Erste Group Bank (OTCMKTS:EBKDY) Stock Falls 6.8% - Here's Why

Key Points

• Erste Group Bank shares fell 6.8% in mid-day trading to $63.83, with trading volume down 97% from the average session.
• Despite the decline, analyst sentiment remains positive: the stock carries an average “Buy” rating, including one Strong Buy, five Buys, and one Hold.
• The bank’s latest quarterly results slightly exceeded expectations, reporting $1.44 in EPS versus the $1.43 consensus and revenue of $4.62 billion versus $4.48 billion expected.

Erste Group Bank AG (OTCMKTS:EBKDY - Get Free Report) fell 6.8% during mid-day trading on Friday. The stock traded as low as $63.39 and last traded at $63.83. 2,923 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 94,068 shares. The stock had previously closed at $68.50.

Analyst Ratings Changes

A number of brokerages have commented on EBKDY. Zacks Research upgraded Erste Group Bank from a "strong sell" rating to a "hold" rating in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Erste Group Bank in a report on Monday, July 20th. Citigroup reissued a "buy" rating on shares of Erste Group Bank in a research report on Wednesday, July 29th. Morgan Stanley restated an "overweight" rating on shares of Erste Group Bank in a report on Wednesday, September 2nd. Finally, Oddo Bhf raised shares of Erste Group Bank from a "neutral" rating to an "outperform" rating in a research report on Thursday, August 6th. One 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. According to MarketBeat, the company currently has an average rating of "Buy".

Erste Group Bank Stock Down 1.8%

The firm has a 50 day moving average price of $69.57 and a two-hundred day moving average price of $63.45. 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 company has a market capitalization of $49.71 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 0.68 and a beta of 0.92.

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