Commerzbank (OTCMKTS:CRZBY) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Commerzbank AG (OTCMKTS:CRZBY) saw unusually-strong trading volume on Thursday . 57,016 shares changed hands during trading, an increase of 17% from the previous session’s volume of 48,659 shares.The stock last traded at $43.2050 and had previously closed at $42.68.

Wall Street Analysts Forecast Growth

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

Commerzbank Price Performance

The stock has a fifty day moving average of $42.57 and a two-hundred day moving average of $40.80. The stock has a market capitalization of $47.30 billion, a price-to-earnings ratio of 17.05 and a beta of 0.53. The company has a current ratio of 12.24, a quick ratio of 12.24 and a debt-to-equity ratio of 1.62.

Commerzbank (OTCMKTS:CRZBY) last posted its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.98 EPS 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 return on equity of 7.69% and a net margin of 11.55%. As a group, equities research analysts forecast that Commerzbank AG will post 3.53 earnings per share for the current year.

Hedge Funds Weigh In On Commerzbank

An institutional investor recently raised its position in Commerzbank stock. Rhumbline Advisers lifted its stake in shares of Commerzbank AG (OTCMKTS:CRZBY) by 22.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Commerzbank Company Profile

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.