DNB Bank ASA (OTCMKTS:DNBBY) Sets New 52-Week High – Time to Buy?

DNB Bank ASA (OTCMKTS:DNBBY)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $33.94 and last traded at $33.93, with a volume of 1464 shares trading hands. The stock had previously closed at $33.68.

Analysts Set New Price Targets

DNBBY has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of DNB Bank ASA in a research report on Thursday, July 30th. Citigroup reiterated a “neutral” rating on shares of DNB Bank ASA in a report on Wednesday, July 8th. Morgan Stanley reiterated an “underweight” rating on shares of DNB Bank ASA in a report on Wednesday, June 24th. 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. Finally, Zacks Research lowered DNB Bank ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

DNB Bank ASA Stock Up 1.2%

The firm has a market capitalization of $52.78 billion, a P/E ratio of 12.16, a P/E/G ratio of 9.37 and a beta of 0.64. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.70 and a quick ratio of 1.70. The company’s 50-day simple moving average is $31.48 and its two-hundred day simple moving average is $31.11.

DNB Bank ASA (OTCMKTS:DNBBY) last released 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 business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.28 billion. DNB Bank ASA had a return on equity of 13.97% and a net margin of 21.34%. As a group, research analysts expect that DNB Bank ASA will post 2.92 earnings per share for the current year.

About DNB Bank ASA

DNB Bank ASA (OTCMKTS: DNBBY) is Norway’s largest financial services group, offering a broad range of banking, insurance and capital markets services to retail, corporate and institutional clients. The bank’s core activities encompass retail and commercial banking, corporate and investment banking, asset management, life insurance and pension products, as well as payment and card services. DNB provides traditional deposit and lending products, mortgages, savings and wealth management solutions, securities trading, corporate finance and treasury services.

The group operates through several specialized business lines, including DNB Markets for investment banking and capital markets activities and DNB Asset Management for portfolio management and investment funds.