Commerzbank (OTCMKTS:CRZBY) Shares Gap Down – What’s Next?
by Mitch Edgeman · The Markets DailyCommerzbank AG (OTCMKTS:CRZBY – Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $36.27, but opened at $34.39. Commerzbank shares last traded at $34.39, with a volume of 3,696 shares changing hands.
Wall Street Analysts Forecast Growth
Several analysts have commented on CRZBY shares. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Commerzbank in a research note on Monday, February 23rd. Zacks Research upgraded Commerzbank from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 17th. Finally, DZ Bank raised Commerzbank from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.
Get Our Latest Analysis on CRZBY
Commerzbank Stock Performance
The company’s fifty day moving average price is $39.16 and its two-hundred day moving average price is $38.90. The firm has a market capitalization of $38.80 billion, a PE ratio of 14.83 and a beta of 0.37.
Commerzbank (OTCMKTS:CRZBY – Get Free Report) last issued its quarterly earnings results on Wednesday, March 25th. The financial services provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.61 billion. Commerzbank had a net margin of 11.02% and a return on equity of 7.38%. On average, equities analysts expect that Commerzbank AG will post 1.96 earnings per share for the current year.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Commerzbank stock. Rhumbline Advisers increased its position in Commerzbank AG (OTCMKTS:CRZBY – Free Report) by 14.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,140 shares of the financial services provider’s stock after buying an additional 650 shares during the quarter. Rhumbline Advisers’ holdings in Commerzbank were worth $117,000 as of its most recent filing with the Securities and Exchange Commission.
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.