Nordea Bank (OTCMKTS:NRDBY) Cut to Strong Sell at Zacks Research

Nordea Bank (OTCMKTS:NRDBY) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday,Zacks.com reports.

Several other analysts also recently weighed in on the stock. Nordea Equity Research downgraded shares of Nordea Bank from a “buy” rating to a “neutral” rating in a report on Thursday, December 4th. Kepler Capital Markets upgraded Nordea Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Morgan Stanley reiterated an “overweight” rating on shares of Nordea Bank in a report on Monday, November 24th. Citigroup restated a “buy” rating on shares of Nordea Bank in a report on Thursday. Finally, Barclays reaffirmed an “underweight” rating on shares of Nordea Bank in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Nordea Bank Stock Up 0.1%

Shares of NRDBY opened at $19.61 on Thursday. The company’s 50-day moving average price is $18.28 and its 200 day moving average price is $16.68. Nordea Bank has a 12-month low of $11.07 and a 12-month high of $19.73. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 6.32. The firm has a market cap of $67.34 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 4.01 and a beta of 0.63.

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

Nordea Bank Company Profile

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.