Erste Group Bank (OTCMKTS:EBKDY) Upgraded to “Buy” by Zacks Investment Research

Erste Group Bank (OTCMKTS:EBKDY) was upgraded by Zacks Investment Research from a “strong sell” rating to a “buy” rating in a research note issued to investors on Monday, Zacks.com reports. The brokerage currently has a $20.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.05% from the stock’s current price.

According to Zacks, “The Erste Bank der Muster is a traditional banking group and providering financial services in Central and Eastern Europe. It focuses on retail and SME banking. It offers a range of products through group-wide bundling of product know how into Competence Centres covering, among others, Debt financing, Equity capital markets ,Mergers and acquisitions,Debt advisory, Project financing, Syndication, Real Estate financing and solutions, Infrastructure Finance & Public Sector, Merchant Banking / Private Equity, Leasing solutions (IMMORENT), and Corporate Cash Management. Its customers can avail its products in netbanking, wether it is Komfort-Kredit, Profit account, Bonus account, Building society contract, Pension plan or the order of MasterCard or VISA Card. Erste Bank focuses on private clients, corporate clients and the public sector. it offers all financial products under one roof. It operates in the areas of investment , construction and living , and leasing. Erste Bank is based in Vienna, Austria. “

Several other brokerages have also weighed in on EBKDY. Credit Suisse Group began coverage on shares of Erste Group Bank in a research report on Monday, February 1st. They set a “neutral” rating on the stock. Morgan Stanley reaffirmed an “equal weight” rating on shares of Erste Group Bank in a research report on Thursday, January 28th. Exane BNP Paribas upgraded shares of Erste Group Bank from a “neutral” rating to an “outperform” rating in a report on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Erste Group Bank in a research report on Tuesday, March 2nd. Finally, BNP Paribas downgraded shares of Erste Group Bank from an “outperform” rating to a “neutral” rating in a research note on Wednesday, January 27th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Erste Group Bank has a consensus rating of “Hold” and a consensus target price of $20.00.

Shares of OTCMKTS EBKDY opened at $18.01 on Monday. The stock’s fifty day simple moving average is $17.42 and its 200 day simple moving average is $15.41. The stock has a market capitalization of $15.48 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 6.78 and a beta of 1.51. Erste Group Bank has a 52-week low of $9.50 and a 52-week high of $18.15.

Erste Group Bank (OTCMKTS:EBKDY) last posted its quarterly earnings data on Friday, April 30th. The financial services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.07. Erste Group Bank had a net margin of 10.26% and a return on equity of 4.23%. As a group, sell-side analysts expect that Erste Group Bank will post 1 EPS for the current year.

Erste Group Bank Company Profile

Erste Group Bank AG provides a range of banking and other financial services to retail, corporate, real estate, and public sector customers in Austria, Central and Eastern Europe, and internationally. It operates through Retail, Corporates, Group Markets, Asset/Liability Management and Local Corporate Center, Savings Banks, and Group Corporate Center segments.

Further Reading: Candlestick

Get a free copy of the Zacks research report on Erste Group Bank (EBKDY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Erste Group Bank (OTCMKTS:EBKDY)

Receive News & Ratings for Erste Group Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Erste Group Bank and related companies with MarketBeat.com's FREE daily email newsletter.