Svenska Handelsbanken Ab Publ (OTCMKTS:SVNLY) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Svenska Handelsbanken Ab Publ (OTCMKTS:SVNLY) posted its quarterly earnings results on Wednesday. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01, Zacks reports. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. Svenska Handelsbanken Ab Publ had a net margin of 17.64% and a return on equity of 14.23%.

Svenska Handelsbanken Ab Publ Stock Down 1.2%

Shares of OTCMKTS SVNLY opened at $7.42 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.02 and a current ratio of 2.02. Svenska Handelsbanken Ab Publ has a 1 year low of $6.14 and a 1 year high of $8.26. The stock’s 50-day simple moving average is $7.68 and its 200-day simple moving average is $7.38. The firm has a market cap of $29.38 billion, a price-to-earnings ratio of 10.45 and a beta of 0.62.

Analyst Upgrades and Downgrades

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

About Svenska Handelsbanken Ab Publ

Svenska Handelsbanken AB (publ), commonly known as Handelsbanken, is a Swedish universal bank providing financial services to individuals, businesses and institutional customers. Its offerings include deposit accounts, lending, mortgages, payment services, cash management, financial advice and other banking solutions.

The bank also provides corporate and investment banking services, including financing, capital markets support, foreign exchange and securities-related services. Through affiliated operations, Handelsbanken offers asset management, pension and insurance-related products to selected customers.

Founded in Stockholm in 1871, Handelsbanken has historically developed a decentralized banking model in which local branches have significant responsibility for customer relationships and credit decisions.