Swedbank (OTCMKTS:SWDBY) Reaches New 12-Month High – What’s Next?

Swedbank AB (OTCMKTS:SWDBY)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as SEK 34.97 and last traded at SEK 34.90, with a volume of 8800 shares trading hands. The stock had previously closed at SEK 34.91.

Analysts Set New Price Targets

Several research analysts have recently commented on SWDBY shares. Citigroup reiterated a “neutral” rating on shares of Swedbank in a research note on Tuesday, October 14th. Morgan Stanley reaffirmed an “underweight” rating on shares of Swedbank in a report on Monday, November 24th. Zacks Research upgraded shares of Swedbank from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. Barclays reissued an “underweight” rating on shares of Swedbank in a research report on Wednesday, December 10th. Finally, The Goldman Sachs Group downgraded shares of Swedbank from a “hold” rating to a “sell” rating in a report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce”.

Swedbank Stock Down 0.0%

The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 3.83. The stock has a market cap of $39.27 billion, a P/E ratio of 12.07 and a beta of 0.65. The firm has a 50-day simple moving average of SEK 31.69 and a two-hundred day simple moving average of SEK 29.21.

Swedbank (OTCMKTS:SWDBY) last released its quarterly earnings results on Thursday, October 23rd. The financial services provider reported SEK 0.79 EPS for the quarter, beating the consensus estimate of SEK 0.64 by SEK 0.15. Swedbank had a net margin of 26.30% and a return on equity of 15.55%. The business had revenue of SEK 1.80 billion for the quarter, compared to the consensus estimate of SEK 1.73 billion. Equities research analysts expect that Swedbank AB will post 2.34 earnings per share for the current fiscal year.

About Swedbank

Swedbank AB is a major Swedish banking group headquartered in Stockholm that provides a broad range of financial services to retail, corporate and institutional clients. The bank’s operations focus on traditional banking functions such as deposit-taking, lending and payment services, as well as wealth management and insurance solutions. Swedbank’s franchise is centered on serving households, small and medium-sized enterprises and larger corporate customers, with an emphasis on everyday banking and long-term client relationships.

Products and services offered by Swedbank include savings and current accounts, mortgages and consumer lending, business loans and transaction banking, payment and card services, and digital banking platforms.