Commerzbank (OTCMKTS:CRZBY) Downgraded to Hold Rating by Zacks Research

Zacks Research downgraded shares of Commerzbank (OTCMKTS:CRZBY) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks.com reports.

Several other research analysts also recently commented on CRZBY. DZ Bank raised Commerzbank from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. The Goldman Sachs Group restated a “neutral” rating on shares of Commerzbank in a research report on Monday, February 23rd. Finally, Keefe, Bruyette & Woods upgraded shares of Commerzbank from a “hold” rating to a “moderate buy” rating in a research report on Thursday, March 26th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Commerzbank Stock Performance

CRZBY stock remained flat at $41.56 during midday trading on Monday. 18,831 shares of the company traded hands, compared to its average volume of 61,513. The firm has a market capitalization of $46.86 billion, a price-to-earnings ratio of 17.91 and a beta of 0.47. The company’s fifty day moving average is $38.38 and its two-hundred day moving average is $38.92. Commerzbank has a 52 week low of $25.47 and a 52 week high of $44.85.

Commerzbank (OTCMKTS:CRZBY) last released its quarterly earnings results on Wednesday, March 25th. The financial services provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.61 billion. Commerzbank had a net margin of 11.02% and a return on equity of 7.38%. Sell-side analysts anticipate that Commerzbank will post 1.96 EPS for the current year.

Institutional Investors Weigh In On Commerzbank

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