Erste Group Bank (OTCMKTS:EBKDY) Downgraded by Zacks Research to Strong Sell

Zacks Research downgraded shares of Erste Group Bank (OTCMKTS:EBKDY) from a hold rating to a strong sell rating in a report released on Wednesday,Zacks.com reports.

EBKDY has been the subject of several other research reports. Citigroup reaffirmed a “buy” rating on shares of Erste Group Bank in a research note on Wednesday. Morgan Stanley reissued an “overweight” rating on shares of Erste Group Bank in a research note on Wednesday. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Erste Group Bank in a report on Monday, July 20th. Finally, The Goldman Sachs Group upgraded Erste Group Bank to a “strong-buy” rating in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Erste Group Bank Stock Up 2.0%

Shares of EBKDY opened at $66.07 on Wednesday. Erste Group Bank has a 52-week low of $45.19 and a 52-week high of $68.28. The firm’s fifty day moving average is $63.72 and its two-hundred day moving average is $60.63. The stock has a market cap of $51.32 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 0.65 and a beta of 0.84.

Erste Group Bank (OTCMKTS:EBKDY) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.01. The business had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.48 billion. Erste Group Bank had a net margin of 19.27% and a return on equity of 10.96%. As a group, research analysts anticipate that Erste Group Bank will post 5.84 earnings per share 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.