DNB Bank ASA (OTCMKTS:DNBBY) Sees Large Growth in Short Interest

DNB Bank ASA (OTCMKTS:DNBBY) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 47,995 shares, an increase of 311.3% from the August 31st total of 11,668 shares. Based on an average daily volume of 68,221 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.0% of the shares of the company are sold short.

Analyst Ratings Changes

DNBBY has been the topic of several research analyst reports. Citigroup reaffirmed a “neutral” rating on shares of DNB Bank ASA in a research report on Wednesday, July 8th. The Goldman Sachs Group downgraded DNB Bank ASA from a “hold” rating to a “sell” rating in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of DNB Bank ASA in a report on Wednesday, September 16th. Finally, Morgan Stanley reissued an “underweight” rating on shares of DNB Bank ASA in a report on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

DNB Bank ASA Trading Up 0.8%

Shares of OTCMKTS:DNBBY traded up $0.26 during trading on Friday, hitting $33.53. 29,591 shares of the company’s stock were exchanged, compared to its average volume of 51,618. The firm has a 50-day moving average price of $32.92 and a two-hundred day moving average price of $31.48. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 3.51. The firm has a market cap of $51.99 billion, a P/E ratio of 11.98, a PEG ratio of 9.52 and a beta of 0.65. DNB Bank ASA has a 1-year low of $25.26 and a 1-year high of $34.78.

DNB Bank ASA (OTCMKTS:DNBBY) last released its quarterly earnings data on Tuesday, July 14th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.03. DNB Bank ASA had a net margin of 21.34% and a return on equity of 13.97%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.28 billion. Equities analysts predict that DNB Bank ASA will post 2.88 earnings per share for the current year.

About DNB Bank ASA

DNB Bank ASA is a Norwegian financial services group headquartered in Oslo. It serves individuals, businesses, institutional customers and public-sector organizations through banking, financing and investment services. DNB is widely regarded as Norway’s largest bank and has a central role in the country’s financial system.

The company offers personal and business banking products, including deposit accounts, payment services, mortgages, consumer finance, corporate lending and leasing. Through its corporate and investment banking operations, DNB provides advisory services, capital markets solutions, securities services and financing for companies and institutions.