Erste Group Bank (OTCMKTS:EBKDY) Hits New 52-Week High - What's Next?

Erste Group Bank AG (OTCMKTS:EBKDY - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $42.47 and last traded at $41.78, with a volume of 186334 shares. The stock had previously closed at $40.81.

Wall Street Analyst Weigh In

EBKDY has been the subject of several analyst reports. Citigroup downgraded Erste Group Bank from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 10th. Morgan Stanley reiterated an "overweight" rating on shares of Erste Group Bank in a research report on Tuesday, May 13th. Finally, UBS Group upgraded Erste Group Bank from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 26th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Erste Group Bank presently has an average rating of "Buy".

Erste Group Bank Stock Performance

The stock has a 50-day moving average price of $37.80 and a 200-day moving average price of $34.43. The stock has a market cap of $34.30 billion, a P/E ratio of 10.34, a P/E/G ratio of 1.08 and a beta of 1.10.

Erste Group Bank (OTCMKTS:EBKDY - Get Free Report) last released its earnings results on Wednesday, April 30th. The financial services provider reported $0.96 earnings per share 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 the consensus estimate of $3.21 billion. Erste Group Bank had a return on equity of 10.95% and a net margin of 15.21%. Sell-side analysts forecast that Erste Group Bank AG will post 4.05 earnings per share for the current fiscal year.

Erste Group Bank Cuts Dividend

The business also recently disclosed a dividend, which was paid on Monday, June 9th. Shareholders of record on Wednesday, May 28th were given a $1.1657 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a yield of 2.89%. Erste Group Bank's payout ratio is currently 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.

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