21 billion.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DNBBY. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of DNB Bank ASA in a research report on Wednesday, September 16th. Citigroup reaffirmed a “neutral” rating on shares of DNB Bank ASA in a research note on Friday, October 9th. The Goldman Sachs Group cut DNB Bank ASA from a “hold” rating to a “sell” rating in a report on Monday, July 20th. Finally, Barclays cut DNB Bank ASA from an “overweight” rating to a “strong sell” rating in a research note on Friday, October 9th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

DNB Bank ASA Trading Up 1.0%

The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 3.51. The stock has a market cap of $52.44 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 9.59 and a beta of 0.70. The business’s 50 day simple moving average is $33.34 and its 200 day simple moving average is $31.80.

DNB Bank ASA Company Profile

DNB Bank ASA is a Norway-based financial services company and the principal banking subsidiary of DNB ASA, Norway’s largest financial group. The bank provides a broad range of services to individuals, businesses, institutional clients and public-sector organizations, including deposits, lending, mortgages, payment services, cards and everyday banking through digital and physical channels.

DNB also serves corporate and institutional customers with financing, cash management, trade finance, foreign exchange, investment banking and capital-markets services.