Commerzbank (OTCMKTS:CRZBY) Stock Crosses Below 50-Day Moving Average – Here’s What Happened

Commerzbank AG (OTCMKTS:CRZBY)’s share price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $41.28 and traded as low as $39.57. Commerzbank shares last traded at $39.99, with a volume of 47,838 shares traded.

Analyst Ratings Changes

Several equities research analysts have commented on CRZBY shares. Deutsche Bank Aktiengesellschaft upgraded shares of Commerzbank from a “hold” rating to a “buy” rating in a research note on Monday, November 10th. The Goldman Sachs Group raised Commerzbank from a “sell” rating to a “neutral” rating in a research report on Thursday, December 4th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold”.

Commerzbank Trading Up 0.3%

The stock’s 50-day moving average price is $41.28 and its two-hundred day moving average price is $39.01. The stock has a market capitalization of $42.95 billion, a P/E ratio of 17.68 and a beta of 0.36.

Commerzbank (OTCMKTS:CRZBY) last posted its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). Commerzbank had a return on equity of 7.29% and a net margin of 11.03%.The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.46 billion. On average, equities research analysts predict that Commerzbank AG will post 1.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Yousif Capital Management LLC grew its stake in shares of Commerzbank by 8.0% during the 2nd quarter. Yousif Capital Management LLC now owns 15,644 shares of the financial services provider’s stock worth $492,000 after acquiring an additional 1,165 shares during the period. GAMMA Investing LLC raised its stake in Commerzbank by 5.6% in the 4th quarter. GAMMA Investing LLC now owns 5,113 shares of the financial services provider’s stock valued at $217,000 after acquiring an additional 272 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Commerzbank by 22.3% during the third quarter. Rhumbline Advisers now owns 6,876 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 1,252 shares during the last quarter.

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.