Nordea Bank (OTCMKTS:NRDBY) Sees Large Volume Increase Following Strong Earnings
by Michael Walen · The Markets DailyNordea Bank AB (OTCMKTS:NRDBY – Get Free Report) shares saw strong trading volume on Thursday following a better than expected earnings announcement. 3,783,462 shares changed hands during trading, an increase of 1,010% from the previous session’s volume of 340,999 shares.The stock last traded at $19.4520 and had previously closed at $20.03.
The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. Nordea Bank had a return on equity of 15.38% and a net margin of 21.42%.
Analysts Set New Price Targets
Several brokerages have issued reports on NRDBY. Morgan Stanley reaffirmed an “overweight” rating on shares of Nordea Bank in a report on Monday, November 24th. Nordea Equity Research downgraded Nordea Bank from a “buy” rating to a “neutral” rating in a research report on Thursday, December 4th. Zacks Research lowered Nordea Bank from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. Barclays reissued an “underweight” rating on shares of Nordea Bank in a research report on Wednesday, December 10th. Finally, Kepler Capital Markets raised Nordea Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.
View Our Latest Analysis on NRDBY
Nordea Bank Trading Down 2.9%
The stock has a market capitalization of $66.79 billion, a PE ratio of 12.80, a PEG ratio of 3.68 and a beta of 0.63. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 6.32. The business’s 50-day moving average is $18.71 and its two-hundred day moving average is $16.97.
About Nordea Bank
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.