Short Interest in DNB Bank ASA (OTCMKTS:DNBBY) Decreases By 56.5%

DNB Bank ASA (OTCMKTS:DNBBY) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totaling 11,668 shares, a decline of 56.5% from the August 15th total of 26,818 shares. Based on an average daily trading volume, of 56,681 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the company’s stock are sold short.

DNB Bank ASA Price Performance

Shares of OTCMKTS DNBBY opened at $33.68 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 3.51. The stock has a market cap of $52.22 billion, a P/E ratio of 12.03, a P/E/G ratio of 9.69 and a beta of 0.65. The stock has a 50 day moving average of $32.45 and a two-hundred day moving average of $31.34. DNB Bank ASA has a twelve month low of $25.26 and a twelve month high of $34.78.

DNB Bank ASA (OTCMKTS:DNBBY) last issued its quarterly earnings results on Tuesday, July 14th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.03. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.28 billion. DNB Bank ASA had a return on equity of 13.97% and a net margin of 21.34%. On average, research analysts forecast that DNB Bank ASA will post 2.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Morgan Stanley reaffirmed an “underweight” rating on shares of DNB Bank ASA in a report on Wednesday, June 24th. Citigroup restated a “neutral” rating on shares of DNB Bank ASA in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of DNB Bank ASA in a report on Thursday, July 30th. Finally, The Goldman Sachs Group downgraded DNB Bank ASA from a “hold” rating to a “sell” rating in a report on Monday, July 20th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

About DNB Bank ASA

DNB Bank ASA is a Norwegian financial services group headquartered in Oslo. It serves individuals, businesses, institutional customers and public-sector organizations through banking, financing and investment services. DNB is widely regarded as Norway’s largest bank and has a central role in the country’s financial system.

The company offers personal and business banking products, including deposit accounts, payment services, mortgages, consumer finance, corporate lending and leasing. Through its corporate and investment banking operations, DNB provides advisory services, capital markets solutions, securities services and financing for companies and institutions.