DNB Bank ASA (OTCMKTS:DNBBY) Issues Earnings Results

DNB Bank ASA (OTCMKTS:DNBBY) posted its earnings results on Thursday. The company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67, Zacks reports. DNB Bank ASA had a net margin of 21.00% and a return on equity of 14.72%.

DNB Bank ASA Trading Down 9.3%

Shares of OTCMKTS DNBBY traded down $3.10 during midday trading on Thursday, reaching $30.29. The stock had a trading volume of 9,023 shares, compared to its average volume of 53,390. The firm has a market cap of $46.96 billion, a price-to-earnings ratio of 11.05 and a beta of 0.68. DNB Bank ASA has a twelve month low of $24.60 and a twelve month high of $33.81. The company has a debt-to-equity ratio of 3.16, a quick ratio of 1.45 and a current ratio of 1.44. The company’s 50 day moving average price is $31.29 and its 200 day moving average price is $28.70.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DNBBY shares. Morgan Stanley reissued an “underweight” rating on shares of DNB Bank ASA in a report on Thursday, April 16th. Nordea Equity Research raised shares of DNB Bank ASA to a “buy” rating in a research note on Thursday, April 9th. Zacks Research raised shares of DNB Bank ASA from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 17th. Citigroup reaffirmed a “neutral” rating on shares of DNB Bank ASA in a report on Tuesday, February 10th. Finally, Pareto Securities downgraded DNB Bank ASA from a “buy” rating to a “hold” rating in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, DNB Bank ASA currently has an average rating of “Hold”.

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.