Update shared on04 Sep 2025
Analysts remain cautious on DNB Bank due to ongoing macroeconomic uncertainties and moderated interest rate expectations, balancing slightly improved capital and fee income outlooks, resulting in an unchanged consensus price target at NOK269.57.
Analyst Commentary
- Mixed adjustments reflect shifting sentiment after recent earnings, with some analysts citing modestly improved outlooks while others remain cautious on sector fundamentals.
- Bearish analysts note ongoing macroeconomic uncertainties and their potential to negatively impact loan growth and credit quality.
- Expectations for a moderated interest rate environment are driving cautious revisions to net interest income forecasts.
- Stable or slightly improved capital positions and resilient fee income are highlighted by bullish analysts as support for a higher target price.
- Consensus remains that while valuation is not stretched, there are near-term headwinds tied to economic growth and regulatory landscape.
What's in the News
- Rasmus Figenschou appointed as new CFO of DNB Bank, succeeding Ida Lerner, with transition set for October.
- DNB ASA commences a share buyback program authorized to repurchase up to 22,542,653 shares (3.5% of share capital) for cancellation, effective until the next AGM.
Valuation Changes
Summary of Valuation Changes for DNB Bank
- The Consensus Analyst Price Target remained effectively unchanged, at NOK269.57.
- The Future P/E for DNB Bank remained effectively unchanged, moving only marginally from 13.56x to 13.65x.
- The Consensus Revenue Growth forecasts for DNB Bank remained effectively unchanged, at 1.7% per annum.
Disclaimer
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