The Chairman & Chief Executive Officer of Erste Group Bank (Other OTC: EBKOF) is Buying Shares

Yesterday, the Chairman & Chief Executive Officer of Erste Group Bank (EBKOFResearch Report), Bernhard Spalt, bought shares of EBKOF for $91.96K.

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Based on Erste Group Bank’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $1.81 billion and quarterly net profit of $58.5 million. In comparison, last year the company earned revenue of $1.8 billion and had a net profit of $491 million. The company has a one-year high of $38.31 and a one-year low of $16.40. EBKOF’s market cap is $8.58 billion and the company has a P/E ratio of 9.60.

Based on 5 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $29.21, reflecting a -27.5% downside. Three different firms, including Citigroup and Societe Generale, currently also have a Buy rating on the stock.

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Founded in 1819 as Austria’s first savings bank, Erste Group Bank employs around 47,000 and serves around 16 million customers. The bank has more than 2,600 branches in seven countries, which it considers its home markets. Erste Group is one of the largest financial services providers in Central and Eastern Europe. While the bank is headquartered in Austria, it also has core operations in the Czech Republic, Slovakia, Romania, Hungary, Croatia, and Serbia. In addition, it has a direct and indirect majority and minority presence in Central and Eastern Europe (Slovenia, Bosnia, Montenegro, Macedonia, and Moldova).