Swedbank (OTCMKTS:SWDBY) Stock Price Down 10.3% – Here’s Why

Swedbank AB (OTCMKTS:SWDBY)’s stock price dropped 10.3% during trading on Thursday . The stock traded as low as SEK 32.37 and last traded at SEK 32.47. Approximately 6,166 shares were traded during trading, a decline of 75% from the average daily volume of 24,291 shares. The stock had previously closed at SEK 36.20.

Analysts Set New Price Targets

A number of brokerages have issued reports on SWDBY. The Goldman Sachs Group lowered Swedbank from a “hold” rating to a “sell” rating in a research note on Thursday, December 4th. Morgan Stanley reissued an “underweight” rating on shares of Swedbank in a research note on Thursday, February 12th. Barclays reaffirmed an “underweight” rating on shares of Swedbank in a research note on Wednesday, December 10th. Citigroup reaffirmed a “neutral” rating on shares of Swedbank in a report on Tuesday, January 20th. Finally, Zacks Research upgraded shares of Swedbank from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Swedbank currently has a consensus rating of “Reduce”.

Swedbank Price Performance

The company has a market cap of $36.27 billion, a P/E ratio of 10.89 and a beta of 0.69. The company has a debt-to-equity ratio of 3.42, a current ratio of 1.51 and a quick ratio of 1.50. The company has a fifty day simple moving average of SEK 37.94 and a 200-day simple moving average of SEK 33.90.

Swedbank (OTCMKTS:SWDBY) last issued its earnings results on Thursday, January 29th. The financial services provider reported SEK 0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of SEK 0.67 by SEK 0.10. The business had revenue of SEK 1.84 billion for the quarter, compared to analysts’ expectations of SEK 1.79 billion. Swedbank had a return on equity of 15.50% and a net margin of 30.27%. On average, sell-side analysts predict that Swedbank AB will post 2.34 earnings per share for the current year.

Swedbank Company Profile

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.