Nordea Bank AB (OTCMKTS:NRDBY) Sees Large Decline in Short Interest

Nordea Bank AB (OTCMKTS:NRDBY) was the target of a large decline in short interest in the month of October. As of October 30th, there was short interest totaling 2,429 shares, a decline of 97.9% from the October 15th total of 118,419 shares. Based on an average trading volume of 626,371 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the shares of the company are sold short.

Nordea Bank Price Performance

Shares of OTCMKTS:NRDBY traded down $0.20 on Wednesday, hitting $18.78. The company’s stock had a trading volume of 31,056 shares, compared to its average volume of 462,465. The company has a 50-day simple moving average of $19.14 and a 200 day simple moving average of $19.09. Nordea Bank has a 1 year low of $16.35 and a 1 year high of $21.39. The company has a market capitalization of $63.90 billion, a PE ratio of 11.81, a PEG ratio of 1.40 and a beta of 0.75. The company has a debt-to-equity ratio of 6.68, a current ratio of 1.18 and a quick ratio of 1.18.

Nordea Bank (OTCMKTS:NRDBY) last issued its quarterly earnings data on Thursday, October 15th. The company reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. The company had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.37 billion. Nordea Bank had a return on equity of 15.06% and a net margin of 22.74%. Sell-side analysts forecast that Nordea Bank will post 1.77 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NRDBY shares. Citigroup restated a “buy” rating on shares of Nordea Bank in a research report on Friday, July 17th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Nordea Bank in a research report on Wednesday, September 16th. Finally, The Goldman Sachs Group reiterated a “neutral” rating on shares of Nordea Bank in a research note on Monday, July 20th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Nordea Bank Company Profile

Nordea Bank Abp is a financial services group headquartered in Helsinki, Finland. It provides banking and related services to individuals, businesses and institutions, with a focus on the Nordic region. Its offerings include everyday and savings accounts, mortgages, consumer loans, payment services, and investment and wealth-management services for personal customers. For businesses and institutions, Nordea provides lending, cash management, trade finance, capital-markets services and other corporate banking solutions.