Short Interest in Nordea Bank AB (OTCMKTS:NRDBY) Rises By 392.6%

Nordea Bank AB (OTCMKTS:NRDBY) was the target of a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 13,092 shares, a growth of 392.6% from the July 30th total of 2,658 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 193,698 shares, the days-to-cover ratio is presently 0.1 days.

Nordea Bank Stock Performance

NRDBY traded up $0.16 during trading on Thursday, hitting $20.45. The stock had a trading volume of 32,489 shares, compared to its average volume of 538,332. The firm has a market capitalization of $69.59 billion, a P/E ratio of 12.70, a PEG ratio of 1.89 and a beta of 0.62. The company has a debt-to-equity ratio of 6.79, a quick ratio of 1.18 and a current ratio of 1.18. Nordea Bank has a twelve month low of $15.25 and a twelve month high of $20.89. The company’s 50-day moving average price is $19.57 and its 200 day moving average price is $18.98.

Nordea Bank (OTCMKTS:NRDBY) last issued its quarterly earnings results on Thursday, July 16th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Nordea Bank had a net margin of 22.82% and a return on equity of 15.18%. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.41 billion. On average, equities research analysts forecast that Nordea Bank will post 1.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Nordea Bank in a research note on Tuesday, May 12th. Citigroup reaffirmed a “buy” rating on shares of Nordea Bank in a research report on Friday, July 17th. Finally, The Goldman Sachs Group restated a “neutral” rating on shares of Nordea Bank in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Nordea Bank Company Profile

Nordea Bank is a leading financial services group focused on serving retail, corporate and institutional customers across the Nordic region. The bank’s core activities include retail and commercial banking, corporate and institutional banking, asset and wealth management, and related financial services such as payments, cash management and trade finance. Nordea delivers these services through branch and digital channels, aiming to provide integrated banking solutions for everyday consumers, small and medium enterprises, and large corporations.

Product offerings span deposit and lending products including mortgages and consumer loans, transaction banking and treasury services for corporate clients, investment and pension solutions through its asset management businesses, and wealth management services for private clients.