DNB Bank ASA (OTCMKTS:DNBBY) Shares Shorted: Short Interest Up 78.9% in October

DNB Bank ASA (OTCMKTS:DNBBY) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 27,105 shares, an increase of 78.9% from the September 30th total of 15,154 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 91,438 shares, the short-interest ratio is presently 0.3 days.

DNB Bank ASA Stock Down 1.2%

Shares of DNB Bank ASA stock traded down $0.42 during trading on Monday, hitting $34.35. 27,161 shares of the stock traded hands, compared to its average volume of 51,047. The firm has a market cap of $53.26 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 9.95 and a beta of 0.68. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 3.51. DNB Bank ASA has a 52-week low of $25.26 and a 52-week high of $35.00. The stock’s fifty day simple moving average is $33.45 and its 200 day simple moving average is $31.42.

DNB Bank ASA (OTCMKTS:DNBBY) last released its quarterly earnings data on Wednesday, October 21st. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. DNB Bank ASA had a net margin of 21.06% and a return on equity of 13.69%. The company had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.21 billion. On average, equities analysts predict that DNB Bank ASA will post 2.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DNBBY. The Goldman Sachs Group cut DNB Bank ASA from a “hold” rating to a “sell” rating in a research note on Monday, July 20th. Barclays lowered DNB Bank ASA from an “overweight” rating to a “strong sell” rating in a research note on Friday, October 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of DNB Bank ASA in a report on Wednesday, September 16th. Citigroup reaffirmed a “neutral” rating on shares of DNB Bank ASA in a research report on Friday, October 9th. Finally, Arctic Securiti upgraded DNB Bank ASA to a “strong-buy” rating in a research note on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

About DNB Bank ASA

DNB Bank ASA is a Norway-based financial services company and the principal banking subsidiary of DNB ASA, Norway’s largest financial group. The bank provides a broad range of services to individuals, businesses, institutional clients and public-sector organizations, including deposits, lending, mortgages, payment services, cards and everyday banking through digital and physical channels.

DNB also serves corporate and institutional customers with financing, cash management, trade finance, foreign exchange, investment banking and capital-markets services.