DNB Bank ASA (OTCMKTS:DNBBY) Sees Large Drop in Short Interest

DNB Bank ASA (OTCMKTS:DNBBY) saw a large drop in short interest in May. As of May 15th, there was short interest totaling 1,769 shares, a drop of 54.6% from the April 30th total of 3,900 shares. Based on an average daily volume of 99,569 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the shares of the company are sold short.

DNB Bank ASA Price Performance

DNBBY remained flat at $30.93 during trading on Tuesday. The company’s stock had a trading volume of 56,636 shares, compared to its average volume of 80,423. The company’s 50 day moving average price is $31.05 and its 200 day moving average price is $29.49. The company has a market capitalization of $47.95 billion, a PE ratio of 11.17 and a beta of 0.63. DNB Bank ASA has a 52-week low of $24.77 and a 52-week high of $33.81. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 3.01.

DNB Bank ASA (OTCMKTS:DNBBY) last released its earnings results on Thursday, April 23rd. The company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.29 billion. DNB Bank ASA had a return on equity of 14.23% and a net margin of 21.06%. On average, sell-side analysts forecast that DNB Bank ASA will post 2.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DNBBY shares. Citigroup restated a “neutral” rating on shares of DNB Bank ASA in a research report on Wednesday, April 29th. Pareto Securities downgraded DNB Bank ASA from a “buy” rating to a “hold” rating in a research report on Thursday, February 5th. Zacks Research downgraded DNB Bank ASA from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 8th. Morgan Stanley reiterated an “underweight” rating on shares of DNB Bank ASA in a research report on Tuesday, May 12th. Finally, Nordea Equity Research upgraded DNB Bank ASA to a “buy” rating in a research report on Thursday, April 9th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, DNB Bank ASA has a consensus rating of “Hold”.

About DNB Bank ASA

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.