Commerzbank (OTCMKTS:CRZBY) Shares Gap Up – Still a Buy?

Shares of Commerzbank AG (OTCMKTS:CRZBY) gapped up before the market opened on Tuesday. The stock had previously closed at $42.2680, but opened at $45.1401. Commerzbank shares last traded at $45.10, with a volume of 1,635 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup reiterated a “neutral” rating on shares of Commerzbank in a research report on Monday, September 28th. Deutsche Bank Aktiengesellschaft downgraded Commerzbank from a “buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Royal Bank Of Canada lowered Commerzbank from a “moderate buy” rating to a “hold” rating in a report on Friday, October 2nd. Finally, DZ Bank cut Commerzbank from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 5th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Commerzbank Stock Up 0.9%

The company has a debt-to-equity ratio of 1.62, a quick ratio of 12.24 and a current ratio of 0.45. The firm has a market capitalization of $47.18 billion, a PE ratio of 13.50 and a beta of 0.60. The company’s 50 day simple moving average is $44.91 and its 200-day simple moving average is $42.38.

Institutional Investors Weigh In On Commerzbank

An institutional investor recently bought a new stake in Commerzbank stock. Canopy Partners LLC acquired a new stake in shares of Commerzbank AG (OTCMKTS:CRZBY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,570 shares of the financial services provider’s stock, valued at approximately $207,000.

About Commerzbank

Commerzbank AG is a German banking group headquartered in Frankfurt. Founded in Hamburg in 1870, it provides financial services to individuals, small and midsize businesses, and corporate clients.

Its services include checking and savings accounts, payments, lending, investment and securities services, and financing for businesses. For corporate customers, the bank also offers services such as trade finance, cash management, and support for international business activities.

Commerzbank’s business is centered on Germany, with operations and services in other markets, including through its Polish subsidiary mBank.