Erste Group Bank (OTCMKTS:EBKDY) Shares Cross Above 50 Day Moving Average - Here's Why

Key Points

• Erste Group Bank's stock price has surpassed its 50-day moving average of $48.65, reaching a high of $50.91 during trading.
• The bank's market capitalization is approximately $41.60 billion with a PE ratio of 12.51, indicating a relatively appealing valuation in the financial sector.
• Recent analyst ratings show a consensus rating of Moderate Buy, with upgrades from analysts at Cfra Research and Zacks Research to a "hold" rating.

Erste Group Bank AG (OTCMKTS:EBKDY - Get Free Report)'s stock price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $48.65 and traded as high as $50.91. Erste Group Bank shares last traded at $50.67, with a volume of 21,267 shares trading hands.

Analyst Ratings Changes

A number of research analysts have issued reports on EBKDY shares. Cfra Research upgraded shares of Erste Group Bank to a "hold" rating in a report on Tuesday, August 5th. Zacks Research upgraded shares of Erste Group Bank to a "hold" rating in a report on Monday, August 11th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Erste Group Bank in a report on Monday, August 4th. Finally, Morgan Stanley restated an "overweight" rating on shares of Erste Group Bank in a report on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy".

Erste Group Bank Stock Performance

The firm has a market capitalization of $41.60 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 0.89 and a beta of 1.09. The company's fifty day moving average price is $48.65 and its two-hundred day moving average price is $42.22.

Erste Group Bank (OTCMKTS:EBKDY - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.15. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.18 billion. Erste Group Bank had a net margin of 16.96% and a return on equity of 10.08%. On average, equities analysts expect that Erste Group Bank AG will post 4.05 earnings per share for the current year.

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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