Nordea Bank AB (OTCMKTS:NRDBY) Short Interest Up 392.6% in August

Nordea Bank AB (OTCMKTS:NRDBY) was the target of a significant increase in short interest in August. As of August 14th, there was short interest totaling 13,092 shares, an increase of 392.6% from the July 30th total of 2,658 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 193,698 shares, the days-to-cover ratio is currently 0.1 days.

Nordea Bank Trading Up 0.7%

OTCMKTS NRDBY opened at $20.43 on Friday. Nordea Bank has a 1-year low of $15.25 and a 1-year high of $20.89. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 6.79. The stock has a 50-day moving average of $19.60 and a 200-day moving average of $18.98. The firm has a market cap of $69.52 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 1.88 and a beta of 0.62.

Nordea Bank (OTCMKTS:NRDBY) last posted its quarterly earnings results on Thursday, July 16th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.41 billion. Nordea Bank had a return on equity of 15.18% and a net margin of 22.82%. As a group, sell-side analysts forecast that Nordea Bank will post 1.78 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on NRDBY shares. The Goldman Sachs Group reissued a “neutral” rating on shares of Nordea Bank in a research note on Monday, July 20th. Citigroup reaffirmed a “buy” rating on shares of Nordea Bank in a research note on Friday, July 17th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Nordea Bank in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Nordea Bank presently has a consensus rating of “Hold”.

Nordea Bank Company Profile

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.