CaixaBank (OTCMKTS:CAIXY) Sees Unusually-High Trading Volume – Still a Buy?

CaixaBank, S.A. Unsponsored ADR (OTCMKTS:CAIXY) saw unusually-high trading volume on Wednesday . Approximately 766,714 shares were traded 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.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Royal Bank Of Canada reiterated a “sector perform” rating on shares of CaixaBank in a research report on Monday, November 3rd. Citigroup reissued a “buy” rating on shares of CaixaBank in a report on Thursday, January 8th. The Goldman Sachs Group upgraded CaixaBank from a “sell” rating to a “hold” rating in a research report on Wednesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of CaixaBank in a report on Thursday, December 4th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

CaixaBank Stock Up 2.7%

The stock’s fifty day simple moving average is $3.88 and its two-hundred day simple moving average is $3.51.

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.