Erste Group Bank (OTCMKTS:EBKDY) Stock Crosses Above 50 Day Moving Average – Here’s Why

Erste Group Bank AG (OTCMKTS:EBKDY)’s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $56.55 and traded as high as $61.81. Erste Group Bank shares last traded at $61.04, with a volume of 34,673 shares changing hands.

Analyst Upgrades and Downgrades

EBKDY has been the subject of a number of research analyst reports. Barclays upgraded Erste Group Bank from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, December 2nd. Morgan Stanley reissued an “overweight” rating on shares of Erste Group Bank in a research report on Monday, November 24th. Oddo Bhf cut shares of Erste Group Bank to a “neutral” rating in a report on Thursday, November 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Erste Group Bank in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Erste Group Bank Stock Up 0.3%

The firm has a market capitalization of $50.12 billion, a P/E ratio of 14.67, a P/E/G ratio of 0.84 and a beta of 0.85. The company has a fifty day simple moving average of $56.55 and a 200 day simple moving average of $50.85. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 1.36.

Erste Group Bank (OTCMKTS:EBKDY) last posted its quarterly earnings results on Friday, October 31st. 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 9.85% and a net margin of 17.36%.The firm had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.30 billion. On average, equities analysts expect that Erste Group Bank AG will post 4.05 EPS 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.