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

Key Points

• Shares gapped down — Commerzbank opened at $40.94 after closing at $43.05, trading down about 2.1% with roughly 10,788 shares changing hands.
• Analyst sentiment is mixed but favorable overall: five analysts rate the stock a Buy and five a Hold, giving an average rating of “Moderate Buy”, with recent upgrades from Barclays, Keefe, Bruyette & Woods and RBC.
• Quarterly results showed an EPS beat ($0.72 vs. $0.58 consensus) but a revenue shortfall ($3.03B vs. $3.61B expected); the bank has a market cap of $45.74B and a P/E of 17.48.

Commerzbank AG (OTCMKTS:CRZBY - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $43.05, but opened at $40.94. Commerzbank shares last traded at $40.9550, with a volume of 10,788 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Commerzbank in a research note on Thursday, April 16th. Barclays raised Commerzbank from an "equal weight" rating to an "overweight" rating in a research note on Monday. The Goldman Sachs Group reissued a "neutral" rating on shares of Commerzbank in a research note on Monday, February 23rd. Keefe, Bruyette & Woods raised Commerzbank from a "hold" rating to a "moderate buy" rating in a research note on Thursday, March 26th. Finally, Royal Bank Of Canada raised Commerzbank from a "hold" rating to a "moderate buy" rating in a research note on Tuesday. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy".

Commerzbank Stock Down 2.1%

The company has a debt-to-equity ratio of 14.97, a current ratio of 15.43 and a quick ratio of 15.42. The company has a market capitalization of $45.74 billion, a P/E ratio of 17.48 and a beta of 0.47. The company has a 50 day moving average of $38.44 and a 200-day moving average of $39.07.

Commerzbank (OTCMKTS:CRZBY - Get Free Report) last posted its earnings results on Wednesday, March 25th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The company 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%. As a group, equities analysts anticipate that Commerzbank AG will post 3.44 EPS for the current year.

Institutional Trading of Commerzbank

An institutional investor recently raised its position in Commerzbank stock. Rhumbline Advisers boosted its stake in Commerzbank AG (OTCMKTS:CRZBY - Free Report) by 14.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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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