Erste Group Bank (OTCMKTS:EBKDY) Posts Earnings Results, Beats Expectations By $0.15 EPS

Key Points

• Erste Group Bank reported quarterly earnings of $1.20 EPS, exceeding estimates by $0.15 and generating revenues of $3.26 billion.
• The bank's dividend payout ratio stands at 30.31%, with a recent dividend yielding 289.0% for shareholders.
• Analysts have a consensus rating of "Buy" for Erste Group Bank, with recent upgrades from UBS Group and Morgan Stanley indicating positive growth outlook.

Erste Group Bank (OTCMKTS:EBKDY - Get Free Report) released its quarterly earnings results on Friday. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.15, Zacks reports. Erste Group Bank had a net margin of 16.96% and a return on equity of 10.42%. The firm had revenue of $3.26 billion for the quarter, compared to analysts' expectations of $3.18 billion.

Erste Group Bank Trading Up 2.1%

OTCMKTS EBKDY traded up $1.02 during trading hours on Wednesday, reaching $48.52. The company had a trading volume of 13,948 shares, compared to its average volume of 70,274. The stock has a market capitalization of $39.83 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 0.93 and a beta of 1.14. The stock has a 50-day moving average of $42.77 and a 200 day moving average of $37.83. Erste Group Bank has a 1-year low of $24.69 and a 1-year high of $48.64.

Erste Group Bank Cuts Dividend

The business also recently announced 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 289.0%. Erste Group Bank's dividend payout ratio is presently 28.89%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on EBKDY shares. 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. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Erste Group Bank in a research note on Monday. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Erste Group Bank in a report on Tuesday. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy".

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.