Erste Group Bank (OTCMKTS:EBKDY) Stock Price Crosses Above 50 Day Moving Average - Time to Sell?

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 stock price passed above its fifty day moving average during trading on Monday . The stock has a fifty 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.

Analysts Set New Price Targets

EBKDY has been the subject of several research reports. Morgan Stanley restated an "overweight" rating on shares of Erste Group Bank in a research report on Tuesday, September 2nd. Zacks Research upgraded shares of Erste Group Bank to a "hold" rating in a research report on Monday, August 11th. Cfra Research upgraded shares of Erste Group Bank to a "hold" rating in a research report on Tuesday, August 5th. UBS Group upgraded shares of Erste Group Bank from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 26th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Erste Group Bank in a research report on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

Erste Group Bank Stock Down 0.3%

The business's 50 day moving average is $47.16 and its 200-day moving average is $40.98. The firm has a market capitalization of $39.89 billion, a P/E ratio of 12.00, a PEG ratio of 0.86 and a beta of 1.14.

Erste Group Bank (OTCMKTS:EBKDY - Get Free Report) last posted its earnings results on Friday, August 1st. The financial services provider reported $1.20 earnings per share 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 analysts' expectations of $3.18 billion. Erste Group Bank had a net margin of 16.96% and a return on equity of 10.08%. Research analysts forecast that Erste Group Bank AG will post 4.05 EPS 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.