Commerzbank (OTCMKTS:CRZBY) Hits New 1-Year High – Here’s What Happened

Commerzbank AG (OTCMKTS:CRZBY) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $44.89 and last traded at $44.6068, with a volume of 3350 shares. The stock had previously closed at $43.34.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CRZBY shares. Commerzbank raised Commerzbank from an “overweight” rating to a “buy” rating in a research note on Tuesday, May 12th. DZ Bank upgraded shares of Commerzbank from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Barclays raised Commerzbank from an “equal weight” rating to an “overweight” rating in a research note on Monday, April 20th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Commerzbank in a research note on Tuesday, May 12th. Finally, Royal Bank Of Canada upgraded Commerzbank from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, April 21st. One research 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Commerzbank Price Performance

The stock has a 50-day simple moving average of $42.80 and a 200 day simple moving average of $40.91. The company has a market cap of $49.06 billion, a P/E ratio of 17.68 and a beta of 0.55. The company has a debt-to-equity ratio of 1.62, a quick ratio of 12.24 and a current ratio of 12.24.

Commerzbank (OTCMKTS:CRZBY) last announced its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.11. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.83 billion. Commerzbank had a net margin of 11.55% and a return on equity of 7.69%. On average, equities analysts expect that Commerzbank AG will post 3.44 EPS for the current year.

Hedge Funds Weigh In On Commerzbank

A hedge fund recently raised its position in Commerzbank stock. Rhumbline Advisers grew its position in Commerzbank AG (OTCMKTS:CRZBY) by 14.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,140 shares of the financial services provider’s stock after acquiring an additional 650 shares during the period. Rhumbline Advisers’ holdings in Commerzbank were worth $117,000 at the end of the most recent quarter.

Commerzbank Company Profile

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.