Erste Group Bank (OTCMKTS:EBKDY) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Erste Group Bank AG (OTCMKTS:EBKDY) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $33.84 and traded as high as $36.55. Erste Group Bank shares last traded at $36.41, with a volume of 37,283 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. UBS Group lowered shares of Erste Group Bank from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 4th. The Goldman Sachs Group raised Erste Group Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Morgan Stanley reiterated an “overweight” rating on shares of Erste Group Bank in a report on Friday, March 7th. Finally, Citigroup downgraded Erste Group Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, March 10th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Erste Group Bank Price Performance

The stock has a fifty day moving average price of $33.84 and a two-hundred day moving average price of $30.07. The company has a market cap of $29.89 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of 1.08 and a beta of 1.24.

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.