DNB Bank ASA (OTCMKTS:DNBBY) Sees Large Increase in Short Interest

DNB Bank ASA (OTCMKTS:DNBBY) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 80,600 shares, an increase of 1,544.9% from the August 15th total of 4,900 shares. Based on an average daily volume of 295,200 shares, the short-interest ratio is presently 0.3 days.

DNBBY stock opened at $21.70 on Wednesday. DNB Bank ASA has a one year low of $18.78 and a one year high of $24.00. The firm has a market cap of $33.64 billion, a PE ratio of 13.23 and a beta of 1.53. The company has a debt-to-equity ratio of 3.20, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a fifty day moving average price of $21.01.

DNB Bank ASA (OTCMKTS:DNBBY) last released its earnings results on Tuesday, July 13th. The company reported $0.48 EPS for the quarter. DNB Bank ASA had a net margin of 35.45% and a return on equity of 9.20%. The company had revenue of $1.62 billion during the quarter. Equities research analysts forecast that DNB Bank ASA will post 1.67 earnings per share for the current year.

DNBBY has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of DNB Bank ASA from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Tuesday. SEB Equities upgraded shares of DNB Bank ASA from a “hold” rating to a “buy” rating and set a 224.00 price target for the company in a research note on Wednesday, September 8th.

About DNB Bank ASA

DNB Bank ASA provides financial services for retail and corporate customers in Norway. The company's personal banking products and services include savings and investment products; loans, such as home mortgages, and car and consumer loans; car, boat, motor vehicle, household contents, home, holiday home, travel, and life insurance products, as well as pet insurance products for cats and dogs; retirement savings products; foreign exchange and treasury; and Internet and mobile banking services, as well as cards.

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