DNB Bank ASA (OTCMKTS:DNBBY) Shares Shorted: Short Interest Up 78.9% in October

DNB Bank ASA (OTCMKTS:DNBBY) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 27,105 shares, a growth of 78.9% from the September 30th total of 15,154 shares. Based on an average trading volume of 91,438 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

DNBBY has been the topic of a number of analyst reports. The Goldman Sachs Group cut shares of DNB Bank ASA from a “hold” rating to a “sell” rating in a research note on Monday, July 20th. Barclays cut shares of DNB Bank ASA from an “overweight” rating to a “strong sell” rating in a research note on Friday, October 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of DNB Bank ASA in a research report on Wednesday, September 16th. Citigroup reiterated a “neutral” rating on shares of DNB Bank ASA in a research report on Friday, October 9th. Finally, Arctic Securiti raised shares of DNB Bank ASA to a “strong-buy” rating in a research note on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

DNB Bank ASA Price Performance

Shares of OTCMKTS:DNBBY traded up $0.23 during midday trading on Friday, reaching $34.77. 64,594 shares of the company’s stock traded hands, compared to its average volume of 46,448. DNB Bank ASA has a 1 year low of $25.26 and a 1 year high of $35.00. The company has a market cap of $53.91 billion, a P/E ratio of 12.42, a PEG ratio of 9.95 and a beta of 0.70. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.70 and a current ratio of 1.70. The company has a fifty day simple moving average of $33.45 and a two-hundred day simple moving average of $31.42.

DNB Bank ASA (OTCMKTS:DNBBY) last issued its quarterly earnings results on Wednesday, October 21st. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. The company had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.21 billion. DNB Bank ASA had a net margin of 21.06% and a return on equity of 13.69%. Equities analysts predict that DNB Bank ASA will post 2.84 EPS for the current fiscal year.

DNB Bank ASA Company Profile

DNB Bank ASA is a Norway-based financial services company and the principal banking subsidiary of DNB ASA, Norway’s largest financial group. The bank provides a broad range of services to individuals, businesses, institutional clients and public-sector organizations, including deposits, lending, mortgages, payment services, cards and everyday banking through digital and physical channels.

DNB also serves corporate and institutional customers with financing, cash management, trade finance, foreign exchange, investment banking and capital-markets services.