DNB Bank ASA (OTCMKTS:DNBBY) Reaches New 1-Year High Following Earnings Beat

Shares of DNB Bank ASA (OTCMKTS:DNBBY) reached a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $30.31 and last traded at $30.31, with a volume of 1214 shares trading hands. The stock had previously closed at $29.51.

The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.35 billion. DNB Bank ASA had a return on equity of 14.91% and a net margin of 21.00%.

Wall Street Analysts Forecast Growth

DNBBY has been the subject of a number of recent research reports. Citigroup reaffirmed a “neutral” rating on shares of DNB Bank ASA in a research note on Tuesday, October 14th. Pareto Securities lowered shares of DNB Bank ASA from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Research raised shares of DNB Bank ASA from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. Morgan Stanley reissued an “underweight” rating on shares of DNB Bank ASA in a research note on Friday, January 9th. Finally, The Goldman Sachs Group cut DNB Bank ASA from a “buy” rating to a “hold” rating in a research report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

DNB Bank ASA Price Performance

The company has a debt-to-equity ratio of 3.42, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market capitalization of $44.48 billion, a price-to-earnings ratio of 10.99 and a beta of 0.73. The stock has a 50 day moving average price of $27.94 and a two-hundred day moving average price of $26.89.

DNB Bank ASA Company Profile

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.