DNB Bank ASA (OTCMKTS:DNBBY) Hits New 12-Month High – Should You Buy?

DNB Bank ASA (OTCMKTS:DNBBY) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $34.6899 and last traded at $34.64, with a volume of 666 shares trading hands. The stock had previously closed at $34.45.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Citigroup restated a “neutral” rating on shares of DNB Bank ASA in a research note on Wednesday, July 8th. Morgan Stanley reaffirmed an “underweight” rating on shares of DNB Bank ASA in a research note on Wednesday, June 24th. The Goldman Sachs Group cut shares of DNB Bank ASA from a “hold” rating to a “sell” rating in a report on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of DNB Bank ASA in a research report on Thursday, July 30th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

DNB Bank ASA Stock Up 0.6%

The stock has a market cap of $53.70 billion, a P/E ratio of 12.37, a PEG ratio of 9.59 and a beta of 0.65. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 3.51. The business has a 50-day simple moving average of $32.01 and a 200-day simple moving average of $31.25.

DNB Bank ASA (OTCMKTS:DNBBY) last released its quarterly earnings results on Tuesday, July 14th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. DNB Bank ASA had a net margin of 21.34% and a return on equity of 13.97%. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.28 billion. Analysts expect that DNB Bank ASA will post 2.92 EPS for the current year.

DNB Bank ASA Company Profile

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.