DNB Bank ASA (OTCMKTS:DNBBY) Shares Gap Up – Here’s What Happened

DNB Bank ASA (OTCMKTS:DNBBY)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $27.95, but opened at $29.0599. DNB Bank ASA shares last traded at $27.89, with a volume of 2,530 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DNBBY. Citigroup reissued a “neutral” rating on shares of DNB Bank ASA in a report on Tuesday, October 14th. The Goldman Sachs Group cut DNB Bank ASA from a “buy” rating to a “hold” rating in a research report on Thursday, December 4th. Finally, Zacks Research raised DNB Bank ASA from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold”.

DNB Bank ASA Price Performance

The company has a 50-day moving average of $26.65 and a 200-day moving average of $26.63. The company has a debt-to-equity ratio of 3.42, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market cap of $41.12 billion, a price-to-earnings ratio of 10.19 and a beta of 0.73.

DNB Bank ASA (OTCMKTS:DNBBY) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $0.69 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.69. DNB Bank ASA had a net margin of 21.20% and a return on equity of 15.17%. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.23 billion. As a group, equities research analysts predict that DNB Bank ASA will post 2.43 earnings per share for the current year.

DNB Bank ASA Company Profile

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.