Nordea Bank (OTCMKTS:NRDBY) Sees Unusually-High Trading Volume Following Strong Earnings

Shares of Nordea Bank AB (OTCMKTS:NRDBY) saw unusually-high trading volume on Thursday following a stronger than expected earnings report. Approximately 3,783,462 shares were traded during trading, an increase of 1,010% from the previous session’s volume of 340,999 shares.The stock last traded at $19.4520 and had previously closed at $20.03.

The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.03. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.42 billion. Nordea Bank had a return on equity of 15.89% and a net margin of 22.36%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group cut Nordea Bank from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 4th. Nordea Equity Research downgraded shares of Nordea Bank from a “buy” rating to a “neutral” rating in a research report on Thursday, December 4th. Barclays restated an “underweight” rating on shares of Nordea Bank in a research report on Wednesday, December 10th. Kepler Capital Markets upgraded shares of Nordea Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Finally, Morgan Stanley restated an “overweight” rating on shares of Nordea Bank in a report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Nordea Bank presently has a consensus rating of “Hold”.

Nordea Bank Trading Down 0.7%

The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 6.32. The company has a 50-day moving average price of $18.81 and a 200-day moving average price of $17.01. The company has a market capitalization of $66.38 billion, a price-to-earnings ratio of 12.23, a P/E/G ratio of 3.48 and a beta of 0.63.

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.