Commerzbank (OTCMKTS:CRZBY) Stock Crosses Below 200 Day Moving Average Following Analyst Downgrade

Commerzbank AG (OTCMKTS:CRZBY)’s stock price passed below its two hundred day moving average during trading on Friday after DZ Bank downgraded the stock from a strong-buy rating to a hold rating. The stock has a two hundred day moving average of $42.35 and traded as low as $42.18. Commerzbank shares last traded at $42.18, with a volume of 22,121 shares traded.

CRZBY has been the subject of several other research reports. Citigroup reissued a “neutral” rating on shares of Commerzbank in a research report on Monday, September 28th. Royal Bank Of Canada downgraded shares of Commerzbank from a “moderate buy” rating to a “hold” rating in a report on Friday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Commerzbank from a “buy” rating to a “hold” rating in a report on Tuesday, September 29th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Commerzbank stock. Canopy Partners LLC acquired a new stake in Commerzbank AG (OTCMKTS:CRZBY) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,570 shares of the financial services provider’s stock, valued at approximately $207,000.

Commerzbank Stock Performance

The company’s 50-day simple moving average is $44.95 and its 200 day simple moving average is $42.35. The company has a current ratio of 0.45, a quick ratio of 12.24 and a debt-to-equity ratio of 1.62. The stock has a market cap of $44.28 billion, a P/E ratio of 12.67 and a beta of 0.60.

Commerzbank (OTCMKTS:CRZBY) last released its earnings results on Thursday, November 5th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. Commerzbank had a return on equity of 9.66% and a net margin of 14.39%. As a group, sell-side analysts expect that Commerzbank AG will post 3.42 EPS for the current fiscal year.

About Commerzbank

Commerzbank AG is a German banking group headquartered in Frankfurt. Founded in Hamburg in 1870, it provides financial services to individuals, small and midsize businesses, and corporate clients.

Its services include checking and savings accounts, payments, lending, investment and securities services, and financing for businesses. For corporate customers, the bank also offers services such as trade finance, cash management, and support for international business activities.

Commerzbank’s business is centered on Germany, with operations and services in other markets, including through its Polish subsidiary mBank.