Erste Group Bank (OTCMKTS:EBKDY) Shares Gap Up – Here’s Why

Erste Group Bank AG (OTCMKTS:EBKDY) shares gapped up prior to trading on Wednesday . The stock had previously closed at $53.97, but opened at $59.06. Erste Group Bank shares last traded at $58.7601, with a volume of 719 shares.

Analysts Set New Price Targets

A number of research firms recently issued reports on EBKDY. Citigroup raised shares of Erste Group Bank to a “strong-buy” rating in a report on Wednesday, February 11th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Erste Group Bank in a report on Friday, April 17th. Finally, Zacks Research downgraded shares of Erste Group Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Erste Group Bank presently has an average rating of “Moderate Buy”.

Erste Group Bank Stock Up 1.2%

The firm has a market cap of $44.93 billion, a PE ratio of 11.62, a P/E/G ratio of 0.58 and a beta of 0.84. The firm’s fifty day simple moving average is $56.83 and its two-hundred day simple moving average is $57.40.

Erste Group Bank (OTCMKTS:EBKDY) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.05). Erste Group Bank had a net margin of 19.27% and a return on equity of 10.96%. The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.53 billion. As a group, analysts anticipate that Erste Group Bank AG will post 5.8 earnings per share 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.