Erste Group Bank (OTCMKTS:EBKDY) Reaches New 12-Month High on Earnings Beat

Erste Group Bank AG (OTCMKTS:EBKDY) reached a new 52-week high during trading on Friday following a stronger than expected earnings report. The company traded as high as $51.85 and last traded at $51.85, with a volume of 30493 shares trading hands. The stock had previously closed at $49.09.

The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.19. Erste Group Bank had a net margin of 16.96% and a return on equity of 10.08%. The firm had revenue of $3.38 billion during the quarter, compared to analysts’ expectations of $3.30 billion.

Analysts Set New Price Targets

EBKDY has been the subject of several research analyst reports. Morgan Stanley reissued an “overweight” rating on shares of Erste Group Bank in a report on Tuesday, September 2nd. Cfra Research raised Erste Group Bank to a “hold” rating in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Erste Group Bank in a report on Monday, August 4th. Finally, Zacks Research upgraded Erste Group Bank to a “hold” rating in a report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Erste Group Bank Stock Up 5.1%

The stock has a fifty day moving average of $48.87 and a 200-day moving average of $44.48. The firm has a market capitalization of $42.37 billion, a P/E ratio of 12.74, a P/E/G 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.