Erste Group Bank (OTCMKTS:EBKDY) Hits New 12-Month High - Here's What Happened

Key Points

• Erste Group Bank's stock reached a new 52-week high at $46.49 during trading, closing at $46.05 with a volume of 14,917 shares.
• Analysts have raised their ratings on the stock, with UBS upgrading it from "hold" to a "strong-buy", contributing to an average rating of "Buy" among analysts.
• The bank reported a quarterly earnings miss with an EPS of $0.96, below the consensus estimates of $1.10, despite a revenue of $3.21 billion.

Erste Group Bank AG (OTCMKTS:EBKDY - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $46.49 and last traded at $46.05, with a volume of 14917 shares traded. The stock had previously closed at $45.28.

Analyst Ratings Changes

EBKDY has been the subject of several research reports. UBS Group raised Erste Group Bank from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 26th. Morgan Stanley reiterated an "overweight" rating on shares of Erste Group Bank in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy".

Erste Group Bank Price Performance

The business's fifty day moving average price is $42.24 and its 200 day moving average price is $37.36. The company has a market cap of $37.83 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 0.89 and a beta of 1.09.

Erste Group Bank (OTCMKTS:EBKDY - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.96 EPS for the quarter, missing analysts' consensus estimates of $1.10 by ($0.14). The firm had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.21 billion. Erste Group Bank had a net margin of 16.22% and a return on equity of 10.31%. As a group, equities research analysts anticipate that Erste Group Bank AG will post 4.05 EPS for the current year.

Erste Group Bank Cuts Dividend

The company also recently declared a dividend, which was paid on Monday, June 9th. Stockholders of record on Wednesday, May 28th were paid a dividend of $1.1657 per share. The ex-dividend date was Tuesday, May 27th. This represents a dividend yield of 289.0%. Erste Group Bank's dividend payout ratio is presently 30.31%.

About Erste Group Bank

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.