Erste Group Bank (OTCMKTS:EBKDY) Stock Price Crosses Above 50 Day Moving Average - Here's What Happened

Key Points

• Shares of Erste Group Bank crossed above its 50-day moving average on Monday, trading as high as $63.05 versus a 50-day MA of $57.74 and last at $62.53 on volume of 66,016 shares.
• Analysts give a consensus rating of “Moderate Buy” (2 Strong Buy, 3 Buy, 3 Hold), with recent notes including a Zacks downgrade to Hold, Citigroup raising to Strong Buy, and Deutsche Bank reaffirming Buy.
• Key fundamentals: market capitalization of $48.57 billion, P/E of 13.36, PEG of 0.65, beta 0.89, and a 200-day moving average of $56.72.

Shares of Erste Group Bank AG (OTCMKTS:EBKDY - Get Free Report) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $57.74 and traded as high as $63.05. Erste Group Bank shares last traded at $62.53, with a volume of 66,016 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Zacks Research lowered shares of Erste Group Bank from a "strong-buy" rating to a "hold" rating in a report on Monday, April 6th. Citigroup raised shares of Erste Group Bank to a "strong-buy" rating in a report on Wednesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Erste Group Bank in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy".

Erste Group Bank Stock Performance

The firm has a market capitalization of $48.57 billion, a P/E ratio of 13.36, a PEG ratio of 0.65 and a beta of 0.89. The firm's 50-day moving average is $57.74 and its 200 day moving average is $56.72.

About Erste Group Bank

Erste Group Bank AG is an Austrian banking group headquartered in Vienna that operates as a universal bank serving retail, corporate and institutional customers. The group offers a broad range of financial services including deposit-taking, lending, mortgage financing, payment and transaction banking, and wealth management. Erste Group also provides capital markets services, corporate and investment banking solutions, and a range of insurance and pension-linked products through partnerships and subsidiary operations.

Erste Group maintains a significant regional presence beyond Austria, with operations across several Central and Eastern European countries.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.