Erste Group Bank (OTCMKTS:EBKDY) Stock Price Passes Above 50-Day Moving Average - What's Next?

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.

Erste Group Bank AG (OTCMKTS:EBKDY - Get Free Report)'s share price crossed 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 Analyst Weigh In

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

Erste Group Bank Price Performance

The business has a fifty day simple moving average of $47.73 and a 200 day simple moving average of $41.43. The firm has a market cap of $40.02 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 0.86 and a beta of 1.14.

Erste Group Bank (OTCMKTS:EBKDY - Get Free Report) last announced its earnings results on Friday, August 1st. The financial services provider reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.15. Erste Group Bank had a return on equity of 10.08% and a net margin of 16.96%.The business had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $3.18 billion. On average, research analysts anticipate that Erste Group Bank AG will post 4.05 earnings per share for the current fiscal 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.