Erste Group Bank (OTCMKTS:EBKDY) Share Price Crosses Above Fifty Day Moving Average - Here's What Happened

Key Points

• Erste Group Bank's stock recently crossed above its 50-day moving average at $47.40, currently trading at $47.98 with a volume of 47,966 shares.
• The bank reported earnings per share of $1.20 for the last quarter, surpassing analysts' expectations of $1.05, with revenues of $3.26 billion against estimates of $3.18 billion.
• Analysts have a consensus rating of "Moderate Buy" for Erste Group Bank, with various upgrades from firms such as UBS and Morgan Stanley recently.

Shares of Erste Group Bank AG (OTCMKTS:EBKDY - Get Free Report) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $47.40 and traded as high as $48.01. Erste Group Bank shares last traded at $47.98, with a volume of 47,966 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EBKDY. Zacks Research upgraded shares of Erste Group Bank to a "hold" rating in a research report on Monday, August 11th. Morgan Stanley restated an "overweight" rating on shares of Erste Group Bank in a report on Tuesday, September 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Erste Group Bank in a research report on Monday, August 4th. Cfra Research upgraded shares of Erste Group Bank to a "hold" rating in a report on Tuesday, August 5th. Finally, UBS Group upgraded shares of Erste Group Bank from a "hold" rating to a "strong-buy" rating in a report on Monday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Erste Group Bank presently has a consensus rating of "Moderate Buy".

Erste Group Bank Stock Performance

The stock has a market capitalization of $40.02 billion, a P/E ratio of 12.03, a P/E/G ratio of 0.87 and a beta of 1.14. The company's 50-day moving average price is $47.73 and its 200 day moving average price is $41.39.

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 EPS for the quarter, beating the consensus estimate of $1.05 by $0.15. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.18 billion. Erste Group Bank had a net margin of 16.96% and a return on equity of 10.08%. Analysts predict that Erste Group Bank AG will post 4.05 earnings per share for the current year.

Erste Group Bank Company Profile

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.