Swedbank (OTCMKTS:SWDBY) Share Price Passes Above 50-Day Moving Average – Here’s Why

Swedbank AB (OTCMKTS:SWDBY)’s stock price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of SEK 38.68 and traded as high as SEK 39.52. Swedbank shares last traded at SEK 39.31, with a volume of 47,300 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SWDBY. Citigroup reiterated a “neutral” rating on shares of Swedbank in a research note on Tuesday, July 7th. The Goldman Sachs Group raised Swedbank from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Swedbank in a research report on Thursday, July 30th. Finally, Morgan Stanley reiterated an “underweight” rating on shares of Swedbank in a report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Swedbank Price Performance

The company’s 50-day simple moving average is SEK 38.73 and its 200-day simple moving average is SEK 37.03. The company has a debt-to-equity ratio of 4.25, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market capitalization of $44.28 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 2.15 and a beta of 0.68.

Swedbank (OTCMKTS:SWDBY) last posted its earnings results on Friday, July 17th. The financial services provider reported SEK 0.68 EPS for the quarter. The company had revenue of SEK 1.93 billion for the quarter. Swedbank had a return on equity of 14.84% and a net margin of 29.45%. Research analysts forecast that Swedbank AB will post 2.97 earnings per share for the current fiscal year.

About Swedbank

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.