Commerzbank (OTCMKTS:CRZBY) Shares Gap Up - Here's Why

Key Points

• Shares gapped up pre-market, opening at $39.70 after a prior close of $37.05 and last trading around $39.62 on light volume.
• Commerzbank reported an EPS beat of $0.72 vs. $0.58 expected but missed on revenue ($3.03B vs. $3.61B), while analysts project about $1.96 EPS for the fiscal year.
• Several firms have recently upgraded the stock (including Keefe, Bruyette & Woods and Zacks), leaving the consensus rating at Moderate Buy, and institutional interest rose as Rhumbline Advisers increased its stake by 22.3%.

Shares of Commerzbank AG (OTCMKTS:CRZBY - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $37.05, but opened at $39.70. Commerzbank shares last traded at $39.6150, with a volume of 3,179 shares.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CRZBY. Keefe, Bruyette & Woods raised shares of Commerzbank from a "hold" rating to a "moderate buy" rating in a research note on Thursday, March 26th. DZ Bank upgraded shares of Commerzbank from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 11th. Zacks Research upgraded shares of Commerzbank from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 17th. Finally, The Goldman Sachs Group reiterated a "neutral" rating on shares of Commerzbank in a report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy".

Commerzbank Stock Performance

The firm has a market cap of $44.84 billion, a P/E ratio of 17.14 and a beta of 0.47. The firm's fifty day moving average price is $38.47 and its 200 day moving average price is $38.83.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Commerzbank stock. Rhumbline Advisers grew its holdings in shares of Commerzbank AG (OTCMKTS:CRZBY - Free Report) by 22.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,876 shares of the financial services provider's stock after purchasing an additional 1,252 shares during the period. Rhumbline Advisers' holdings in Commerzbank were worth $260,000 at the end of the most recent quarter.

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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