Erste Group Bank (OTCMKTS:EBKDY) Shares Cross Above Fifty Day Moving Average - Time to Sell?

Key Points

• Shares of Erste Group Bank crossed above their 50-day moving average of $44.66, trading as high as $51.38 before closing at $50.98, indicating positive momentum in the stock price.
• The bank reported earnings of $1.20 per share for the last quarter, beating the consensus estimate by $0.15, with revenues of $3.26 billion surpassing expectations as well.
• Investment analysts have given Erste Group Bank ratings ranging from "hold" to "strong buy," with a consensus rating of "Moderate Buy."

Erste Group Bank AG (OTCMKTS:EBKDY - Get Free Report) shares passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $44.66 and traded as high as $51.38. Erste Group Bank shares last traded at $50.98, with a volume of 164,669 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EBKDY. Cfra Research upgraded shares of Erste Group Bank to a "hold" rating in a research note on Tuesday, August 5th. Morgan Stanley reissued an "overweight" rating on shares of Erste Group Bank in a report on Tuesday, August 5th. Zacks Research raised shares of Erste Group Bank to a "hold" rating in a report on Monday, August 11th. UBS Group raised shares of Erste Group Bank from a "hold" rating to a "strong-buy" rating in a report on Monday, May 26th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Erste Group Bank in a report on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

Erste Group Bank Trading Up 1.4%

The stock has a market cap of $40.91 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 0.96 and a beta of 1.14. The stock's 50-day moving average price is $45.19 and its 200-day moving average price is $39.54.

Erste Group Bank (OTCMKTS:EBKDY - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. As a group, analysts predict 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.