Nordea Bank (OTCMKTS:NRDBY) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Nordea Bank (OTCMKTS:NRDBY) from a strong sell rating to a hold rating in a research note published on Thursday morning,Zacks.com reports.

Several other research analysts also recently commented on NRDBY. Barclays reaffirmed an “underweight” rating on shares of Nordea Bank in a report on Wednesday, December 10th. Morgan Stanley restated an “overweight” rating on shares of Nordea Bank in a research report on Monday, November 24th. The Goldman Sachs Group lowered shares of Nordea Bank from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 4th. Nordea Equity Research cut Nordea Bank from a “buy” rating to a “neutral” rating in a research report on Thursday, December 4th. Finally, Citigroup reaffirmed a “buy” rating on shares of Nordea Bank in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Nordea Bank currently has a consensus rating of “Hold”.

Nordea Bank Stock Down 1.6%

NRDBY opened at $19.31 on Thursday. Nordea Bank has a twelve month low of $11.07 and a twelve month high of $20.61. The company’s 50-day moving average price is $19.20 and its two-hundred day moving average price is $17.38. The stock has a market cap of $66.19 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 3.44 and a beta of 0.63. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 6.33.

Nordea Bank (OTCMKTS:NRDBY) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.42 billion. Nordea Bank had a net margin of 22.36% and a return on equity of 15.61%. As a group, equities analysts expect 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.