Erste Group Bank (OTCMKTS:EBKDY) Cut to “Strong Sell” at Zacks Research

Erste Group Bank (OTCMKTS:EBKDY – Get Free Report) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

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

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Erste Group Bank Stock Up 2.0%

Shares of Erste Group Bank stock opened at $66.07 on Wednesday. The business has a 50-day moving average price of $63.72 and a 200 day moving average price of $60.63. Erste Group Bank has a fifty-two week low of $45.19 and a fifty-two week high of $68.28. The firm has a market cap of $51.32 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.65 and a beta of 0.84.

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

About Erste Group Bank

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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.

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