Erste Group Bank AG (OTCMKTS:EBKDY) Sees Large Decrease in Short Interest

Erste Group Bank AG (OTCMKTS:EBKDY) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 17,700 shares, a drop of 53.2% from the August 15th total of 37,800 shares. Based on an average daily trading volume, of 41,600 shares, the days-to-cover ratio is currently 0.4 days.

EBKDY stock traded up $0.23 during mid-day trading on Friday, hitting $21.00. 9,802 shares of the company were exchanged, compared to its average volume of 53,203. The firm has a market cap of $18.05 billion, a P/E ratio of 11.87, a P/E/G ratio of 0.42 and a beta of 1.44. The firm’s 50 day simple moving average is $19.77 and its 200 day simple moving average is $19.03. Erste Group Bank has a 1-year low of $9.76 and a 1-year high of $21.67.

Erste Group Bank (OTCMKTS:EBKDY) last announced its earnings results on Friday, July 30th. The financial services provider reported $0.69 EPS for the quarter. Erste Group Bank had a net margin of 15.73% and a return on equity of 6.46%. The firm had revenue of $2.33 billion for the quarter. On average, equities research analysts forecast that Erste Group Bank will post 2.11 EPS for the current fiscal year.

A number of equities analysts have commented on EBKDY shares. UBS Group boosted their price objective on Erste Group Bank from €35.80 ($42.12) to €37.20 ($43.76) and gave the stock a “buy” rating in a research note on Monday, August 2nd. JPMorgan Chase & Co. raised shares of Erste Group Bank from a “neutral” rating to an “overweight” rating and set a $65.00 price objective on the stock in a report on Monday, August 2nd. Deutsche Bank Aktiengesellschaft raised shares of Erste Group Bank from a “hold” rating to a “buy” rating and set a €42.00 ($49.41) target price on the stock in a research note on Wednesday, September 8th. Morgan Stanley raised their target price on shares of Erste Group Bank from €40.00 ($47.06) to €42.00 ($49.41) and gave the company an “overweight” rating in a research note on Thursday, August 5th. Finally, Societe Generale raised shares of Erste Group Bank to a “buy” rating and raised their target price for the company from €39.00 ($45.88) to €42.00 ($49.41) in a research note on Monday, August 2nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $41.87.

Erste Group Bank Company Profile

Erste Group Bank AG engages in the provision of banking and financial services. It operates through the following business segments: Retail, Corporates, Group Markets, Asset/Liability Management & Local Corporate Center, Savings Banks, and Group Corporate Center. The Retail segment comprises the business with private individuals, micros, and free professionals within the responsibility of account managers in the retail network.

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