Erste Group Bank AG (OTCMKTS:EBKDY) Sees Large Decline in Short Interest

Key Points

• Short interest in Erste Group Bank fell 37.2% to 9,434 shares as of August 31, representing 0.0% of shares outstanding and just 0.1 days to cover.
• The stock opened at $68.53 and was trading down 1.3%, with a market capitalization of $53.23 billion and a 52-week range of $47.02 to $73.10.
• Erste Group exceeded quarterly expectations, reporting $1.44 in EPS and $4.62 billion in revenue, while analysts maintained an overall “Buy” rating.

Erste Group Bank AG (OTCMKTS:EBKDY - Get Free Report) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 9,434 shares, a decline of 37.2% from the August 15th total of 15,025 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 63,555 shares, the days-to-cover ratio is currently 0.1 days.

Erste Group Bank Trading Down 1.3%

OTCMKTS:EBKDY opened at $68.53 on Wednesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $53.23 billion, a P/E ratio of 13.13, a P/E/G ratio of 0.68 and a beta of 0.85. The stock's 50 day moving average price is $68.71 and its 200 day moving average price is $62.35. Erste Group Bank has a 52 week low of $47.02 and a 52 week high of $73.10.

Erste Group Bank (OTCMKTS:EBKDY - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.43 by $0.01. Erste Group Bank had a net margin of 18.39% and a return on equity of 10.22%. The company had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.48 billion. On average, research analysts forecast that Erste Group Bank will post 5.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Oddo Bhf raised Erste Group Bank from a "neutral" rating to an "outperform" rating in a research note on Thursday, August 6th. The Goldman Sachs Group raised shares of Erste Group Bank to a "strong-buy" rating in a research note on Wednesday, July 8th. Morgan Stanley reiterated an "overweight" rating on shares of Erste Group Bank in a report on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Erste Group Bank in a research note on Monday, July 20th. Finally, Zacks Research upgraded Erste Group Bank from a "strong sell" rating to a "hold" rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy".

Erste Group Bank Company Profile

Erste Group Bank AG is an Austrian financial services company headquartered in Vienna. Founded in 1819 as Erste österreichische Spar-Casse, the group has developed into one of Central and Eastern Europe's major banking organizations. Its ordinary shares are listed on the Vienna Stock Exchange, while its American depositary receipts trade over the counter in the United States under the symbol EBKDY.

The company provides retail and commercial banking services, including current and savings accounts, consumer and mortgage lending, payment services, investment products, and insurance-related offerings.

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