Erste Group Bank AG (OTCMKTS:EBKDY) Short Interest Down 51.0% in August

Key Points

• Short interest fell 51% in August to 15,025 shares, representing 0.0% of outstanding shares and just 0.2 days to cover based on average trading volume.
• Analyst sentiment is broadly positive: Erste Group received multiple Buy or higher ratings, including upgrades from Oddo Bhf and Goldman Sachs, resulting in an overall average rating of “Buy.”
• EBKDY shares traded at $71.20, near their 52-week high of $73.10, while the bank exceeded quarterly earnings and revenue estimates with EPS of $1.44 and revenue of $4.62 billion.

Erste Group Bank AG (OTCMKTS:EBKDY - Get Free Report) saw a significant decrease in short interest in August. As of August 14th, there was short interest totaling 15,025 shares, a decrease of 51.0% from the July 30th total of 30,669 shares. Based on an average daily trading volume, of 77,679 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the company's shares are sold short.

Analyst Upgrades and Downgrades

EBKDY has been the subject of several research analyst reports. Oddo Bhf upgraded shares of Erste Group Bank from a "neutral" rating to an "outperform" rating in a research report on Thursday, August 6th. Morgan Stanley reiterated an "overweight" rating on shares of Erste Group Bank in a research report on Wednesday, July 29th. The Goldman Sachs Group upgraded Erste Group Bank to a "strong-buy" rating in a report on Wednesday, July 8th. Citigroup reiterated a "buy" rating on shares of Erste Group Bank in a report on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Erste Group Bank in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy".

Erste Group Bank Stock Performance

Shares of OTCMKTS:EBKDY traded up $0.52 during midday trading on Friday, hitting $71.20. 24,321 shares of the stock were exchanged, compared to its average volume of 46,143. Erste Group Bank has a 52-week low of $47.02 and a 52-week high of $73.10. The business's fifty day simple moving average is $67.67 and its two-hundred day simple moving average is $61.67. The company has a market capitalization of $55.30 billion, a PE ratio of 13.64, a P/E/G ratio of 0.70 and a beta of 0.85.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.01. Erste Group Bank had a return on equity of 11.32% and a net margin of 18.39%.The business had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.48 billion. As a group, equities analysts anticipate that Erste Group Bank will post 5.91 EPS for the current year.

Erste Group Bank Company Profile

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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