Erste Group Bank (OTCMKTS:EBKDY) Upgraded to “Strong-Buy” at UBS Group

UBS Group upgraded shares of Erste Group Bank (OTCMKTS:EBKDY) from a hold rating to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

A number of other research analysts have also recently commented on the company. Citigroup cut Erste Group Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 10th. Morgan Stanley reiterated an “overweight” rating on shares of Erste Group Bank in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Erste Group Bank Stock Performance

Shares of Erste Group Bank stock opened at $40.10 on Monday. The firm has a market capitalization of $32.92 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 1.08 and a beta of 1.03. Erste Group Bank has a fifty-two week low of $22.36 and a fifty-two week high of $41.44. The stock has a 50 day moving average of $36.18 and a 200 day moving average of $33.17.

Erste Group Bank (OTCMKTS:EBKDY) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.14). Erste Group Bank had a return on equity of 10.95% and a net margin of 15.21%. The firm had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.21 billion. Analysts forecast that Erste Group Bank will post 4.05 EPS for the current year.

Erste Group Bank Cuts Dividend

The firm also recently announced a dividend, which will be paid on Monday, June 9th. Investors of record on Wednesday, May 28th will be issued a $1.1657 dividend. This represents a yield of 2.89%. The ex-dividend date is Tuesday, May 27th. Erste Group Bank’s dividend payout ratio (DPR) is presently 30.05%.

About Erste Group Bank

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.