Nordea Bank Abp (OTCMKTS:NRDBY) Upgraded to Equal Weight by Morgan Stanley

Nordea Bank Abp (OTCMKTS:NRDBY) was upgraded by equities research analysts at Morgan Stanley to an “equal weight” rating in a research report issued on Thursday, The Fly reports. The brokerage currently has a SEK 108 price objective on the stock, up from their prior price objective of SEK 103.

A number of other research firms also recently weighed in on NRDBY. JPMorgan Chase & Co. raised Nordea Bank Abp to an “overweight” rating in a research note on Wednesday, June 23rd. AlphaValue raised Nordea Bank Abp to a “reduce” rating in a research note on Monday, June 14th. Keefe, Bruyette & Woods raised Nordea Bank Abp from a “market perform” rating to an “outperform” rating in a research note on Friday, May 21st. Deutsche Bank Aktiengesellschaft raised Nordea Bank Abp to a “buy” rating and raised their price objective for the company from €10.20 ($12.00) to €11.20 ($13.18) in a research note on Wednesday, July 7th. Finally, Pareto Securities began coverage on Nordea Bank Abp in a research note on Thursday, June 24th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Nordea Bank Abp currently has a consensus rating of “Buy” and a consensus price target of $50.02.

Shares of NRDBY traded up $0.49 during midday trading on Thursday, reaching $11.49. 62,032 shares of the stock were exchanged, compared to its average volume of 239,175. Nordea Bank Abp has a 12-month low of $7.16 and a 12-month high of $11.57. The business has a 50 day simple moving average of $11.04. The company has a debt-to-equity ratio of 5.49, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market cap of $46.53 billion, a P/E ratio of 15.12 and a beta of 1.22.

Nordea Bank Abp (OTCMKTS:NRDBY) last posted its quarterly earnings results on Thursday, April 29th. The company reported $0.23 earnings per share for the quarter. Nordea Bank Abp had a return on equity of 7.91% and a net margin of 26.77%. The company had revenue of $2.49 billion during the quarter.

Nordea Bank Abp Company Profile

Nordea Bank Abp provides various banking products and services in Sweden, Finland, Norway, Denmark, and internationally. The company operates through Personal Banking, Business Banking, Large Corporates and Institutions, and Asset and Wealth Management segments. The Personal Banking segment offers various financial services to household customers through internet and mobile banking, over the phone, online meetings, and branch offices.

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