Erste Group Bank (OTCMKTS:EBKDY) Sees Strong Trading Volume - Here's Why

Key Points

• Erste Group Bank shares rose 4.4% to $70.33, while trading volume surged 361% to 328,056 shares from the prior session.
• Analysts are broadly bullish: the stock has an average “Buy” rating, including upgrades from Zacks Research, Oddo Bhf, and Goldman Sachs.
• The bank exceeded quarterly expectations, reporting $1.44 EPS versus the $1.43 consensus and revenue of $4.62 billion compared with estimates of $4.48 billion.

Erste Group Bank AG (OTCMKTS:EBKDY - Get Free Report) shares saw unusually-strong trading volume on Thursday . 328,056 shares were traded during mid-day trading, an increase of 361% from the previous session's volume of 71,170 shares.The stock last traded at $70.33 and had previously closed at $67.3350.

Analysts Set New Price Targets

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

Erste Group Bank Trading Up 4.4%

The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.20. The business has a fifty day simple moving average of $68.75 and a 200 day simple moving average of $62.40. The company has a market cap of $54.59 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 0.67 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 (EPS) for the quarter, beating 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 company had revenue of $4.62 billion during the quarter, compared to analysts' expectations of $4.48 billion. On average, equities analysts anticipate that Erste Group Bank AG will post 5.93 EPS 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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