Short Interest in Nordea Bank AB (OTCMKTS:NRDBY) Rises By 392.6%

Nordea Bank AB (OTCMKTS:NRDBY) saw a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 13,092 shares, a growth of 392.6% from the July 30th total of 2,658 shares. Based on an average daily volume of 193,698 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

NRDBY has been the subject of a number of recent research reports. Citigroup reiterated a “buy” rating on shares of Nordea Bank in a research note on Friday, July 17th. The Goldman Sachs Group restated a “neutral” rating on shares of Nordea Bank in a report on Monday, July 20th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Nordea Bank in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Nordea Bank Stock Down 0.4%

NRDBY stock traded down $0.09 during trading on Wednesday, reaching $20.34. The stock had a trading volume of 26,546 shares, compared to its average volume of 541,099. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 6.79. The firm has a fifty day moving average price of $19.55 and a 200 day moving average price of $18.97. The company has a market capitalization of $69.21 billion, a P/E ratio of 12.63, a PEG ratio of 1.86 and a beta of 0.62. Nordea Bank has a 1-year low of $15.24 and a 1-year high of $20.89.

Nordea Bank (OTCMKTS:NRDBY) last announced its earnings results on Thursday, July 16th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. Nordea Bank had a return on equity of 15.18% and a net margin of 22.82%.The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.41 billion. On average, equities analysts anticipate that Nordea Bank will post 1.78 earnings per share for the current year.

Nordea Bank Company Profile

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.