Erste Group Bank AG (OTCMKTS:EBKDY) Sees Significant Decrease in Short Interest

Key Points

• Erste Group Bank AG experienced a significant drop in short interest of 69.2% in September, with short interest totaling 6,500 shares as of the end of the month.
• The company's shares traded down by 2.0%, reaching $48.02, with a market capitalization of $39.43 billion.
• Analysts have given Erste Group Bank a consensus rating of "Moderate Buy", with several upgrading their ratings recently.

Erste Group Bank AG (OTCMKTS:EBKDY - Get Free Report) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 6,500 shares, a drop of 69.2% from the September 15th total of 21,100 shares. Based on an average daily volume of 73,000 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 73,000 shares, the short-interest ratio is presently 0.1 days.

Erste Group Bank Trading Down 2.0%

Shares of OTCMKTS:EBKDY traded down $0.96 on Friday, reaching $48.02. 41,415 shares of the company's stock were exchanged, compared to its average volume of 40,175. The company has a fifty day moving average of $49.19 and a 200-day moving average of $43.22. Erste Group Bank has a twelve month low of $26.15 and a twelve month high of $51.72. The company has a market capitalization of $39.43 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 0.87 and a beta of 1.09.

Erste Group Bank (OTCMKTS:EBKDY - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.15. Erste Group Bank had a net margin of 16.96% and a return on equity of 10.08%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.18 billion. As a group, equities research analysts forecast that Erste Group Bank will post 4.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Zacks Research upgraded shares of Erste Group Bank to a "hold" rating in a report on Monday, August 11th. Cfra Research upgraded shares of Erste Group Bank to a "hold" rating in a report on Tuesday, August 5th. Morgan Stanley restated an "overweight" rating on shares of Erste Group Bank in a report on Tuesday, September 2nd. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Erste Group Bank in a report on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy".

Erste Group Bank Company Profile

Erste Group Bank AG provides a range of banking and other financial services to retail, corporate, and public sector customers. The company operates through Retail, Corporates, Group Markets, Asset/Liability Management & Local Corporate Center, Savings Banks, and Group Corporate Center segments. It provides mortgage and consumer loans, investment products, current accounts, savings products, and credit cards, as well as cross selling products, such as leasing, insurance, and building society products.

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