DNB Bank ASA (OTCMKTS: DNBBY) upgrade to buy by Zacks Investment Research

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DNB Bank ASA (OTCMKTS: DNBBY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note released to investors Friday, Zacks.com reports. The company currently has a target price of $ 27.00 on the share. Zacks Investment Research’s price target points to a potential rise of 14.89% from the company’s previous close.

According to Zacks, “DNB ASA is a commercial bank that provides banking products and services to individuals and businesses, primarily in Norway and abroad. The company offers savings and investment products, loans, investment banking advice, financing services, insurance products, foreign exchange, cash management, payments and services. pension as well as cards, consulting and real estate brokerage services. DNB ASA is headquartered in Oslo, Norway. “

Other analysts have also recently published research reports on the stock. Barclays raised its target price on DNB Bank ASA shares from 167.00 to 179.00 and assigned the stock an “underweight” rating in a research report published on Monday, November 1. JPMorgan Chase & Co. raised its target price on DNB Bank ASA shares from 195.00 to 205.00 and rated the stock “neutral” in a research report published on Wednesday, October 27. SEB Equities upgraded DNB Bank ASA shares from a “hold” rating to a “buy” rating and set a price target of 224.00 for the company in a research report published on Wednesday, September 8. Credit Suisse Group raised its target price for DNB Bank ASA shares from 190.00 to 200.00 and assigned the company a “neutral” rating in a report published on Friday 22 October. Finally, Morgan Stanley raised its target price on DNB Bank ASA shares from 180.00 to 187.00 and gave the company an “equal weight” rating in a report released on Monday, October 18. One investment analyst rated the stock with a sell rating, four issued a conservation rating, and three assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $ 175.43.

DNB Bank ASA stock traded down $ 0.53 in Friday’s session, reaching $ 23.50. The stock had a trade volume of 63,208 shares, compared to its average volume of 93,092. DNB Bank ASA has a 52-week low of $ 18.78 and a 52-week high of $ 25.91. The company has a 50-day moving average of $ 23.67. The company has a debt ratio of 3.20, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market cap of $ 36.43 billion, a PE ratio of 13.35 and a beta of 1.43.

DNB Bank ASA (OTCMKTS: DNBBY) last published its quarterly results on Thursday, October 21. The company reported earnings per share (EPS) of $ 0.49 for the quarter, beating analyst consensus estimates of $ 0.44 by $ 0.05. DNB Bank ASA had a net margin of 38.19% and a return on equity of 9.84%. The company posted revenue of $ 1.64 billion in the quarter, compared to a consensus estimate of $ 1.59 billion. As a group, sell-side analysts expect DNB Bank ASA to post 1.74 EPS for the current fiscal year.

About DNB Bank ASA

DNB Bank ASA provides financial services to individuals and businesses in Norway. The Company’s personal banking products and services include savings and investment products; loans, such as home loans, auto loans, and consumer loans; car, boat, motor vehicle, household, home, vacation home, travel and life insurance products, as well as pet insurance products for cats and dogs; retirement savings products; foreign exchange and cash; and Internet and mobile banking services, as well as cards.

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Analyst Recommendations for DNB Bank ASA (OTCMKTS: DNBBY)

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