DNB Bank ASA (OTCMKTS:DNBBY) Sets New 12-Month High – Still a Buy?

DNB Bank ASA (OTCMKTS:DNBBY) hit a new 52-week high during mid-day trading on Tuesday. The stock traded as high as $34.8150 and last traded at $34.8150, with a volume of 6,877 shares. The stock had previously closed at $34.18.

Analysts Set New Price Targets

A number of research firms recently issued reports on DNBBY. Citigroup reissued a “neutral” rating on shares of DNB Bank ASA in a report on Friday, October 9th. Barclays downgraded shares of DNB Bank ASA from an “overweight” rating to a “strong sell” rating in a report on Friday, October 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of DNB Bank ASA in a report on Wednesday, September 16th. Finally, The Goldman Sachs Group cut shares of DNB Bank ASA from a “hold” rating to a “sell” rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

DNB Bank ASA Price Performance

The firm has a market cap of $53.96 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 9.68 and a beta of 0.70. The stock has a 50 day simple moving average of $33.33 and a two-hundred day simple moving average of $31.27. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.70 and a current ratio of 1.70.

DNB Bank ASA (OTCMKTS:DNBBY) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.03. DNB Bank ASA had a return on equity of 13.69% and a net margin of 21.06%. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.21 billion. Sell-side analysts expect that DNB Bank ASA will post 2.84 earnings per share for the current year.

DNB Bank ASA Company Profile

DNB Bank ASA is a Norway-based financial services company and the principal banking subsidiary of DNB ASA, Norway’s largest financial group. The bank provides a broad range of services to individuals, businesses, institutional clients and public-sector organizations, including deposits, lending, mortgages, payment services, cards and everyday banking through digital and physical channels.

DNB also serves corporate and institutional customers with financing, cash management, trade finance, foreign exchange, investment banking and capital-markets services.