Erste Group Bank (OTCMKTS:EBKDY) Stock Passes Above Fifty Day Moving Average - Here's Why

Key Points

• Erste Group Bank's stock price recently crossed above its 50-day moving average, reflecting a rise to $48.97, indicating potential bullish momentum.
• Analysts have issued mixed ratings on Erste Group Bank, with a total of two Strong Buy, two Buy, four Hold ratings, suggesting an average rating of "Moderate Buy."
• The company reported $1.20 earnings per share in its latest quarterly results, exceeding the consensus estimate by $0.15 with revenues of $3.26 billion.

Erste Group Bank AG (OTCMKTS:EBKDY - Get Free Report)'s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $48.06 and traded as high as $49.15. Erste Group Bank shares last traded at $48.97, with a volume of 26,947 shares traded.

Analysts Set New Price Targets

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

Erste Group Bank Stock Performance

The company has a market cap of $40.21 billion, a P/E ratio of 12.09, a P/E/G ratio of 0.87 and a beta of 1.14. The firm has a 50 day moving average price of $48.06 and a two-hundred day moving average price of $41.65.

Erste Group Bank (OTCMKTS:EBKDY - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.18 billion. Erste Group Bank had a return on equity of 10.08% and a net margin of 16.96%. On average, sell-side analysts predict that Erste Group Bank AG will post 4.05 EPS for the current fiscal 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.

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