DNB Bank ASA (OTCMKTS:DNBBY) Sees Strong Trading Volume on Earnings Beat

DNB Bank ASA (OTCMKTS:DNBBY) shares saw an uptick in trading volume on Thursday after the company announced better than expected quarterly earnings. Approximately 50,769 shares were traded 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 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.03. DNB Bank ASA had a net margin of 21.06% and a return on equity of 13.69%. The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.21 billion.

Wall Street Analyst Weigh In

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

DNB Bank ASA Stock Up 1.0%

The business has a fifty day moving average of $33.34 and a 200 day moving average of $31.80. The firm has a market cap of $52.44 billion, a P/E ratio of 12.08, a P/E/G ratio of 9.59 and a beta of 0.70. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 3.51.

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.