Swedbank (OTCMKTS:SWDBY) Hits New 1-Year High – Here’s What Happened

Swedbank AB (OTCMKTS:SWDBY) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as SEK 40.47 and last traded at SEK 40.37, with a volume of 5604 shares. The stock had previously closed at SEK 40.15.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SWDBY. The Goldman Sachs Group lowered Swedbank from a “hold” rating to a “sell” rating in a research report on Thursday, December 4th. Citigroup restated a “neutral” rating on shares of Swedbank in a research report on Tuesday, January 20th. Barclays reiterated an “underweight” rating on shares of Swedbank in a research report on Wednesday, December 10th. Morgan Stanley restated an “underweight” rating on shares of Swedbank in a research report on Monday, November 24th. Finally, Zacks Research lowered shares of Swedbank from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Four equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Swedbank Price Performance

The company has a debt-to-equity ratio of 3.83, a quick ratio of 1.50 and a current ratio of 1.50. The company’s 50 day moving average price is SEK 35.79 and its 200-day moving average price is SEK 31.66. The company has a market cap of $44.60 billion, a price-to-earnings ratio of 13.39 and a beta of 0.67.

Swedbank (OTCMKTS:SWDBY) last issued its earnings results on Thursday, January 29th. The financial services provider reported SEK 0.77 earnings per share for the quarter, topping analysts’ consensus estimates of SEK 0.67 by SEK 0.10. The firm had revenue of SEK 1.84 billion during the quarter, compared to analysts’ expectations of SEK 1.79 billion. Swedbank had a net margin of 30.27% and a return on equity of 15.87%. On average, equities research analysts forecast that Swedbank AB will post 2.34 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.