Erste Group Bank (OTCMKTS:EBKDY) Stock Price Passes Above 50-Day Moving Average – Here’s Why

Erste Group Bank AG (OTCMKTS:EBKDY) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $62.19 and traded as high as $64.30. Erste Group Bank shares last traded at $64.30, with a volume of 49,202 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on EBKDY shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Erste Group Bank in a report on Friday, April 17th. The Goldman Sachs Group upgraded Erste Group Bank to a “strong-buy” rating in a research note on Wednesday, July 8th. Zacks Research lowered Erste Group Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Erste Group Bank in a research note on Wednesday, June 10th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Erste Group Bank Price Performance

The firm’s 50-day moving average is $62.19 and its 200-day moving average is $60.32. The company has a market capitalization of $49.94 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 0.64 and a beta of 0.84.

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

Erste Group Bank Company Profile

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.