Nordea Bank (OTCMKTS:NRDBY) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Nordea Bank (OTCMKTS:NRDBY) from a hold rating to a strong sell rating in a report released on Thursday morning,Zacks.com reports.

NRDBY has been the topic of several other research reports. Morgan Stanley reaffirmed an “overweight” rating on shares of Nordea Bank in a research report on Monday, November 24th. Citigroup reaffirmed a “buy” rating on shares of Nordea Bank in a research report on Thursday. Barclays reiterated an “underweight” rating on shares of Nordea Bank in a report on Wednesday, December 10th. Kepler Capital Markets upgraded Nordea Bank from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Finally, Nordea Equity Research downgraded shares of Nordea Bank from a “buy” rating to a “neutral” rating in a report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Nordea Bank Price Performance

Shares of NRDBY opened at $19.61 on Thursday. The business’s fifty day moving average is $18.28 and its 200 day moving average is $16.69. Nordea Bank has a 12-month low of $11.07 and a 12-month high of $19.73. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 6.32. The stock has a market cap of $67.34 billion, a P/E ratio of 12.90, a P/E/G ratio of 4.01 and a beta of 0.63.

Nordea Bank (OTCMKTS:NRDBY) last released its quarterly earnings data on Thursday, October 16th. The company reported $0.42 earnings per share for the quarter. The firm had revenue of $3.40 billion for the quarter. Nordea Bank had a net margin of 21.42% and a return on equity of 15.38%. Sell-side analysts anticipate that Nordea Bank will post 1.4 earnings per share for the current fiscal year.

About Nordea Bank

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.