Commerzbank (OTCMKTS:CRZBY) Shares Gap Down - Here's What Happened

Key Points

• Shares gapped down: Commerzbank opened at $34.39 after a prior close of $36.27, with 3,696 shares traded in the early session.
• Earnings mixed: The bank reported $0.72 EPS (beat vs. $0.58 estimate) but revenue of $3.03 billion missed forecasts of $3.61 billion; analysts forecast ~1.96 EPS for the year.
• Analyst sentiment moderate: MarketBeat shows a consensus rating of "Moderate Buy", following recent upgrades (Zacks to Strong-Buy; DZ Bank to Hold) and a mix of 1 Strong Buy, 2 Buy and 5 Hold ratings.

Shares of Commerzbank AG (OTCMKTS:CRZBY - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $36.27, but opened at $34.39. Commerzbank shares last traded at $34.39, with a volume of 3,696 shares changing hands.

Wall Street Analysts Forecast Growth

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

Commerzbank Price Performance

The company has a market cap of $38.80 billion, a PE ratio of 14.83 and a beta of 0.37. The firm has a 50-day simple moving average of $39.16 and a two-hundred day simple moving average of $38.90.

Commerzbank (OTCMKTS:CRZBY - Get Free Report) last posted its quarterly earnings data on Wednesday, March 25th. The financial services provider reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.14. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.61 billion. Commerzbank had a return on equity of 7.38% and a net margin of 11.02%. Equities research analysts forecast that Commerzbank AG will post 1.96 EPS for the current year.

Institutional Investors Weigh In On Commerzbank

An institutional investor recently raised its position in Commerzbank stock. Rhumbline Advisers increased its position in Commerzbank AG (OTCMKTS:CRZBY - Free Report) by 22.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,876 shares of the financial services provider's stock after buying an additional 1,252 shares during the period. Rhumbline Advisers' holdings in Commerzbank were worth $260,000 as of its most recent SEC filing.

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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