Just caught something interesting about Nordea Bank (NBNKF) - analysts are getting more bullish on it. They bumped up the average price target to $22.13, which is a solid 20% jump from where it was sitting back in late October. Current price is hovering around $12.11, so there's a pretty wide gap between where it's trading now and where analysts think it could go.

What caught my eye is the fund activity though. There are about 245 funds and institutions holding this stock, but interestingly that number actually dropped by about 92 positions in the last quarter. That said, the ones who are in it seem to be adjusting their positions. Vanguard's Total International Stock Index Fund is the biggest holder with 47,630K shares - that's 1.40% of the company. They actually added a tiny bit more (up 0.79% from their last filing), though they slightly trimmed their overall allocation by 1.27%.

Other big players like Vanguard's Developed Markets fund (29,603K shares) and iShares' EAFE ETF (20,425K shares) both increased their allocations over the quarter. Even the value-focused EFV ETF made a notable move, jumping their position by over 19% to 8,842K shares. The total institutional ownership did shrink about 16% though, down to 255 million shares. Interesting to see some funds stepping back while others are clearly adding to their bets here.