Commerzbank (OTCMKTS:CRZBY) Shares Gap Down – Here’s Why

Commerzbank AG (OTCMKTS:CRZBY) shares gapped down prior to trading 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.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CRZBY. The Goldman Sachs Group reissued a “neutral” rating on shares of Commerzbank in a research report on Monday, February 23rd. DZ Bank upgraded shares of Commerzbank from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. Keefe, Bruyette & Woods raised shares of Commerzbank from a “hold” rating to a “moderate buy” rating in a report on Thursday, March 26th. Finally, Zacks Research upgraded shares of Commerzbank from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Commerzbank Price Performance

The firm has a market cap of $41.15 billion, a price-to-earnings ratio of 15.73 and a beta of 0.37. The stock has a 50-day moving average price of $38.96 and a 200 day moving average price of $38.85.

Commerzbank (OTCMKTS:CRZBY) last announced its earnings results on Wednesday, March 25th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Commerzbank had a return on equity of 7.38% and a net margin of 11.02%. As a group, equities research analysts predict that Commerzbank AG will post 1.96 earnings per share for the current year.

Hedge Funds Weigh In On Commerzbank

A hedge fund recently raised its stake in Commerzbank stock. Rhumbline Advisers increased its holdings in Commerzbank AG (OTCMKTS:CRZBY) by 22.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,876 shares of the financial services provider’s stock after acquiring an additional 1,252 shares during the quarter. Rhumbline Advisers’ holdings in Commerzbank were worth $260,000 at the end of the most recent quarter.

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.