Erste Group Bank (OTCMKTS:EBKDY) Upgraded to "Strong-Buy" at The Goldman Sachs Group

Key Points

• Goldman Sachs upgraded Erste Group Bank to a “strong-buy” rating, adding to generally positive analyst sentiment on the stock.
• The shares were up 2.7% and opened at $67.13, near their 52-week high of $68.28.
• Erste Group Bank’s latest earnings missed EPS estimates at $1.26 vs. $1.31 expected, though revenue of $4.60 billion came in above forecasts.

Erste Group Bank (OTCMKTS:EBKDY - Get Free Report) was upgraded by equities researchers at The Goldman Sachs Group to a "strong-buy" rating in a report issued on Wednesday,Zacks.com reports.

Several other equities analysts have also commented on EBKDY. Zacks Research lowered shares of Erste Group Bank from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Erste Group Bank in a report on Friday, April 17th. Finally, Morgan Stanley restated an "overweight" rating on shares of Erste Group Bank in a report on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy".

Erste Group Bank Trading Up 2.7%

Shares of OTCMKTS:EBKDY opened at $67.13 on Wednesday. The firm has a market cap of $52.14 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 0.65 and a beta of 0.84. The stock's 50-day moving average price is $61.14 and its two-hundred day moving average price is $60.06. Erste Group Bank has a 12-month low of $42.66 and a 12-month high of $68.28.

Erste Group Bank (OTCMKTS:EBKDY - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $1.26 EPS for the quarter, missing analysts' consensus estimates of $1.31 by ($0.05). The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. Erste Group Bank had a net margin of 19.27% and a return on equity of 10.96%. As a group, research analysts forecast that Erste Group Bank will post 5.85 earnings per share for the current fiscal year.

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.

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