Commerzbank (OTCMKTS:CRZBY) Shares Gap Up – What’s Next?
by Sarita Garza · The Markets DailyCommerzbank AG (OTCMKTS:CRZBY – Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $41.50, but opened at $44.00. Commerzbank shares last traded at $44.00, with a volume of 944 shares.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the stock. Royal Bank Of Canada upgraded shares of Commerzbank from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Commerzbank in a research note on Tuesday, May 12th. Barclays upgraded Commerzbank from an “equal weight” rating to an “overweight” rating in a report on Monday, April 20th. Keefe, Bruyette & Woods upgraded Commerzbank from a “hold” rating to a “moderate buy” rating in a report on Thursday, March 26th. Finally, DZ Bank upgraded Commerzbank from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Commerzbank presently has a consensus rating of “Moderate Buy”.
Check Out Our Latest Analysis on CRZBY
Commerzbank Stock Up 2.1%
The company’s fifty day moving average price is $42.76 and its 200-day moving average price is $40.86. The stock has a market capitalization of $48.16 billion, a PE ratio of 17.36 and a beta of 0.53. The company has a quick ratio of 12.24, a current ratio of 12.24 and a debt-to-equity ratio of 1.62.
Commerzbank (OTCMKTS:CRZBY – Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.11. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Commerzbank had a return on equity of 7.69% and a net margin of 11.55%. Analysts forecast that Commerzbank AG will post 3.53 earnings per share for the current year.
Institutional Investors Weigh In On Commerzbank
An institutional investor recently raised its stake in Commerzbank stock. Rhumbline Advisers raised its stake in Commerzbank AG (OTCMKTS:CRZBY – Free Report) by 22.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,876 shares of the financial services provider’s stock after acquiring an additional 1,252 shares during the period. Rhumbline Advisers’ holdings in Commerzbank were worth $260,000 as of its most recent SEC filing.
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.