Nordea Bank has had a positive share price development after the report on October 17, which showed a better result than expected. The deviation from ebit expectations was 3.7 percent. Revenues also came in slightly higher than expected in Q3, while the important net interest income was in line with expectations.

The share, which rose 6.2 percent in Stockholm on the day of the report, is currently up 5.1 percent after the report release, while the OMXS30 index has fallen 0.8 percent.

According to Factset, the analyst community has raised the forecast for this year's revenue by 0.3 percent and adjusted the forecast for next year down by 0.4 percent.

The consensus for net interest income for the year has been lowered by 0.1% and is down by 0.9% for next year.

The estimate for loan losses for this year has been cut by 14.3% and lowered by 11.5% for next year.

The operating profit forecast for this year has been raised by 0.3% and lowered by 1.5% for next year.

The average recommendation on the share remains overweight. The average target price has been raised 0.5 percent to SEK 149.39, from SEK 148.64.

The proportion of positive recommendations is now 65 percent (64), while the proportion of 'hold' is 31 percent (32) and the proportion of negative recommendations is 4 percent (4).

Nordea
Share price development on reporting date 6,2%
Date of report 2024-10-22 2024-10-16 Difference
Share price, SEK 124,55 118,45 5,1%
Average target price, SEK 149,39 148,64 0,5%
Difference target price vs current share price 19,95% 25,48%
Consensus recommendationOverweightOverweight
Share of positive recommendations 65% 64%
Share of keep recommendations 31% 32%
Share of negative recommendations 4% 4%
Revenue, current year (EUR m) 12 119 12 081 0,3%
Revenue, next year (EUR m) 11 914 11 963 -0,4%
Growth in revenue, next year-1,7%-1,0%
Net interest income, current year (EUR m) 7 601 7 611 -0,1%
Net interest income, next year (EUR m) 7 296 7 361 -0,9%
Growth in net interest income, next year-4,0%-3,3%
Loan losses, current year (EUR m) 233 272 -14,3%
Loan losses, next year (EUR m) 291 329 -11,5%
Growth in loan losses, next year 24,7% 20,7%
Operating profit, current year (EUR m) 6 585 6 567 0,3%
Operating result, next year (EUR m) 6 235 6 329 -1,5%
Growth in operating profit, next year-5,3%-3,6%
Source: Factset