Erste Group Bank (OTCMKTS:EBKDY) Shares Gap Down – Time to Sell?

Erste Group Bank AG (OTCMKTS:EBKDY) gapped down prior to trading on Wednesday. The stock had previously closed at $65.06, but opened at $61.50. Erste Group Bank shares last traded at $61.38, with a volume of 3,619 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EBKDY. The Goldman Sachs Group upgraded shares of Erste Group Bank to a “strong-buy” rating in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Erste Group Bank in a report on Monday, July 20th. Oddo Bhf raised Erste Group Bank from a “neutral” rating to an “outperform” rating in a report on Thursday, August 6th. Citigroup restated a “buy” rating on shares of Erste Group Bank in a research report on Wednesday, July 29th. Finally, Zacks Research raised Erste Group Bank from a “strong sell” rating to a “hold” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Erste Group Bank presently has a consensus rating of “Buy”.

Erste Group Bank Stock Down 0.6%

The firm has a fifty day moving average price of $69.40 and a 200 day moving average price of $63.83. The firm has a market capitalization of $47.66 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 0.61 and a beta of 0.92. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.95 and a current ratio of 0.95.

Erste Group Bank (OTCMKTS:EBKDY) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.43 by $0.01. Erste Group Bank had a net margin of 18.39% and a return on equity of 10.22%. The firm had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.48 billion. As a group, sell-side analysts expect that Erste Group Bank AG will post 5.89 EPS for the current fiscal year.

About Erste Group Bank

Erste Group Bank AG is an Austria-based banking group serving retail customers, small and medium-sized businesses, corporate clients, and institutional customers. Its services include current and savings accounts, consumer and housing loans, mortgages, payment services, investment products, insurance-related offerings, corporate finance, and capital-markets services.

The group has its roots in Erste österreichische Spar-Casse, founded in Vienna in 1819. Through its banking subsidiaries, Erste Group provides financial services across Austria and several Central and Eastern European markets, including the Czech Republic, Slovakia, Romania, Hungary, Croatia, and Serbia.