Erste Group Bank (OTCMKTS:EBKDY) Rating Lowered to Strong Sell at Zacks Research

Erste Group Bank (OTCMKTS:EBKDY) was downgraded by equities researchers 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.

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

Erste Group Bank Stock Up 2.0%

EBKDY opened at $66.07 on Wednesday. The company has a market capitalization of $51.32 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 0.65 and a beta of 0.84. The firm 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 twelve month low of $45.19 and a twelve month high of $68.28.

Erste Group Bank (OTCMKTS:EBKDY) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.01. The company had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Erste Group Bank had a net margin of 19.27% and a return on equity of 10.96%. On average, sell-side analysts expect that Erste Group Bank will post 5.84 earnings per share 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.