Commonwealth Bank of Australia (OTCMKTS:CMWAY) Shares Gap Up - Time to Buy?

Key Points

• The shares of Commonwealth Bank of Australia gapped up from $109.54 to $114.06 prior to trading on Friday, with a trading volume of 227 shares.
• Zacks Research has downgraded the stock's rating from "strong-buy" to "hold", with the consensus rating remaining a "Hold."
• Commonwealth Bank of Australia announced an increase in its dividend to $1.6817 per share, payable on October 9th, up from the previous dividend of $1.41.

Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $109.54, but opened at $114.06. Commonwealth Bank of Australia shares last traded at $114.06, with a volume of 227 shares.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut shares of 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, According to MarketBeat.com, the stock currently has a consensus rating of "Hold".

Commonwealth Bank of Australia Price Performance

The company has a debt-to-equity ratio of 2.18, a current ratio of 1.10 and a quick ratio of 1.10. The company has a 50-day moving average price of $112.84 and a 200 day moving average price of $108.96.

Commonwealth Bank of Australia Increases Dividend

The business also recently declared a dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, August 26th will be given a $1.6817 dividend. This represents a dividend yield of 282.0%. The ex-dividend date of this dividend is Monday, August 25th. This is a positive change 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.