Commerzbank (OTCMKTS:CRZBY) Announces Earnings Results, Beats Expectations By $0.14 EPS

Commerzbank (OTCMKTS:CRZBY) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14, Zacks reports. The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.61 billion. Commerzbank had a return on equity of 7.38% and a net margin of 11.02%.

Commerzbank Stock Performance

CRZBY traded down $1.00 during midday trading on Friday, reaching $35.28. The company had a trading volume of 29,992 shares, compared to its average volume of 47,582. Commerzbank has a 12-month low of $21.80 and a 12-month high of $44.85. The business has a 50-day moving average price of $39.27 and a two-hundred day moving average price of $38.92. The stock has a market cap of $39.77 billion, a PE ratio of 15.20 and a beta of 0.37.

Analyst Upgrades and Downgrades

CRZBY has been the subject of several analyst reports. Zacks Research upgraded shares of Commerzbank from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 17th. DZ Bank upgraded shares of Commerzbank from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Commerzbank in a research report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Commerzbank currently has an average rating of “Moderate Buy”.

Institutional Investors Weigh In On Commerzbank

A hedge fund recently raised its stake in Commerzbank stock. Rhumbline Advisers boosted its position in Commerzbank AG (OTCMKTS:CRZBY) by 22.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,876 shares of the financial services provider’s stock after purchasing an additional 1,252 shares during the period. Rhumbline Advisers’ holdings in Commerzbank were worth $260,000 as of its most recent SEC filing.

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.