Swedbank (OTCMKTS:SWDBY) Shares Down 0.7% – Here’s Why

Shares of Swedbank AB (OTCMKTS:SWDBY) dropped 0.7% on Wednesday . The stock traded as low as SEK 37.40 and last traded at SEK 37.75. 18,300 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 28,306 shares. The stock had previously closed at SEK 38.02.

Wall Street Analyst Weigh In

SWDBY has been the topic of several research analyst reports. Citigroup reissued a “neutral” rating on shares of Swedbank in a research note on Tuesday. Zacks Research lowered shares of Swedbank from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 27th. Finally, Morgan Stanley reiterated an “underweight” rating on shares of Swedbank in a report on Wednesday, June 24th. Two analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Strong Sell”.

Swedbank Price Performance

The firm has a market cap of $42.44 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 2.01 and a beta of 0.69. The company has a fifty day moving average price of SEK 36.22 and a two-hundred day moving average price of SEK 36.49.

Swedbank (OTCMKTS:SWDBY) last released its earnings results on Wednesday, April 29th. The financial services provider reported SEK 0.71 earnings per share (EPS) for the quarter. The firm had revenue of SEK 1.87 billion for the quarter. Swedbank had a return on equity of 15.02% and a net margin of 30.22%. On average, research analysts expect that Swedbank AB will post 3.07 earnings per share for the current fiscal year.

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.