DNB Bank ASA (OTCMKTS:DNBBY) Reaches New 12-Month High Following Analyst Upgrade

DNB Bank ASA (OTCMKTS:DNBBY)’s share price hit a new 52-week high on Wednesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $31.8505 and last traded at $31.8399, with a volume of 1375 shares traded. The stock had previously closed at $31.40.

A number of other research firms have also recently commented on DNBBY. Citigroup restated a “neutral” rating on shares of DNB Bank ASA in a research note on Tuesday, February 10th. Pareto Securities lowered DNB Bank ASA from a “buy” rating to a “hold” rating in a research note on Thursday, February 5th. Morgan Stanley restated an “underweight” rating on shares of DNB Bank ASA in a report on Thursday, February 12th. Finally, The Goldman Sachs Group downgraded DNB Bank ASA from a “buy” rating to a “hold” rating in a research report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold”.

DNB Bank ASA Price Performance

The stock’s 50 day moving average is $28.79 and its two-hundred day moving average is $27.28. 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 stock has a market capitalization of $47.30 billion, a PE ratio of 11.68 and a beta of 0.73.

DNB Bank ASA (OTCMKTS:DNBBY) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.10. DNB Bank ASA had a net margin of 21.00% and a return on equity of 14.91%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.35 billion. As a group, sell-side analysts forecast that DNB Bank ASA will post 2.43 earnings per share for the current fiscal year.

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.