Erste Group Bank AG (OTCMKTS:EBKDY) Stock Short Interest Declines 91.8%

Key Points

• Short interest plunged 91.8% at Erste Group Bank, falling to 1,370 shares as of September 30 from 16,670 shares two weeks earlier. Short interest now represents approximately 0.0% of shares outstanding.
• EBKDY shares were flat at $61.36, with a market capitalization of $47.66 billion, while the stock traded below its 50-day moving average of $69.32 but above its 52-week low of $47.02.
• Recent quarterly results slightly exceeded expectations, with earnings of $1.44 per share and revenue of $4.62 billion. Analysts maintain a broadly positive view, giving the stock an average rating of “Buy”.

Erste Group Bank AG (OTCMKTS:EBKDY - Get Free Report) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 1,370 shares, a drop of 91.8% from the September 15th total of 16,670 shares. Based on an average daily volume of 666,353 shares, the short-interest ratio is currently 0.0 days. Approximately 0.0% of the company's shares are short sold.

Erste Group Bank Price Performance

OTCMKTS:EBKDY remained flat at $61.36 during trading hours on Friday. The company's stock had a trading volume of 49,525 shares, compared to its average volume of 272,613. The firm has a market cap of $47.66 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 0.61 and a beta of 0.92. The business has a 50 day simple moving average of $69.32 and a 200-day simple moving average of $63.82. Erste Group Bank has a 52-week low of $47.02 and a 52-week high of $73.10. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.20.

Erste Group Bank (OTCMKTS:EBKDY - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.44 earnings per share 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 during the quarter, compared to analyst estimates of $4.48 billion. As a group, sell-side analysts expect that Erste Group Bank will post 5.89 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EBKDY. The Goldman Sachs Group raised Erste Group Bank to a "strong-buy" rating in a research note on Wednesday, July 8th. Zacks Research upgraded Erste Group Bank from a "strong sell" rating to a "hold" rating in a research note on Friday, August 7th. Morgan Stanley reissued an "overweight" rating on shares of Erste Group Bank in a report on Wednesday, September 2nd. Citigroup reaffirmed a "buy" rating on shares of Erste Group Bank in a research report on Wednesday, July 29th. Finally, Oddo Bhf upgraded shares of Erste Group Bank from a "neutral" rating to an "outperform" rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy".

Erste Group Bank Company Profile

Erste Group Bank AG is an Austria-based banking group serving retail customers, small and medium-sized businesses, corporate clients, and institutional customers. Its services include current and savings accounts, consumer and housing loans, mortgages, payment services, investment products, insurance-related offerings, corporate finance, and capital-markets services.

The group has its roots in Erste österreichische Spar-Casse, founded in Vienna in 1819. Through its banking subsidiaries, Erste Group provides financial services across Austria and several Central and Eastern European markets, including the Czech Republic, Slovakia, Romania, Hungary, Croatia, and Serbia.

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