CaixaBank (OTCMKTS:CAIXY) Sees Large Volume Increase – Still a Buy?

CaixaBank, S.A. Unsponsored ADR (OTCMKTS:CAIXY) shares saw unusually-high trading volume on Wednesday . Approximately 766,714 shares traded hands during mid-day trading, an increase of 124% from the previous session’s volume of 342,631 shares.The stock last traded at $4.10 and had previously closed at $4.05.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CAIXY shares. Royal Bank Of Canada restated a “sector perform” rating on shares of CaixaBank in a research note on Monday, November 3rd. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of CaixaBank in a report on Thursday, December 4th. Finally, Citigroup restated a “buy” rating on shares of CaixaBank in a report on Thursday, January 8th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold”.

CaixaBank Stock Down 0.2%

The business’s fifty day simple moving average is $3.91 and its 200 day simple moving average is $3.52.

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.