Commerzbank (OTCMKTS:CRZBY) Shares Gap Up – Time to Buy?
by Mitch Edgeman · The Markets DailyCommerzbank AG (OTCMKTS:CRZBY – Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $34.79, but opened at $36.8950. Commerzbank shares last traded at $37.07, with a volume of 118,505 shares.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on CRZBY. DZ Bank raised Commerzbank from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. Zacks Research raised Commerzbank from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 17th. Finally, The Goldman Sachs Group restated a “neutral” rating on shares of Commerzbank in a research note on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.
View Our Latest Research Report on Commerzbank
Commerzbank Trading Up 9.8%
The stock has a market capitalization of $41.64 billion, a price-to-earnings ratio of 16.27 and a beta of 0.37. The company’s 50 day moving average is $40.14 and its 200 day moving average is $39.01.
Institutional Trading of Commerzbank
A hedge fund recently raised its stake in Commerzbank stock. GAMMA Investing LLC increased its position in Commerzbank AG (OTCMKTS:CRZBY – Free Report) by 18.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,841 shares of the financial services provider’s stock after purchasing an additional 741 shares during the period. GAMMA Investing LLC’s holdings in Commerzbank were worth $183,000 at the end of the most recent quarter.
About Commerzbank
Commerzbank AG is a major German banking group headquartered in Frankfurt am Main. Founded in 1870, the bank operates as a universal financial institution offering a broad range of services to private customers, small and medium-sized enterprises (the German “Mittelstand”), and large corporates. Its core business lines include retail and corporate banking, transaction banking, capital markets and investment banking, as well as asset and wealth management.
On the retail side, Commerzbank provides everyday banking products such as deposit accounts, payment services, consumer loans, mortgages and digital banking channels for individual customers.