Erste Group Bank AG (OTCMKTS:EBKDY) Stock Short Interest Rises 76.7%

Key Points

• Short interest in Erste Group Bank rose 76.7% to 16,670 shares as of September 15, although short positions represented 0.0% of shares outstanding and only 0.2 days of average trading volume.
• Analyst sentiment remains positive, with one Strong Buy, five Buy, and one Hold rating; the stock has an average consensus rating of “Buy.”
• Shares traded at $69.70, near the company’s $73.10 one-year high, while quarterly results slightly exceeded expectations with $1.44 EPS and $4.62 billion in revenue.

Erste Group Bank AG (OTCMKTS:EBKDY - Get Free Report) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 16,670 shares, an increase of 76.7% from the August 31st total of 9,434 shares. Based on an average daily trading volume, of 84,211 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the company's stock are sold short.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EBKDY. The Goldman Sachs Group upgraded Erste Group Bank to a "strong-buy" rating in a research note on Wednesday, July 8th. Zacks Research raised shares of Erste Group Bank from a "strong sell" rating to a "hold" rating in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Erste Group Bank in a report on Monday, July 20th. Citigroup reissued a "buy" rating on shares of Erste Group Bank in a report on Wednesday, July 29th. Finally, Oddo Bhf upgraded Erste Group Bank from a "neutral" rating to an "outperform" rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy".

Erste Group Bank Stock Performance

OTCMKTS:EBKDY traded down $2.51 during trading hours on Tuesday, reaching $69.70. The company had a trading volume of 9,521 shares, compared to its average volume of 94,285. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.95 and a quick ratio of 0.95. The business's 50 day moving average price is $69.44 and its 200-day moving average price is $63.16. Erste Group Bank has a 1-year low of $47.02 and a 1-year high of $73.10. The firm has a market cap of $54.14 billion, a PE ratio of 13.35, a price-to-earnings-growth 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, topping analysts' consensus estimates 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 firm had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.48 billion. Research analysts forecast that Erste Group Bank will post 5.91 EPS for the current year.

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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