Swedbank stock trades 2.4 percent below its yearly high

Swedbank stock stood at SEK 406.10 on Nasdaq Stockholm on September 24, 2026, down 0.64 percent in trading and 2.4 percent below its 52-week high of SEK 416.10. The latest operating data show a bank with a 15.5 percent adjusted return on equity in Q2 2026, according to Swedbank.

Q2 figures support profitability

Swedbank released its January to June 2026 interim report on July 17, 2026. The Q2 key figures included a 0.39 cost-to-income ratio and a 17.4 percent Common Equity Tier 1 capital ratio, both of which frame the bank's earnings quality and balance-sheet resilience.

The credit impairment ratio was 0.06 percent in Q2 2026, according to the same Swedbank investor-relations update. For investors, the combination of a 15.5 percent adjusted return on equity and a 0.39 cost-to-income ratio matters because it links profitability with operating efficiency rather than relying on a single earnings number.

Deutsche Bank raises target

Deutsche Bank raised its Swedbank target price from SEK 388 to SEK 419 on September 16, 2026, and reiterated a Buy rating, according to MarketScreener. The new target is 3.2 percent above the September 24 price, leaving a modest gap between the market quotation and the bank's published valuation.

Broader analyst data point to a more divided view. Investing.com lists 16 analysts, an average 12-month target of SEK 382.69 and a Neutral consensus as of September 24, 2026. That average sits below the current price, contrasting with Deutsche Bank's higher target of SEK 419.

Stock remains near yearly high

Swedbank's market capitalization was SEK 456,342,269,611 on September 24, 2026. The share's 52-week range was SEK 274.40 to SEK 416.10, so the current price is materially closer to the annual high than to the low.

The reference price was SEK 406.10 on Nasdaq Stockholm on September 24, 2026, at 4:57 p.m. CEST. The daily change was minus 0.64 percent, a mild pullback that leaves the stock close to its yearly peak while analyst targets remain split.