Erste Group Bank (OTCMKTS:EBKDY) Shares Gap Up Following Earnings Beat

Erste Group Bank AG (OTCMKTS:EBKDY) shares 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, beating analysts’ consensus estimates of $1.10 by $0.19. The firm had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.30 billion. Erste Group Bank had a return on equity of 10.08% and a net margin of 16.96%.

Analyst Ratings Changes

A number of research analysts have issued reports on EBKDY shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Erste Group Bank in a research note on Monday, August 4th. Zacks Research upgraded Erste Group Bank to a “hold” rating in a research note on Monday, August 11th. Cfra Research upgraded Erste Group Bank to a “hold” rating in a research note on Tuesday, August 5th. Finally, Morgan Stanley restated an “overweight” rating on shares of Erste Group Bank in a research note on Tuesday, September 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Erste Group Bank presently has a consensus rating of “Moderate Buy”.

Erste Group Bank Stock Performance

The firm has a 50 day simple moving average of $48.92 and a 200 day simple moving average of $44.66. The firm has a market cap of $42.50 billion, a P/E ratio of 12.78, a P/E/G ratio of 0.83 and a beta of 1.09.

Erste Group Bank Company Profile

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.