Commerzbank (OTCMKTS:CRZBY) Shares Gap Up – What’s Next?

Commerzbank AG (OTCMKTS:CRZBY) gapped up prior to trading on Wednesday . The stock had previously closed at $41.61, but opened at $43.77. Commerzbank shares last traded at $44.16, with a volume of 9,360 shares traded.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CRZBY. Citigroup reiterated a “neutral” rating on shares of Commerzbank in a research note on Monday, May 18th. Barclays upgraded shares of Commerzbank from an “equal weight” rating to an “overweight” rating in a research report on Monday, April 20th. Commerzbank upgraded shares of Commerzbank from an “overweight” rating to a “buy” rating in a research report on Tuesday, May 12th. Zacks Research cut shares of Commerzbank from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Royal Bank Of Canada upgraded Commerzbank from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Commerzbank Stock Performance

The company has a current ratio of 12.24, a quick ratio of 12.24 and a debt-to-equity ratio of 1.62. The business’s 50 day moving average is $42.00 and its 200 day moving average is $40.56. The stock has a market capitalization of $48.08 billion, a PE ratio of 17.33 and a beta of 0.51.

Commerzbank (OTCMKTS:CRZBY) last posted its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.11. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.83 billion. Commerzbank had a net margin of 11.55% and a return on equity of 7.69%. On average, equities research analysts predict that Commerzbank AG will post 3.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Commerzbank

A hedge fund recently raised its position in Commerzbank stock. Rhumbline Advisers grew its holdings in Commerzbank AG (OTCMKTS:CRZBY) by 22.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,876 shares of the financial services provider’s stock after purchasing an additional 1,252 shares during the period. Rhumbline Advisers’ holdings in Commerzbank were worth $260,000 as of its most recent filing with the Securities & Exchange Commission.

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.