Jefferies Sticks to Its Buy Rating for Nordea Bank Abp (NBNKF)

In a report released today, Alex Demetriou from Jefferies maintained a Buy rating on Nordea Bank Abp, with a price target of €16.60. The company’s shares closed last Wednesday at $16.20.

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Demetriou covers the Financial sector, focusing on stocks such as Nordea Bank Abp, DNB ASA, and Eurobank Ergasias. According to TipRanks, Demetriou has an average return of 42.0% and an 80.95% success rate on recommended stocks.

In addition to Jefferies, Nordea Bank Abp also received a Buy from Citi’s Shrey Srivastava in a report issued on October 9. However, on October 8, Kepler Capital maintained a Hold rating on Nordea Bank Abp (Other OTC: NBNKF).

Based on Nordea Bank Abp’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $5.51 billion and a net profit of $1.22 billion. In comparison, last year the company earned a revenue of $6.46 billion and had a net profit of $1.3 billion

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NBNKF in relation to earlier this year.