Swedbank (OTCMKTS:SWDBY) Announces Quarterly Earnings Results

Swedbank (OTCMKTS:SWDBY) announced its quarterly earnings data on Thursday. The financial services provider reported SEK 0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of SEK 0.67 by SEK 0.10, Zacks reports. Swedbank had a net margin of 30.27% and a return on equity of 15.87%. The company had revenue of SEK 1.84 billion during the quarter, compared to analysts’ expectations of SEK 1.79 billion.

Swedbank Price Performance

Shares of OTCMKTS SWDBY opened at SEK 39.03 on Friday. The company has a fifty day moving average price of SEK 34.95 and a 200 day moving average price of SEK 31.17. Swedbank has a 1-year low of SEK 19.16 and a 1-year high of SEK 40.22. The firm has a market cap of $43.92 billion, a PE ratio of 13.19 and a beta of 0.66. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 3.83.

Analysts Set New Price Targets

A number of research analysts have commented on SWDBY shares. Zacks Research cut shares of Swedbank from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Morgan Stanley reaffirmed an “underweight” rating on shares of Swedbank in a research note on Monday, November 24th. Citigroup reiterated a “neutral” rating on shares of Swedbank in a research note on Tuesday, January 20th. The Goldman Sachs Group downgraded Swedbank from a “hold” rating to a “sell” rating in a research report on Thursday, December 4th. Finally, Barclays restated an “underweight” rating on shares of Swedbank in a report on Wednesday, December 10th. Four analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce”.

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.