Erste Group Bank (OTCMKTS:EBKDY) Shares Gap Up on Strong Earnings

Erste Group Bank AG (OTCMKTS:EBKDY)’s share price gapped up before the market opened on Monday following a stronger than expected earnings report. The stock had previously closed at $49.09, but opened at $51.9450. Erste Group Bank shares last traded at $51.9450, with a volume of 715 shares.

The financial services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.19. Erste Group Bank had a return on equity of 10.08% and a net margin of 16.96%.The company had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.30 billion.

Wall Street Analyst Weigh In

EBKDY has been the topic of several recent research reports. Cfra Research raised Erste Group Bank to a “hold” rating in a report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Erste Group Bank in a research note on Monday, August 4th. Zacks Research raised Erste Group Bank to a “hold” rating in a research note on Monday, August 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Erste Group Bank in a research note on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Erste Group Bank Stock Up 5.8%

The stock has a fifty day moving average of $48.87 and a 200-day moving average of $44.54. The firm has a market capitalization of $42.65 billion, a P/E ratio of 12.83, a PEG ratio of 0.83 and a beta of 1.09.

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.