Svenska Handelsbanken Ab Publ (OTCMKTS:SVNLY) Stock Price Passes Above Fifty Day Moving Average – Here’s Why

Svenska Handelsbanken Ab Publ (OTCMKTS:SVNLY) shares passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $7.59 and traded as high as $7.76. Svenska Handelsbanken Ab Publ shares last traded at $7.75, with a volume of 93,064 shares.

Analyst Ratings Changes

Several research analysts have recently weighed in on SVNLY shares. Citigroup downgraded shares of Svenska Handelsbanken Ab Publ from a “hold” rating to a “sell” rating in a research report on Thursday, July 16th. Barclays reaffirmed an “underweight” rating on shares of Svenska Handelsbanken Ab Publ in a research report on Monday, June 22nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Svenska Handelsbanken Ab Publ in a report on Wednesday. Morgan Stanley reissued an “underweight” rating on shares of Svenska Handelsbanken Ab Publ in a research report on Tuesday, September 1st. Finally, The Goldman Sachs Group reissued a “sell” rating on shares of Svenska Handelsbanken Ab Publ in a research note on Monday, July 20th. One research analyst has rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Svenska Handelsbanken Ab Publ has a consensus rating of “Strong Sell”.

Svenska Handelsbanken Ab Publ Stock Down 1.1%

The business has a 50 day simple moving average of $7.59 and a 200 day simple moving average of $7.31. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.02 and a quick ratio of 2.02. The stock has a market cap of $30.69 billion, a PE ratio of 10.92, a P/E/G ratio of 0.46 and a beta of 0.61.

Svenska Handelsbanken Ab Publ (OTCMKTS:SVNLY) last posted its quarterly earnings results on Wednesday, July 15th. The company reported $0.14 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.14. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.45 billion. Svenska Handelsbanken Ab Publ had a return on equity of 14.30% and a net margin of 17.75%. On average, equities research analysts forecast that Svenska Handelsbanken Ab Publ will post 0.6 EPS for the current fiscal year.

About Svenska Handelsbanken Ab Publ

Svenska Handelsbanken AB (publ) is a Swedish universal bank that provides banking and financial services to individuals, businesses and institutional customers. Its offerings include deposits, lending, mortgages, payment services, savings and investment products, corporate finance, and asset management.

Founded in Stockholm in 1871, Handelsbanken has developed a decentralized business model that gives local branches substantial responsibility for customer relationships and credit decisions.