DNB Bank ASA (OTCMKTS:DNBBY) Sees Strong Trading Volume – Time to Buy?

DNB Bank ASA (OTCMKTS:DNBBY) saw unusually-high trading volume on Wednesday . Approximately 180,325 shares changed hands during mid-day trading, an increase of 233% from the previous session’s volume of 54,202 shares.The stock last traded at $31.3070 and had previously closed at $30.90.

Wall Street Analysts Forecast Growth

DNBBY has been the topic of several analyst reports. Barclays upgraded DNB Bank ASA from a “hold” rating to an “overweight” rating in a research note on Wednesday, April 8th. Citigroup reiterated a “neutral” rating on shares of DNB Bank ASA in a research note on Wednesday, April 29th. Nordea Equity Research upgraded DNB Bank ASA to a “buy” rating in a research note on Thursday, April 9th. Pareto Securities downgraded DNB Bank ASA from a “buy” rating to a “hold” rating in a report on Thursday, February 5th. Finally, Morgan Stanley reissued an “underweight” rating on shares of DNB Bank ASA in a report on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

DNB Bank ASA Stock Performance

The company has a debt-to-equity ratio of 3.16, a current ratio of 1.44 and a quick ratio of 1.45. The firm has a market cap of $48.35 billion, a price-to-earnings ratio of 11.26 and a beta of 0.64. The firm has a fifty day simple moving average of $30.90 and a two-hundred day simple moving average of $29.14.

DNB Bank ASA (OTCMKTS:DNBBY) last released its earnings results on Thursday, April 23rd. The company reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. DNB Bank ASA had a return on equity of 14.63% and a net margin of 21.06%.The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.29 billion. On average, analysts expect that DNB Bank ASA will post 2.89 EPS for the current 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.