Commonwealth Bank of Australia (OTCMKTS:CMWAY) Shares Gap Up - Here's What Happened

Key Points

• Commonwealth Bank of Australia (OTCMKTS:CMWAY) shares experienced a significant gap up, opening at $116.48 after closing at $109.39, and last traded at $112.20.
• The bank recently increased its dividend to $1.6817 per share from the previous $1.41, reflecting a substantial dividend yield of 282.0%.
• Analysts have mixed ratings on the stock, with Goldman Sachs setting a target price of $130.18 and suggesting a "sell" rating, while Zacks Research downgraded it from "strong-buy" to "hold."

Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $109.39, but opened at $116.48. Commonwealth Bank of Australia shares last traded at $112.20, with a volume of 1,019 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. The Goldman Sachs Group set a $130.18 target price on shares of Commonwealth Bank of Australia and gave the company a "sell" rating in a research report on Wednesday, October 8th. Zacks Research lowered Commonwealth Bank of Australia from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Commonwealth Bank of Australia has an average rating of "Reduce" and a consensus target price of $130.18.

Commonwealth Bank of Australia Price Performance

The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.18. The stock has a 50-day moving average of $110.68 and a 200 day moving average of $111.43.

Commonwealth Bank of Australia Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, October 9th. Stockholders of record on Tuesday, August 26th were given a $1.6817 dividend. The ex-dividend date was Monday, August 25th. This represents a dividend yield of 282.0%. This is an increase from Commonwealth Bank of Australia's previous dividend of $1.41.

About Commonwealth Bank of Australia

Commonwealth Bank of Australia provides financial services in Australia, New Zealand, and internationally. It operates through Retail Banking Services, Business Banking, Institutional Banking and Markets, and New Zealand segments. The company offers transaction, savings, and foreign currency accounts; term deposits; personal and business loans; overdrafts; equipment finance; credit cards; international payment and trade; and private banking services, as well as home and car loans.

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