Erste Group Bank (OTCMKTS:EBKDY) Sets New 52-Week High - Time to Buy?

Key Points

• Erste Group Bank reached a new 52-week high at $48.25 during mid-day trading, with a trading volume of 2067 shares.
• Recent analyst ratings have been positive, with UBS upgrading the stock to strong-buy and a consensus rating of Buy among six analysts.
• The bank reported better-than-expected quarterly earnings with $1.20 EPS, surpassing the analysts' consensus estimate of $1.05, alongside revenues of $3.26 billion.

Erste Group Bank AG (OTCMKTS:EBKDY - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $48.25 and last traded at $48.25, with a volume of 2067 shares changing hands. The stock had previously closed at $47.50.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. UBS Group raised shares of Erste Group Bank from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 26th. Morgan Stanley reaffirmed an "overweight" rating on shares of Erste Group Bank in a research note on Tuesday, August 5th. Cfra Research raised shares of Erste Group Bank to a "hold" rating in a research note on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Erste Group Bank in a research note on Monday, August 4th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy".

Erste Group Bank Stock Performance

The firm has a market cap of $41.04 billion, a PE ratio of 12.34, a PEG ratio of 0.98 and a beta of 1.14. The firm's 50 day moving average price is $43.32 and its two-hundred day moving average price is $38.23.

Erste Group Bank (OTCMKTS:EBKDY - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $3.18 billion. Erste Group Bank had a net margin of 16.96% and a return on equity of 10.42%. On average, analysts forecast that Erste Group Bank AG will post 4.05 earnings per share for the current year.

Erste Group Bank Cuts Dividend

The company also recently disclosed a dividend, which was paid on Monday, June 9th. Stockholders of record on Wednesday, May 28th were issued a $1.1657 dividend. This represents a dividend yield of 289.0%. The ex-dividend date was Tuesday, May 27th. Erste Group Bank's dividend payout ratio (DPR) is presently 28.89%.

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.