DNB Bank ASA (OTCMKTS:DNBBY) Announces Quarterly Earnings Results

DNB Bank ASA (OTCMKTS:DNBBY) released its earnings results on Tuesday. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03, Zacks reports. DNB Bank ASA had a net margin of 21.34% and a return on equity of 14.02%. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.28 billion.

DNB Bank ASA Trading Up 1.0%

DNBBY opened at $30.75 on Thursday. The firm has a market capitalization of $47.67 billion, a P/E ratio of 10.98 and a beta of 0.64. The firm’s 50 day moving average is $30.41 and its 200-day moving average is $30.26. DNB Bank ASA has a 52-week low of $24.77 and a 52-week high of $33.81. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 3.01.

Analyst Ratings Changes

DNBBY has been the subject of a number of research analyst reports. Morgan Stanley reaffirmed an “underweight” rating on shares of DNB Bank ASA in a research note on Wednesday, June 24th. Nordea Equity Research raised shares of DNB Bank ASA to a “buy” rating in a research report on Thursday, April 9th. Citigroup restated a “neutral” rating on shares of DNB Bank ASA in a report on Wednesday, July 8th. Zacks Research cut shares of DNB Bank ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 8th. Finally, Barclays upgraded shares of DNB Bank ASA from a “hold” rating to an “overweight” rating in a research note on Wednesday, April 8th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, DNB Bank ASA currently has a consensus rating of “Hold”.

About DNB Bank ASA

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.