Erste Group Bank AG (EBKDY) Downgraded by Zacks Investment Research to “Sell”

Erste Group Bank AG (OTCMKTS:EBKDY) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research report issued on Monday.

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. “

Separately, ValuEngine raised shares of Erste Group Bank AG from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd.

Shares of Erste Group Bank AG (OTCMKTS EBKDY) traded up 1.54% during mid-day trading on Monday, reaching $18.44. 18,542 shares of the company’s stock traded hands. The stock has a market capitalization of $15.14 billion, a PE ratio of 11.44 and a beta of 0.95. The company’s 50-day moving average price is $18.31 and its 200-day moving average price is $16.26. Erste Group Bank AG has a 12-month low of $10.27 and a 12-month high of $19.12.

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About Erste Group Bank AG

Erste Group Bank AG is a savings bank. The Company offers a range of banking and other financial services, such as savings accounts, asset management (including investment funds), consumer credit and mortgage lending, investment banking, securities and derivatives trading, portfolio management, project finance, foreign trade financing, corporate finance, capital market and money market services, foreign exchange trading, leasing and factoring.

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