Commerzbank (OTCMKTS:CRZBY) Hits New 12-Month High – Here’s Why

Commerzbank AG (OTCMKTS:CRZBY)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $46.45 and last traded at $46.45, with a volume of 213 shares traded. The stock had previously closed at $45.36.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. DZ Bank raised Commerzbank from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Citigroup reissued a “neutral” rating on shares of Commerzbank in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Commerzbank in a report on Tuesday, May 12th. Finally, Commerzbank raised Commerzbank from an “overweight” rating to a “buy” rating in a report on Tuesday, May 12th. One investment 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Commerzbank Stock Performance

The stock has a market capitalization of $50.91 billion, a PE ratio of 15.27 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. The firm has a 50 day moving average of $43.67 and a 200-day moving average of $41.35.

Institutional Inflows and Outflows

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

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.