Erste Group Bank (OTCMKTS:EBKDY) Shares Gap Down – Here’s What Happened

Erste Group Bank AG (OTCMKTS:EBKDY)’s share price gapped down prior to trading on Wednesday. The stock had previously closed at $65.06, but opened at $61.50. Erste Group Bank shares last traded at $61.38, with a volume of 3,619 shares traded.

Analyst Upgrades and Downgrades

EBKDY has been the subject of several research reports. The Goldman Sachs Group raised shares of Erste Group Bank to a “strong-buy” rating in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Erste Group Bank in a report on Monday, July 20th. Morgan Stanley reissued an “overweight” rating on shares of Erste Group Bank in a research note on Wednesday, September 2nd. Zacks Research upgraded Erste Group Bank from a “strong sell” rating to a “hold” rating in a report on Friday, August 7th. Finally, Oddo Bhf raised Erste Group Bank from a “neutral” rating to an “outperform” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy”.

Erste Group Bank Stock Performance

The stock has a market capitalization of $48.04 billion, a P/E ratio of 11.85, a PEG ratio of 0.64 and a beta of 0.92. The stock’s 50-day simple moving average is $69.55 and its 200 day simple moving average is $63.71. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.95 and a quick ratio of 0.95.

Erste Group Bank (OTCMKTS:EBKDY) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.01. Erste Group Bank had a return on equity of 10.22% and a net margin of 18.39%.The firm had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.48 billion. Research analysts expect that Erste Group Bank AG will post 5.89 EPS for the current fiscal 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.