Svenska Handelsbanken Ab Publ (OTCMKTS:SVNLY) Sets New 52-Week High – Here’s Why

Svenska Handelsbanken Ab Publ (OTCMKTS:SVNLY) reached a new 52-week high on Monday. The company traded as high as $8.26 and last traded at $8.25, with a volume of 4,206 shares changing hands. The stock had previously closed at $8.1650.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SVNLY. Citigroup reaffirmed a “sell” rating on shares of Svenska Handelsbanken Ab Publ in a research report on Friday, October 9th. Morgan Stanley reiterated an “underweight” rating on shares of Svenska Handelsbanken Ab Publ in a research report on Tuesday, September 1st. Barclays upgraded Svenska Handelsbanken Ab Publ from an “underweight” rating to a “positive” rating in a research report on Friday, October 9th. The Goldman Sachs Group reissued a “sell” rating on shares of Svenska Handelsbanken Ab Publ in a research note on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Svenska Handelsbanken Ab Publ in a research report on Wednesday, September 16th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Svenska Handelsbanken Ab Publ Stock Performance

The company’s 50-day moving average price is $7.74 and its two-hundred day moving average price is $7.47. The company has a market capitalization of $32.87 billion, a price-to-earnings ratio of 11.86 and a beta of 0.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.02 and a quick ratio of 2.02.

Svenska Handelsbanken Ab Publ (OTCMKTS:SVNLY) last issued its quarterly earnings results on Wednesday, October 21st. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Svenska Handelsbanken Ab Publ had a net margin of 17.64% and a return on equity of 14.23%. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.40 billion. On average, equities research analysts anticipate that Svenska Handelsbanken Ab Publ will post 0.56 EPS for the current fiscal year.

About Svenska Handelsbanken Ab Publ

Svenska Handelsbanken AB, commonly known as Handelsbanken, is a Swedish universal bank founded in Stockholm in 1871. It provides banking and financial services to individuals, businesses and institutions. Its services include deposit accounts, payments, mortgages and other lending, savings and investment products, and wealth management. The bank also serves corporate clients with financing and cash-management services. Handelsbanken is based in Sweden and has banking operations in the United Kingdom, Norway and the Netherlands.