Danske Bank (OTCMKTS:DNKEY) Stock Crosses Above 50 Day Moving Average – Here’s Why

Danske Bank (OTCMKTS:DNKEY)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $27.31 and traded as high as $29.10. Danske Bank shares last traded at $29.0060, with a volume of 29,748 shares.

Analyst Upgrades and Downgrades

DNKEY has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Danske Bank in a report on Thursday, July 30th. Citigroup reiterated a “buy” rating on shares of Danske Bank in a research note on Monday, July 6th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Danske Bank in a report on Monday, July 20th. Finally, Morgan Stanley restated an “overweight” rating on shares of Danske Bank in a report on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Danske Bank Stock Performance

The company has a debt-to-equity ratio of 8.09, a quick ratio of 1.76 and a current ratio of 1.76. The stock has a market cap of $47.33 billion, a PE ratio of 12.83 and a beta of 0.61. The firm has a fifty day moving average price of $27.31 and a 200 day moving average price of $26.22.

Danske Bank (OTCMKTS:DNKEY) last announced its earnings results on Friday, July 17th. The financial services provider reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.03. Danske Bank had a return on equity of 13.80% and a net margin of 40.85%.The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.24 billion. Research analysts forecast that Danske Bank will post 2.26 earnings per share for the current fiscal year.

About Danske Bank

Danske Bank A/S is a major Danish banking group headquartered in Copenhagen. The firm traces its origins to the 19th century and has grown through mergers and organic expansion into one of the region’s largest financial institutions. Its shares are primarily listed on Nasdaq Copenhagen, and American investors may encounter the bank’s ADR trading on the U.S. over-the-counter market under the symbol DNKEY.

The bank provides a broad range of financial products and services across retail, commercial and institutional segments.