Erste Group Bank AG (OTCMKTS:EBKDY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.

According to Zacks, “The Erste Bank der Muster is a traditional banking group and providering financial services in Central and Eastern Europe. It focuses on retail and SME banking. It offers a range of products through group-wide bundling of product know how into Competence Centres covering, among others, Debt financing, Equity capital markets ,Mergers and acquisitions,Debt advisory, Project financing, Syndication, Real Estate financing and solutions, Infrastructure Finance & Public Sector, Merchant Banking / Private Equity, Leasing solutions (IMMORENT), and Corporate Cash Management. Its customers can avail its products in netbanking, wether it is Komfort-Kredit, Profit account, Bonus account, Building society contract, Pension plan or the order of MasterCard or VISA Card. Erste Bank focuses on private clients, corporate clients and the public sector. it offers all financial products under one roof. It operates in the areas of investment , construction and living , and leasing. Erste Bank is based in Vienna, Austria. “

Separately, Goldman Sachs Group Inc. cut shares of Erste Group Bank AG from a “buy” rating to a “neutral” rating in a research note on Monday, September 12th.

Erste Group Bank AG (OTCMKTS:EBKDY) opened at 13.71 on Friday. Erste Group Bank AG has a one year low of $10.27 and a one year high of $16.09. The firm has a market capitalization of $11.23 billion, a price-to-earnings ratio of 8.08 and a beta of 1.56. The firm’s 50-day moving average is $14.97 and its 200 day moving average is $13.69.

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About Erste Group Bank AG

Erste Group Bank AG is an Austria-based savings bank. The Company offers a range of banking and other financial services, such as savings accounts, asset management (including investment funds), consumer credit and mortgage lending, investment banking, securities and derivatives trading, portfolio management, project finance, foreign trade financing, corporate finance, capital market and money market services, foreign exchange trading, leasing and factoring.

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