Nordea Bank (OTCMKTS:NRDBY) Hits New 12-Month High – Still a Buy?

Nordea Bank AB (OTCMKTS:NRDBY) shares reached a new 52-week high during trading on Friday . The stock traded as high as $18.65 and last traded at $18.58, with a volume of 27306 shares traded. The stock had previously closed at $18.3760.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NRDBY shares. Barclays restated an “underweight” rating on shares of Nordea Bank in a research report on Wednesday, December 10th. Morgan Stanley reissued an “overweight” rating on shares of Nordea Bank in a research report on Monday, November 24th. Citigroup restated a “buy” rating on shares of Nordea Bank in a research note on Thursday, October 9th. Zacks Research downgraded shares of Nordea Bank from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, Nordea Equity Research lowered Nordea Bank from a “buy” rating to a “neutral” rating in a report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Nordea Bank Trading Up 1.1%

The firm has a market cap of $63.93 billion, a PE ratio of 12.22, a P/E/G ratio of 3.77 and a beta of 0.62. The company’s fifty day moving average price is $17.37 and its two-hundred day moving average price is $16.02. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 6.32.

Nordea Bank (OTCMKTS:NRDBY) last announced its quarterly earnings data on Thursday, October 16th. The company reported $0.42 EPS for the quarter. Nordea Bank had a net margin of 21.42% and a return on equity of 15.38%. The firm had revenue of $3.40 billion during the quarter. As a group, sell-side analysts forecast that Nordea Bank AB will post 1.4 earnings per share for the current fiscal year.

About Nordea Bank

Nordea Bank is a leading financial services group focused on serving retail, corporate and institutional customers across the Nordic region. The bank’s core activities include retail and commercial banking, corporate and institutional banking, asset and wealth management, and related financial services such as payments, cash management and trade finance. Nordea delivers these services through branch and digital channels, aiming to provide integrated banking solutions for everyday consumers, small and medium enterprises, and large corporations.

Product offerings span deposit and lending products including mortgages and consumer loans, transaction banking and treasury services for corporate clients, investment and pension solutions through its asset management businesses, and wealth management services for private clients.