Nordea Bank (OTCMKTS:NRDBY) Sees Strong Trading Volume – Time to Buy?

Shares of Nordea Bank AB (OTCMKTS:NRDBY) saw strong trading volume on Friday . 1,349,635 shares traded hands during mid-day trading, an increase of 117% from the previous session’s volume of 622,100 shares.The stock last traded at $19.15 and had previously closed at $19.26.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NRDBY. Citigroup reiterated a “buy” rating on shares of Nordea Bank in a research note on Thursday, April 23rd. Morgan Stanley reissued an “overweight” rating on shares of Nordea Bank in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold”.

Nordea Bank Stock Performance

The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 6.78. The firm has a market capitalization of $65.40 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 1.92 and a beta of 0.63. The business has a 50-day moving average price of $18.81 and a 200-day moving average price of $18.87.

Nordea Bank (OTCMKTS:NRDBY) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.37 billion. Nordea Bank had a net margin of 22.65% and a return on equity of 15.24%. As a group, sell-side analysts forecast that Nordea Bank AB will post 1.65 earnings per share for the current year.

About Nordea Bank

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.