Short Interest in Erste Group Bank AG (OTCMKTS:EBKDY) Rises By 70.1%

Key Points

• Short interest in Erste Group Bank AG surged by 70.1% in July, increasing from 25,400 to 43,200 shares.
• The stock price experienced a 2.2% decline, trading at $50.29, despite reporting strong quarterly earnings of $1.20 per share, surpassing estimates.
• Analysts have a consensus rating of "Moderate Buy", with several raising their ratings to "strong buy" or "buy," reflecting positive sentiment towards the stock.

Erste Group Bank AG (OTCMKTS:EBKDY - Get Free Report) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 43,200 shares, agrowthof70.1% from the July 15th total of 25,400 shares. Based on an average daily trading volume, of 88,500 shares, the days-to-cover ratio is presently 0.5 days. Currently,0.0% of the shares of the company are short sold. Currently,0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 88,500 shares, the days-to-cover ratio is presently 0.5 days.

Erste Group Bank Stock Down 2.2%

OTCMKTS EBKDY traded down $1.13 during trading on Monday, hitting $50.29. 191,676 shares of the stock traded hands, compared to its average volume of 70,715. The company has a market capitalization of $41.29 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14. The firm has a 50-day simple moving average of $44.29 and a 200-day simple moving average of $38.87. Erste Group Bank has a 12-month low of $25.68 and a 12-month high of $51.72.

Erste Group Bank (OTCMKTS:EBKDY - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.15. The business had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $3.18 billion. Erste Group Bank had a return on equity of 10.42% and a net margin of 16.96%. As a group, research analysts predict that Erste Group Bank will post 4.05 EPS for the current fiscal year.

Erste Group Bank Cuts Dividend

The business also recently announced a dividend, which was paid on Monday, June 9th. Stockholders of record on Wednesday, May 28th were issued a $1.1657 dividend. The ex-dividend date was Tuesday, May 27th. This represents a dividend yield of 289.0%. Erste Group Bank's payout ratio is 28.89%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. UBS Group raised Erste Group Bank from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 26th. Morgan Stanley reissued an "overweight" rating on shares of Erste Group Bank in a research note on Tuesday, August 5th. Zacks Research raised Erste Group Bank to a "hold" rating in a research note on Monday, August 11th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Erste Group Bank in a research note on Monday, August 4th. Finally, Cfra Research raised Erste Group Bank to a "hold" rating in a research note on Tuesday, August 5th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Erste Group Bank currently has a consensus rating of "Moderate Buy".

Erste Group Bank Company Profile

Erste Group Bank AG provides a range of banking and other financial services to retail, corporate, and public sector customers. The company operates through Retail, Corporates, Group Markets, Asset/Liability Management & Local Corporate Center, Savings Banks, and Group Corporate Center segments. It provides mortgage and consumer loans, investment products, current accounts, savings products, and credit cards, as well as cross selling products, such as leasing, insurance, and building society products.

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