Commonwealth Bank of Australia (OTCMKTS:CMWAY) Shares Gap Up – Still a Buy?

Shares of Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY) gapped up before the market opened on Thursday . The stock had previously closed at $114.50, but opened at $127.00. Commonwealth Bank of Australia shares last traded at $126.57, with a volume of 990 shares traded.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised Commonwealth Bank of Australia from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Commonwealth Bank of Australia has a consensus rating of “Moderate Buy” and a consensus price target of $130.18.

Commonwealth Bank of Australia Price Performance

The stock has a fifty day simple moving average of $105.61 and a 200-day simple moving average of $108.31. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.10 and a current ratio of 1.10.

About Commonwealth Bank of Australia

Commonwealth Bank of Australia is one of Australia’s largest banking and financial services organizations, offering a broad range of products for individual, business and institutional customers. Established by the federal government in 1911, the group has grown into a diversified financial services company that provides everyday banking, lending, payments, wealth management and insurance solutions. The company’s securities are listed on the Australian Securities Exchange and it also has American Depositary Receipts trading OTC under the symbol CMWAY.

Core activities include retail and business banking—deposit accounts, transaction services, mortgages, credit cards and personal and commercial lending—alongside institutional banking services such as corporate finance, markets and transaction banking.