Swedbank AB (publ) (OTCMKTS:SWDBY) Shares Cross Below 50-Day Moving Average – Here’s Why

Swedbank AB (publ) (OTCMKTS:SWDBY) shares crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of SEK 20.80 and traded as low as SEK 19.62. Swedbank AB (publ) shares last traded at SEK 19.62, with a volume of 34,500 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised shares of Swedbank AB (publ) to a “hold” rating in a report on Friday, September 27th.

Swedbank AB (publ) Price Performance

The firm’s fifty day simple moving average is SEK 20.80 and its 200 day simple moving average is SEK 20.47. The firm has a market cap of $22.33 billion, a P/E ratio of 6.73, a P/E/G ratio of 0.70 and a beta of 0.93. The company has a debt-to-equity ratio of 4.52, a quick ratio of 1.53 and a current ratio of 1.53.

Swedbank AB (publ) (OTCMKTS:SWDBY) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported SEK 0.71 earnings per share for the quarter, topping analysts’ consensus estimates of SEK 0.67 by SEK 0.04. The business had revenue of SEK 1.71 billion for the quarter, compared to analyst estimates of SEK 1.68 billion. Swedbank AB (publ) had a return on equity of 17.66% and a net margin of 25.41%. As a group, analysts forecast that Swedbank AB will post 2.57 earnings per share for the current year.

Swedbank AB (publ) Company Profile

Swedbank AB (publ) provides various banking products and services to private and corporate customers in Sweden, Estonia, Latvia, Lithuania, Norway, the United States, Finland, Denmark, Luxembourg, and China. The company operates through three business areas: Swedish Banking, Baltic Banking, and Corporates and Institutions.