Commerzbank (OTCMKTS:CRZBY) Issues Earnings Results, Beats Expectations By $0.14 EPS

Commerzbank (OTCMKTS:CRZBY) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14, Zacks reports. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.61 billion. Commerzbank had a return on equity of 7.38% and a net margin of 11.02%.

Commerzbank Price Performance

CRZBY stock traded down $0.64 during midday trading on Friday, hitting $35.64. The stock had a trading volume of 32,268 shares, compared to its average volume of 47,633. The business has a 50-day moving average of $39.27 and a two-hundred day moving average of $38.92. The firm has a market cap of $40.18 billion, a price-to-earnings ratio of 15.36 and a beta of 0.37. Commerzbank has a 52-week low of $21.80 and a 52-week high of $44.85.

Wall Street Analysts Forecast Growth

CRZBY has been the subject of several research reports. Zacks Research upgraded shares of Commerzbank from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 17th. DZ Bank upgraded shares of Commerzbank from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. Finally, The Goldman Sachs Group restated a “neutral” rating on shares of Commerzbank in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Institutional Trading of Commerzbank

An institutional investor recently raised its position in Commerzbank stock. Rhumbline Advisers lifted its stake in Commerzbank AG (OTCMKTS:CRZBY) by 22.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,876 shares of the financial services provider’s stock after purchasing an additional 1,252 shares during the quarter. Rhumbline Advisers’ holdings in Commerzbank were worth $260,000 as of its most recent filing with the Securities and Exchange Commission (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.