Commerzbank (OTCMKTS:CRZBY) Hits New 12-Month High - Time to Buy?

Key Points

• Commerzbank shares reached a new 52-week high, trading as high as $46.155, up 1.4% from the previous close, with a market capitalization of approximately $50.35 billion.
• Analyst sentiment is generally positive: Barclays, Royal Bank of Canada, and DZ Bank upgraded the stock, while Deutsche Bank maintained a buy rating. MarketBeat data shows a consensus rating of “Moderate Buy” from 10 analysts.
• Rhumbline Advisers increased its Commerzbank position by 14.5% during the first quarter, ending with a 5,140-share stake valued at about $117,000.

Commerzbank AG (OTCMKTS:CRZBY - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $46.1550 and last traded at $46.1550, with a volume of 418 shares traded. The stock had previously closed at $45.43.

Wall Street Analyst Weigh In

A number of analysts have commented on CRZBY shares. Barclays raised shares of Commerzbank from an "equal weight" rating to an "overweight" rating in a research report on Monday, April 20th. Royal Bank Of Canada upgraded Commerzbank from a "hold" rating to a "moderate buy" rating in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Commerzbank in a research note on Tuesday, May 12th. DZ Bank upgraded shares of Commerzbank from a "hold" rating to a "strong-buy" rating in a report on Monday, May 11th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Commerzbank in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy".

Commerzbank Stock Up 1.4%

The company has a market capitalization of $50.35 billion, a PE ratio of 15.10 and a beta of 0.55. The stock's fifty day moving average is $43.17 and its two-hundred day moving average is $41.15. The company has a current ratio of 12.24, a quick ratio of 12.24 and a debt-to-equity ratio of 1.62.

Hedge Funds Weigh In On Commerzbank

An institutional investor recently raised its stake in Commerzbank stock. Rhumbline Advisers boosted its position in Commerzbank AG (OTCMKTS:CRZBY - Free Report) by 14.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,140 shares of the financial services provider's stock after buying an additional 650 shares during the quarter. Rhumbline Advisers' holdings in Commerzbank were worth $117,000 as of its most recent filing with the Securities and Exchange Commission (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.

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