Erste Group Bank (OTCMKTS:EBKDY) Shares Gap Up on Strong Earnings

Shares of Erste Group Bank AG (OTCMKTS:EBKDY) gapped up prior to trading on Monday after the company announced better than expected quarterly earnings. The stock had previously closed at $49.09, but opened at $51.9450. Erste Group Bank shares last traded at $51.9450, with a volume of 715 shares.

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

Analyst Ratings Changes

Several research analysts have recently commented on EBKDY shares. Zacks Research upgraded Erste Group Bank to a “hold” rating in a report on Monday, August 11th. Morgan Stanley reiterated an “overweight” rating on shares of Erste Group Bank in a report on Tuesday, September 2nd. Cfra Research upgraded Erste Group Bank to a “hold” rating in a report on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Erste Group Bank in a report on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Erste Group Bank presently has an average rating of “Moderate Buy”.

Erste Group Bank Trading Up 5.8%

The company has a market cap of $42.65 billion, a PE ratio of 12.83, a P/E/G ratio of 0.83 and a beta of 1.09. The business has a fifty day moving average of $48.87 and a 200-day moving average of $44.54.

About Erste Group Bank

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.