Erste Group Bank (OTCMKTS:EBKDY) Shares Gap Down - Here's What Happened

Key Points

• Erste Group Bank shares fell 4.9%, opening at $61.50 versus the prior close of $65.06 and last trading at $61.38.
• Analyst sentiment remains positive: Morgan Stanley maintained an “overweight” rating, while other firms issued or reaffirmed “buy” and “outperform” ratings. MarketBeat reports a consensus rating of “Buy.”
• The bank slightly exceeded quarterly expectations, reporting $1.44 in EPS versus the $1.43 consensus and revenue of $4.62 billion versus estimates of $4.48 billion.

Erste Group Bank AG (OTCMKTS:EBKDY - Get Free Report)'s share price gapped down prior to trading on Wednesday. The stock had previously closed at $65.06, but opened at $61.50. Erste Group Bank shares last traded at $61.38, with a volume of 3,619 shares.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Morgan Stanley reissued an "overweight" rating on shares of Erste Group Bank in a research note on Wednesday, September 2nd. Oddo Bhf raised Erste Group Bank from a "neutral" rating to an "outperform" rating in a research report on Thursday, August 6th. Zacks Research raised Erste Group Bank from a "strong sell" rating to a "hold" rating in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Erste Group Bank in a research note on Monday, July 20th. Finally, Citigroup reissued a "buy" rating on shares of Erste Group Bank in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy".

Erste Group Bank Stock Down 4.9%

The stock has a market capitalization of $48.04 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 0.64 and a beta of 0.92. 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 firm has a 50 day simple moving average of $69.55 and a 200-day simple moving average of $63.71.

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 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.01. The company had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.48 billion. Erste Group Bank had a return on equity of 10.22% and a net margin of 18.39%. On average, sell-side analysts forecast that Erste Group Bank AG will post 5.89 EPS for the current fiscal year.

About Erste Group Bank

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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