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

Commerzbank AG (OTCMKTS:CRZBY) shares gapped up prior to trading on Wednesday . The stock had previously closed at $45.73, but opened at $47.30. Commerzbank shares last traded at $47.59, with a volume of 6,097 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CRZBY. Citigroup reaffirmed a “neutral” rating on shares of Commerzbank in a research report on Monday, August 10th. Commerzbank raised shares of Commerzbank from an “overweight” rating to a “buy” rating in a research report on Tuesday, May 12th. DZ Bank upgraded shares of Commerzbank from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Commerzbank in a report on Tuesday, May 12th. One equities research 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Commerzbank Price Performance

The stock has a 50-day simple moving average of $43.77 and a 200 day simple moving average of $41.38. The company has a debt-to-equity ratio of 1.62, a quick ratio of 12.24 and a current ratio of 12.24. The company has a market cap of $52.08 billion, a P/E ratio of 15.62 and a beta of 0.55.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Commerzbank stock. Rhumbline Advisers increased its position in Commerzbank AG (OTCMKTS:CRZBY) by 22.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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.