Commerzbank AG (OTCMKTS:CRZBY – Get Free Report)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $44.89 and last traded at $44.6068, with a volume of 3350 shares trading hands. The stock had previously closed at $43.34.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on CRZBY. Barclays upgraded Commerzbank from an “equal weight” rating to an “overweight” rating in a research report on Monday, April 20th. DZ Bank raised shares of Commerzbank from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Citigroup reaffirmed a “neutral” rating on shares of Commerzbank in a research report on Monday, May 18th. Royal Bank Of Canada upgraded Commerzbank from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, April 21st. Finally, Zacks Research lowered Commerzbank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.
Read Our Latest Stock Report on Commerzbank
Commerzbank Trading Up 3.2%
Commerzbank (OTCMKTS:CRZBY – Get Free Report) last released its earnings results on Friday, May 8th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.11. The company had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Commerzbank had a net margin of 11.55% and a return on equity of 7.69%. Equities analysts expect that Commerzbank AG will post 3.44 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
An institutional investor recently raised its stake in Commerzbank stock. Rhumbline Advisers grew its holdings in shares of Commerzbank AG (OTCMKTS:CRZBY – Free Report) by 22.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,876 shares of the financial services provider’s stock after purchasing an additional 1,252 shares during the quarter. Rhumbline Advisers’ holdings in Commerzbank were worth $260,000 at the end of the most recent quarter.
About Commerzbank
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.
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