Erste Group Bank (OTCMKTS:EBKDY) Sees Large Volume Increase - Here's Why

Key Points

• Trading volume surged 410% to approximately 401,016 shares, while Erste Group Bank’s stock slipped 1.0% to $69.61 from a prior close of $70.19.
• Analyst sentiment is broadly positive: the stock has an average “Buy” rating, including one Strong Buy, five Buy ratings, and one Hold rating.
• Erste Group exceeded quarterly expectations, reporting $1.44 in earnings per share versus a $1.43 estimate and $4.62 billion in revenue versus a $4.48 billion forecast.

Shares of Erste Group Bank AG (OTCMKTS:EBKDY - Get Free Report) saw strong trading volume on Wednesday . Approximately 401,016 shares were traded during trading, an increase of 410% from the previous session's volume of 78,594 shares.The stock last traded at $69.6135 and had previously closed at $70.19.

Analyst Ratings Changes

Several research analysts have recently commented on EBKDY shares. The Goldman Sachs Group raised Erste Group Bank to a "strong-buy" rating in a research note on Wednesday, July 8th. Citigroup reissued a "buy" rating on shares of Erste Group Bank in a report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Erste Group Bank in a research note on Monday, July 20th. Oddo Bhf raised shares of Erste Group Bank from a "neutral" rating to an "outperform" rating in a report on Thursday, August 6th. Finally, Zacks Research raised shares of Erste Group Bank from a "strong sell" rating to a "hold" rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Erste Group Bank currently has an average rating of "Buy".

Erste Group Bank Trading Down 1.0%

The stock has a fifty day moving average of $69.00 and a 200 day moving average of $62.74. 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 $53.97 billion, a PE ratio of 13.31, a PEG ratio of 0.69 and a beta of 0.85.

Erste Group Bank (OTCMKTS:EBKDY - Get Free Report) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.01. The firm had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.48 billion. Erste Group Bank had a net margin of 18.39% and a return on equity of 10.22%. As a group, sell-side analysts predict that Erste Group Bank AG will post 5.91 earnings per share for the current fiscal year.

About Erste Group Bank

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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