Commonwealth Bank of Australia (OTCMKTS:CMWAY) Trading 6.2% Higher – Should You Buy?

Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY) shot up 6.2% on Wednesday . The stock traded as high as $122.62 and last traded at $121.00. 5,934 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 57,452 shares. The stock had previously closed at $113.96.

Analyst Ratings Changes

Separately, Zacks Research upgraded Commonwealth Bank of Australia from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Commonwealth Bank of Australia presently has an average rating of “Moderate Buy” and an average target price of $130.18.

Commonwealth Bank of Australia Stock Up 0.0%

The company has a current ratio of 1.08, a quick ratio of 1.10 and a debt-to-equity ratio of 2.19. The stock has a 50-day moving average price of $106.09 and a 200-day moving average price of $108.43.

Commonwealth Bank of Australia Company Profile

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.