Commerzbank (OTCMKTS:CRZBY) Reaches New 1-Year High After Strong Earnings

Commerzbank AG (OTCMKTS:CRZBY - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday following a stronger than expected earnings report. The company traded as high as $29.14 and last traded at $28.94, with a volume of 74538 shares changing hands. The stock had previously closed at $28.64.

The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.01. Commerzbank had a return on equity of 6.33% and a net margin of 8.55%. The firm had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $2.96 billion.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CRZBY. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Commerzbank in a report on Thursday, April 24th. Morgan Stanley reissued an "overweight" rating on shares of Commerzbank in a research note on Friday, March 7th.

Institutional Trading of Commerzbank

A hedge fund recently raised its stake in Commerzbank stock. GAMMA Investing LLC boosted its position in shares of Commerzbank AG (OTCMKTS:CRZBY - Free Report) by 5,022.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,757 shares of the financial services provider's stock after acquiring an additional 92,907 shares during the period. GAMMA Investing LLC's holdings in Commerzbank were worth $2,160,000 at the end of the most recent quarter.

Commerzbank Price Performance

The firm has a 50 day moving average of $25.53 and a 200-day moving average of $20.42. The stock has a market capitalization of $34.28 billion, a P/E ratio of 15.15 and a beta of 0.68.

Commerzbank Company Profile

Commerzbank AG provides banking and capital market products and services to private and small business customers, corporate, financial service providers, and institutional clients in Germany, rest of Europe, the Americas, Asia, and internationally. It operates through two segments, Private and Small-Business Customers, and Corporate Clients.

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