DNB Bank ASA (OTCMKTS:DNBBY) Short Interest Up 195.9% in July

DNB Bank ASA (OTCMKTS:DNBBY) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 24,252 shares, an increase of 195.9% from the July 15th total of 8,197 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily volume of 63,995 shares, the short-interest ratio is currently 0.4 days.

Analysts Set New Price Targets

DNBBY has been the topic of several analyst reports. Morgan Stanley restated an “underweight” rating on shares of DNB Bank ASA in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of DNB Bank ASA in a research report on Thursday, July 30th. The Goldman Sachs Group lowered DNB Bank ASA from a “hold” rating to a “sell” rating in a report on Monday, July 20th. Citigroup reaffirmed a “neutral” rating on shares of DNB Bank ASA in a research report on Wednesday, July 8th. Finally, Zacks Research lowered DNB Bank ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

DNB Bank ASA Stock Performance

DNBBY traded up $0.40 during trading on Thursday, hitting $32.82. 19,677 shares of the company traded hands, compared to its average volume of 55,601. DNB Bank ASA has a one year low of $25.26 and a one year high of $33.81. The stock’s fifty day moving average is $30.72 and its 200 day moving average is $30.77. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 3.51. The firm has a market cap of $50.88 billion, a P/E ratio of 11.72, a price-to-earnings-growth ratio of 9.05 and a beta of 0.65.

DNB Bank ASA (OTCMKTS:DNBBY) last announced its quarterly earnings data on Tuesday, July 14th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. DNB Bank ASA had a net margin of 21.34% and a return on equity of 13.97%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.28 billion. As a group, equities analysts predict that DNB Bank ASA will post 2.89 EPS 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.