Commerzbank (OTCMKTS:CRZBY) Shares Gap Up – Still a Buy?

Commerzbank AG (OTCMKTS:CRZBY)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $45.73, but opened at $47.30. Commerzbank shares last traded at $47.59, with a volume of 6,097 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CRZBY. DZ Bank raised Commerzbank from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Commerzbank raised Commerzbank from an “overweight” rating to a “buy” rating in a research note on Tuesday, May 12th. Citigroup reiterated a “neutral” rating on shares of Commerzbank in a report on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Commerzbank in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Commerzbank Trading Down 2.5%

The company has a debt-to-equity ratio of 1.62, a current ratio of 12.24 and a quick ratio of 12.24. The firm has a market cap of $50.66 billion, a price-to-earnings ratio of 15.20 and a beta of 0.55. The firm’s fifty day moving average is $43.90 and its 200-day moving average is $41.48.

Institutional Investors Weigh In On Commerzbank

A hedge fund recently raised its stake in Commerzbank stock. Rhumbline Advisers grew its holdings in shares of Commerzbank AG (OTCMKTS:CRZBY) by 22.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,876 shares of the financial services provider’s stock after buying an additional 1,252 shares during the period. Rhumbline Advisers’ holdings in Commerzbank were worth $260,000 as of its most recent filing with the SEC.

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.