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

Key Points

• Commerzbank reported quarterly EPS of $0.72, beating estimates by $0.14, but revenue of $3.03 billion missed the $3.61 billion consensus; return on equity was 7.38% with a net margin of 11.02%.
• Shares fell about 2.6% to $35.32 after the release; the stock carries a P/E of 15.22 and a market cap near $39.8 billion.
• Analyst consensus is a “Moderate Buy” following several rating changes, and institutional investor Rhumbline Advisers boosted its stake by 14.5% in the quarter.

Commerzbank (OTCMKTS:CRZBY - Get Free Report) released its quarterly earnings data on Wednesday. The financial services provider reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.14, Zacks reports. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.61 billion. Commerzbank had a return on equity of 7.38% and a net margin of 11.02%.

Commerzbank Trading Down 2.6%

Commerzbank stock traded down $0.95 during trading hours on Friday, reaching $35.32. 26,370 shares of the company were exchanged, compared to its average volume of 47,161. Commerzbank has a 12 month low of $21.80 and a 12 month high of $44.85. The stock has a 50-day moving average of $39.27 and a 200 day moving average of $38.92. The firm has a market cap of $39.82 billion, a price-to-earnings ratio of 15.22 and a beta of 0.37.

Analyst Ratings Changes

Several analysts have commented on the stock. The Goldman Sachs Group reissued a "neutral" rating on shares of Commerzbank in a research report on Monday, February 23rd. DZ Bank raised shares of Commerzbank from a "strong sell" rating to a "hold" rating in a research note on Wednesday, February 11th. Finally, Zacks Research upgraded shares of Commerzbank from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 17th. One investment 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

Institutional Trading of Commerzbank

A hedge fund recently raised its stake in Commerzbank stock. Rhumbline Advisers increased its position in shares of Commerzbank AG (OTCMKTS:CRZBY - Free Report) by 14.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,140 shares of the financial services provider's stock after buying an additional 650 shares during the period. Rhumbline Advisers' holdings in Commerzbank were worth $117,000 at the end of the most recent reporting period.

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.

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