Swedbank (OTCMKTS:SWDBY) Share Price Passes Below 50 Day Moving Average – Here’s What Happened

Swedbank AB (OTCMKTS:SWDBY)’s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of SEK 35.32 and traded as low as SEK 35.07. Swedbank shares last traded at SEK 35.43, with a volume of 35,200 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SWDBY. Citigroup reiterated a “neutral” rating on shares of Swedbank in a research note on Thursday, May 7th. Zacks Research lowered Swedbank from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 27th. Finally, Morgan Stanley restated an “underweight” rating on shares of Swedbank in a research note on Tuesday, May 12th. Three research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Swedbank presently has a consensus rating of “Reduce”.

Swedbank Price Performance

The firm has a market capitalization of $39.86 billion, a P/E ratio of 11.86, a price-to-earnings-growth ratio of 1.88 and a beta of 0.69. The company has a debt-to-equity ratio of 3.42, a quick ratio of 1.50 and a current ratio of 1.51. The business has a 50 day simple moving average of SEK 35.32 and a two-hundred day simple moving average of SEK 35.66.

Swedbank (OTCMKTS:SWDBY) last announced its earnings results on Wednesday, April 29th. The financial services provider reported SEK 0.71 earnings per share for the quarter. The business had revenue of SEK 1.87 billion for the quarter. Swedbank had a return on equity of 15.02% and a net margin of 30.22%. On average, sell-side analysts expect that Swedbank AB will post 3.11 EPS for the current fiscal year.

About Swedbank

Swedbank AB is a major Swedish banking group headquartered in Stockholm that provides a broad range of financial services to retail, corporate and institutional clients. The bank’s operations focus on traditional banking functions such as deposit-taking, lending and payment services, as well as wealth management and insurance solutions. Swedbank’s franchise is centered on serving households, small and medium-sized enterprises and larger corporate customers, with an emphasis on everyday banking and long-term client relationships.

Products and services offered by Swedbank include savings and current accounts, mortgages and consumer lending, business loans and transaction banking, payment and card services, and digital banking platforms.