Erste Group Bank (OTCMKTS:EBKDY) Shares Gap Down - Time to Sell?

Key Points

• Erste Group Bank shares fell sharply at the open, dropping from a prior close of $62.30 to $57.54, while trading below both its 50-day and 200-day moving averages.
• Despite the decline, analyst sentiment remains positive: the stock has an average “Buy” rating, including one Strong Buy, five Buys and one Hold.
• The bank slightly exceeded quarterly expectations, reporting $1.44 in earnings per share versus the $1.43 consensus and revenue of $4.62 billion versus estimates of $4.48 billion.

Shares of Erste Group Bank AG (OTCMKTS:EBKDY - Get Free Report) gapped down before the market opened on Friday. The stock had previously closed at $62.30, but opened at $57.54. Erste Group Bank shares last traded at $57.5415, with a volume of 5,670 shares traded.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Morgan Stanley reissued an "overweight" rating on shares of Erste Group Bank in a research note on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Erste Group Bank in a report on Monday, July 20th. Oddo Bhf upgraded Erste Group Bank from a "neutral" rating to an "outperform" rating in a research note on Thursday, August 6th. The Goldman Sachs Group raised Erste Group Bank to a "strong-buy" rating in a report on Wednesday, July 8th. Finally, Citigroup restated a "buy" rating on shares of Erste Group Bank in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy".

Erste Group Bank Trading Down 2.1%

The firm's 50-day moving average is $67.87 and its 200 day moving average is $64.37. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $44.65 billion, a price-to-earnings ratio of 11.01, a P/E/G ratio of 0.62 and a beta of 0.92.

Erste Group Bank (OTCMKTS:EBKDY - Get Free Report) last posted 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. 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 analyst estimates of $4.48 billion. On average, equities analysts predict that Erste Group Bank AG will post 5.89 earnings per share for the current fiscal year.

About Erste Group Bank

Erste Group Bank AG is an Austria-based financial services group that provides banking and related services to retail customers, small and medium-sized businesses, corporations, public-sector organizations and institutional clients. Its offerings include deposit accounts, consumer and mortgage lending, business finance, payment services, investment products, securities trading and wealth management.

Founded in 1819 as Erste österreichische Spar-Casse, the group has developed into one of Central and Eastern Europe's major banking organizations.

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