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

Key Points

• Erste Group Bank shares gapped down from a prior close of $69.66 to open at $66.27, later trading at $66.00 on volume of 1,678 shares.
• Despite the decline, analyst sentiment remains positive: Goldman Sachs upgraded the stock to “strong buy,” while other firms issued “buy,” “outperform,” or “overweight” ratings. MarketBeat reports a consensus rating of “Buy.”
• The bank slightly beat quarterly expectations, reporting $1.44 earnings per share versus a $1.43 estimate and revenue of $4.62 billion versus $4.48 billion expected.

Shares of Erste Group Bank AG (OTCMKTS:EBKDY - Get Free Report) gapped down before the market opened on Thursday. The stock had previously closed at $69.66, but opened at $66.27. Erste Group Bank shares last traded at $66.00, with a volume of 1,678 shares trading hands.

Analyst Ratings Changes

EBKDY has been the topic of several analyst reports. The Goldman Sachs Group raised Erste Group Bank to a "strong-buy" rating in a report on Wednesday, July 8th. Oddo Bhf raised Erste Group Bank from a "neutral" rating to an "outperform" rating in a research report on Thursday, August 6th. Zacks Research upgraded shares of 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 research report on Wednesday, September 2nd. Finally, Citigroup restated a "buy" rating on shares of Erste Group Bank in a research note on Wednesday, July 29th. One 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy".

Erste Group Bank Stock Performance

The business has a 50-day moving average of $69.56 and a 200 day moving average of $63.36. 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 company has a market cap of $50.58 billion, a PE ratio of 12.47, a PEG ratio of 0.69 and a beta of 0.85.

Erste Group Bank (OTCMKTS:EBKDY - Get Free Report) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.01. The company had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.48 billion. Erste Group Bank had a return on equity of 10.22% and a net margin of 18.39%. Equities research analysts anticipate that Erste Group Bank AG will post 5.89 EPS for the current fiscal 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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