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

Key Points

• Erste Group Bank's stock price surpassed its 50-day moving average of $46.63, trading as high as $48.94 during Monday's session.
• Multiple analysts have recently issued ratings for Erste Group Bank, with Zacks Research upgrading it to a hold rating and UBS Group raising it to a strong-buy rating.
• The bank reported earnings of $1.20 per share for the last quarter, exceeding expectations, with a total revenue of $3.26 billion, outperforming the consensus estimate of $3.18 billion.

Erste Group Bank AG (OTCMKTS:EBKDY - Get Free Report)'s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $46.63 and traded as high as $48.94. Erste Group Bank shares last traded at $48.77, with a volume of 36,341 shares changing hands.

Analyst Ratings Changes

Several equities analysts have weighed in on EBKDY shares. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Erste Group Bank in a research note on Monday, August 4th. Cfra Research upgraded Erste Group Bank to a "hold" rating in a research note on Tuesday, August 5th. UBS Group upgraded Erste Group Bank from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 26th. Zacks Research upgraded Erste Group Bank to a "hold" rating in a research note on Monday, August 11th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Erste Group Bank in a research note on Tuesday, September 2nd. Two investment 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 MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

Erste Group Bank Stock Performance

The firm has a market capitalization of $39.89 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 0.86 and a beta of 1.14. The company has a fifty day moving average of $47.16 and a two-hundred day moving average of $40.91.

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 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $3.18 billion. Equities analysts forecast that Erste Group Bank AG will post 4.05 EPS 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.