Erste Group Bank (OTCMKTS:EBKDY) Cut to "Strong Sell" at Zacks Research

Key Points

• Zacks Research downgraded Erste Group Bank from “hold” to “strong sell,” despite a broader analyst consensus of “Moderate Buy.” Citigroup, Goldman Sachs, Deutsche Bank and Morgan Stanley maintain positive ratings.
• Shares rose 2.0% to open at $66.07, near the company’s 52-week high of $68.28. Erste Group has a market capitalization of approximately $51.32 billion and a P/E ratio of 13.27.
• Recent quarterly results slightly exceeded expectations, with earnings of $1.44 per share versus estimates of $1.43 and revenue of $4.62 billion versus $4.48 billion expected.

Erste Group Bank (OTCMKTS:EBKDY - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other equities research analysts have also issued reports on EBKDY. Citigroup reissued a "buy" rating on shares of Erste Group Bank in a research report on Wednesday. The Goldman Sachs Group raised shares of Erste Group Bank to a "strong-buy" rating in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Erste Group Bank in a research note on Monday, July 20th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Erste Group Bank in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

Erste Group Bank Stock Up 2.0%

Shares of Erste Group Bank stock opened at $66.07 on Wednesday. The business has a 50-day moving average price of $63.72 and a 200 day moving average price of $60.63. Erste Group Bank has a fifty-two week low of $45.19 and a fifty-two week high of $68.28. The firm has a market cap of $51.32 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.65 and a beta of 0.84.

Erste Group Bank (OTCMKTS:EBKDY - Get Free Report) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.01. The company had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.48 billion. Erste Group Bank had a return on equity of 10.96% and a net margin of 19.27%. As a group, equities research analysts anticipate that Erste Group Bank will post 5.84 earnings per share for the current year.

About Erste Group Bank

Erste Group Bank AG is an Austrian banking group headquartered in Vienna that operates as a universal bank serving retail, corporate and institutional customers. The group offers a broad range of financial services including deposit-taking, lending, mortgage financing, payment and transaction banking, and wealth management. Erste Group also provides capital markets services, corporate and investment banking solutions, and a range of insurance and pension-linked products through partnerships and subsidiary operations.

Erste Group maintains a significant regional presence beyond Austria, with operations across several Central and Eastern European countries.

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