Nordea Bank (OTCMKTS:NRDBY) Sees Large Volume Increase After Strong Earnings

Nordea Bank AB (OTCMKTS:NRDBY) saw an uptick in trading volume on Thursday following a better than expected earnings announcement. 3,783,462 shares were traded during trading, an increase of 1,010% from the previous session’s volume of 340,999 shares.The stock last traded at $19.4520 and had previously closed at $20.03.

The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. Nordea Bank had a return on equity of 15.38% and a net margin of 21.42%.

Wall Street Analysts Forecast Growth

NRDBY has been the topic of a number of recent research reports. Citigroup reiterated a “buy” rating on shares of Nordea Bank in a research report on Thursday, January 15th. The Goldman Sachs Group cut shares of Nordea Bank from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 4th. Kepler Capital Markets raised shares of Nordea Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Nordea Equity Research cut shares of Nordea Bank from a “buy” rating to a “neutral” rating in a research report on Thursday, December 4th. Finally, Barclays restated an “underweight” rating on shares of Nordea Bank in a research report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold”.

Nordea Bank Trading Down 2.8%

The company has a debt-to-equity ratio of 6.32, a current ratio of 1.23 and a quick ratio of 1.23. The firm’s 50 day moving average price is $18.76 and its 200 day moving average price is $16.98. The stock has a market capitalization of $66.82 billion, a P/E ratio of 12.80, a P/E/G ratio of 3.58 and a beta of 0.63.

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.