Commonwealth Bank of Australia (OTCMKTS:CMWAY) Trading Down 0.3% - Time to Sell?

Key Points

• Commonwealth Bank of Australia's share price fell by 0.3% on Monday, closing at $112.49, with trading volume declining 24% from the average.
• Zacks Research downgraded the stock from a "strong-buy" rating to a "hold" rating, contributing to a current average rating of "Hold."
• The bank announced an increased dividend of $1.6817 per share, marking a rise from the previous $1.41, reflecting a dividend yield of 282.0% set to be paid on October 9th.

Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY - Get Free Report)'s share price traded down 0.3% during trading on Monday . The company traded as low as $112.01 and last traded at $112.49. 27,976 shares were traded during mid-day trading, a decline of 24% from the average session volume of 36,761 shares. The stock had previously closed at $112.81.

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 report on Monday, August 18th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold".

Commonwealth Bank of Australia Price Performance

The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.18. The company has a fifty day moving average of $111.66 and a two-hundred day moving average of $110.38.

Commonwealth Bank of Australia Increases Dividend

The business also recently declared a dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, August 26th will be issued a dividend of $1.6817 per share. This is a boost from Commonwealth Bank of Australia's previous dividend of $1.41. This represents a dividend yield of 282.0%. The ex-dividend date of this dividend is Monday, August 25th.

Commonwealth Bank of Australia Company Profile

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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