Commerzbank (OTCMKTS:CRZBY) Hits New 52-Week High – Should You Buy?

Shares of Commerzbank AG (OTCMKTS:CRZBY) reached a new 52-week high during trading on Tuesday . The stock traded as high as $32.50 and last traded at $32.35, with a volume of 43548 shares traded. The stock had previously closed at $32.05.

Analysts Set New Price Targets

Several research firms have recently commented on CRZBY. Royal Bank of Canada restated a “sector perform” rating on shares of Commerzbank in a research note on Monday, May 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Commerzbank in a report on Thursday, April 24th. Morgan Stanley reiterated an “overweight” rating on shares of Commerzbank in a report on Monday, May 19th. Finally, Citigroup reiterated a “neutral” rating on shares of Commerzbank in a report on Thursday, May 22nd.

Commerzbank Stock Performance

The stock’s fifty day moving average price is $27.65 and its 200-day moving average price is $22.32. The firm has a market cap of $38.32 billion, a PE ratio of 16.94 and a beta of 0.73.

Commerzbank (OTCMKTS:CRZBY) last posted its earnings results on Friday, May 9th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.01. Commerzbank had a net margin of 8.55% and a return on equity of 6.33%. The firm had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $2.96 billion. Sell-side analysts forecast that Commerzbank AG will post 1.96 earnings per share for the current fiscal year.

Commerzbank Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 20th were issued a dividend of $0.5056 per share. This is an increase from Commerzbank’s previous dividend of $0.26. This represents a yield of 1.75%. The ex-dividend date was Monday, May 19th. Commerzbank’s dividend payout ratio (DPR) is 26.70%.

Hedge Funds Weigh In On Commerzbank

A hedge fund recently raised its stake in Commerzbank stock. GAMMA Investing LLC raised its holdings in shares of Commerzbank AG (OTCMKTS:CRZBY) by 5,022.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,757 shares of the financial services provider’s stock after acquiring an additional 92,907 shares during the quarter. GAMMA Investing LLC’s holdings in Commerzbank were worth $2,160,000 as of its most recent filing with the Securities and Exchange Commission.

About Commerzbank

Commerzbank AG provides banking and capital market products and services to private and small business customers, corporate, financial service providers, and institutional clients in Germany, rest of Europe, the Americas, Asia, and internationally. It operates through two segments, Private and Small-Business Customers, and Corporate Clients.