Nordea Bank (OTCMKTS:NRDBY) Shares Gap Down – Time to Sell?

Nordea Bank AB (OTCMKTS:NRDBY)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $18.34, but opened at $17.44. Nordea Bank shares last traded at $18.3660, with a volume of 2,978 shares changing hands.

Wall Street Analysts Forecast Growth

NRDBY has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Nordea Bank from a “strong sell” rating to a “hold” rating in a report on Thursday, February 12th. Morgan Stanley reiterated an “overweight” rating on shares of Nordea Bank in a research note on Tuesday. Finally, Citigroup restated a “buy” rating on shares of Nordea Bank in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold”.

Nordea Bank Price Performance

The company has a debt-to-equity ratio of 6.33, a current ratio of 1.23 and a quick ratio of 1.23. The business’s 50 day moving average price is $18.24 and its 200 day moving average price is $18.49. The stock has a market capitalization of $62.64 billion, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 2.02 and a beta of 0.64.

Nordea Bank (OTCMKTS:NRDBY) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Nordea Bank had a net margin of 22.65% and a return on equity of 15.15%. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.37 billion. Sell-side analysts forecast that Nordea Bank AB will post 1.63 EPS 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.