Commerzbank (OTCMKTS:CRZBY) Shares Gap Up – Here’s Why

Commerzbank AG (OTCMKTS:CRZBY) shares gapped up before the market opened on Thursday . The stock had previously closed at $37.05, but opened at $39.70. Commerzbank shares last traded at $39.6150, with a volume of 3,179 shares changing hands.

Analyst Ratings Changes

CRZBY has been the topic of several research analyst reports. The Goldman Sachs Group reissued a “neutral” rating on shares of Commerzbank in a research report on Monday, February 23rd. Keefe, Bruyette & Woods raised shares of Commerzbank from a “hold” rating to a “moderate buy” rating in a research report on Thursday, March 26th. DZ Bank raised shares of Commerzbank from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. Finally, Zacks Research raised shares of Commerzbank from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Commerzbank Stock Down 1.0%

The stock’s 50-day simple moving average is $38.47 and its two-hundred day simple moving average is $38.83. The company has a market capitalization of $44.84 billion, a price-to-earnings ratio of 17.14 and a beta of 0.47.

Commerzbank (OTCMKTS:CRZBY) last announced its earnings results on Wednesday, March 25th. The financial services provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.61 billion. Commerzbank had a net margin of 11.02% and a return on equity of 7.38%. On average, sell-side analysts forecast that Commerzbank AG will post 1.96 EPS for the current year.

Hedge Funds Weigh In On Commerzbank

An institutional investor recently raised its position in Commerzbank stock. Rhumbline Advisers raised its position in Commerzbank AG (OTCMKTS:CRZBY) by 22.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,876 shares of the financial services provider’s stock after buying an additional 1,252 shares during the quarter. Rhumbline Advisers’ holdings in Commerzbank were worth $260,000 as of its most recent filing with the SEC.

Commerzbank Company Profile

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.