Commerzbank (OTCMKTS:CRZBY) Upgraded to Hold at DZ Bank

DZ Bank upgraded shares of Commerzbank (OTCMKTS:CRZBY) from a strong sell rating to a hold rating in a research note released on Wednesday,Zacks.com reports.

A number of other research firms have also weighed in on CRZBY. Deutsche Bank Aktiengesellschaft raised shares of Commerzbank from a “hold” rating to a “buy” rating in a research report on Monday, November 10th. The Goldman Sachs Group upgraded Commerzbank from a “sell” rating to a “neutral” rating in a report on Thursday, December 4th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Commerzbank currently has a consensus rating of “Hold”.

Commerzbank Stock Down 1.0%

OTCMKTS CRZBY opened at $40.57 on Wednesday. Commerzbank has a 52 week low of $19.92 and a 52 week high of $44.85. The firm has a market capitalization of $43.42 billion, a price-to-earnings ratio of 17.87 and a beta of 0.36. The company has a fifty day moving average of $41.43 and a two-hundred day moving average of $39.24.

Institutional Trading of Commerzbank

Several institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers grew its stake in Commerzbank by 22.3% in the third quarter. Rhumbline Advisers now owns 6,876 shares of the financial services provider’s stock worth $260,000 after purchasing an additional 1,252 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in shares of Commerzbank by 8.0% in the 2nd quarter. Yousif Capital Management LLC now owns 15,644 shares of the financial services provider’s stock worth $492,000 after buying an additional 1,165 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Commerzbank by 18.1% during the 3rd quarter. GAMMA Investing LLC now owns 4,841 shares of the financial services provider’s stock worth $183,000 after buying an additional 741 shares in the last 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.