Shares in Nordea Bank fell more than 4% on Monday as disappointment over its fourth-quarter profit overshadowed its move to raise its return on equity goals to match regional rivals. The Nordic region's biggest bank reported fourth-quarter operating profit of 1.42 billion euros ($1.53 billion) down from 1.61 billion a year earlier and below the mean forecast of 1.64 billion euros in an LSEG poll of analysts. The lack of a new share buy back programme and inflation in Nordea's risk exposure amount also weighed on the shares, JPMorgan analysts said.
Nordea Bank AB (NRDBY) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
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