CaixaBank (OTCMKTS:CAIXY) Reaches New 1-Year High – Here’s Why

CaixaBank, S.A. Unsponsored ADR (OTCMKTS:CAIXY) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $4.2365 and last traded at $4.1150, with a volume of 131936 shares changing hands. The stock had previously closed at $4.00.

Wall Street Analysts Forecast Growth

CAIXY has been the subject of several research analyst reports. The Goldman Sachs Group raised shares of CaixaBank from a “sell” rating to a “hold” rating in a research note on Wednesday, September 24th. Royal Bank Of Canada reissued a “sector perform” rating on shares of CaixaBank in a report on Monday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of CaixaBank in a research report on Thursday, December 4th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

CaixaBank Trading Up 4.7%

The firm’s 50-day moving average price is $3.64 and its 200-day moving average price is $3.33.

About CaixaBank

CaixaBank (OTCMKTS: CAIXY) is a major Spanish banking group that provides a broad range of financial products and services to retail, corporate and institutional clients. The company’s operations encompass traditional banking activities such as deposit-taking, consumer and mortgage lending, payment and card services, and corporate banking, alongside wealth management, private banking, insurance and asset-management businesses. CaixaBank also offers investment-banking-related services and specialized financing solutions including leasing, factoring and trade finance through its group structure and subsidiaries.

The bank traces its origins to the Catalan savings bank “la Caixa” and has evolved into a commercial banking group through organic growth and strategic acquisitions.