The Goldman Sachs Group Upgrades Erste Group Bank (OTCMKTS:EBKDY) to “Strong-Buy”

Erste Group Bank (OTCMKTS:EBKDY) was upgraded by investment analysts at The Goldman Sachs Group to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Several other brokerages have also recently issued reports on EBKDY. Zacks Research cut Erste Group Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Erste Group Bank in a report on Friday, April 17th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Erste Group Bank in a research report on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Erste Group Bank Price Performance

Shares of Erste Group Bank stock opened at $67.13 on Wednesday. The firm has a fifty day moving average price of $61.14 and a 200 day moving average price of $60.06. Erste Group Bank has a 1 year low of $42.66 and a 1 year high of $68.28. The stock has a market cap of $52.14 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 0.65 and a beta of 0.84.

Erste Group Bank (OTCMKTS:EBKDY) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $1.26 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.05). The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.53 billion. Erste Group Bank had a net margin of 19.27% and a return on equity of 10.96%. As a group, equities analysts expect that Erste Group Bank will post 5.85 EPS for the current year.

About Erste Group Bank

Erste Group Bank AG is an Austrian banking group headquartered in Vienna that operates as a universal bank serving retail, corporate and institutional customers. The group offers a broad range of financial services including deposit-taking, lending, mortgage financing, payment and transaction banking, and wealth management. Erste Group also provides capital markets services, corporate and investment banking solutions, and a range of insurance and pension-linked products through partnerships and subsidiary operations.

Erste Group maintains a significant regional presence beyond Austria, with operations across several Central and Eastern European countries.