Commerzbank (OTCMKTS:CRZBY) Reaches New 52-Week High – Here’s Why

Commerzbank AG (OTCMKTS:CRZBY) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $46.1550 and last traded at $46.1550, with a volume of 418 shares. The stock had previously closed at $45.43.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Commerzbank in a report on Tuesday, May 12th. Commerzbank upgraded shares of Commerzbank from an “overweight” rating to a “buy” rating in a research report on Tuesday, May 12th. DZ Bank raised Commerzbank from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. Barclays upgraded Commerzbank from an “equal weight” rating to an “overweight” rating in a report on Monday, April 20th. Finally, Royal Bank Of Canada raised Commerzbank from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Commerzbank presently has a consensus rating of “Moderate Buy”.

Commerzbank Stock Down 0.2%

The business’s 50 day simple moving average is $43.31 and its 200-day simple moving average is $41.22. The company has a debt-to-equity ratio of 1.62, a quick ratio of 12.24 and a current ratio of 12.24. The company has a market cap of $50.57 billion, a price-to-earnings ratio of 15.17 and a beta of 0.55.

Institutional Trading of Commerzbank

A hedge fund recently raised its stake in Commerzbank stock. Rhumbline Advisers lifted its holdings in shares of Commerzbank AG (OTCMKTS:CRZBY) by 14.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,140 shares of the financial services provider’s stock after purchasing an additional 650 shares during the quarter. Rhumbline Advisers’ holdings in Commerzbank were worth $117,000 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.