Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY) Sees Significant Drop in Short Interest

Key Points

• Commonwealth Bank of Australia saw a significant decrease in short interest, dropping by 67.9% from 7,800 shares to 2,500 shares in August.
• Zacks Research downgraded the bank's rating from "strong-buy" to "hold", contributing to a current consensus rating of "hold".
• The bank announced a new dividend of $1.6817 to be paid on October 9th, reflecting a positive increase from the previous dividend of $1.41.

Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY - Get Free Report) was the target of a large decrease in short interest during the month of August. As of August 15th, there was short interest totaling 2,500 shares, adecreaseof67.9% from the July 31st total of 7,800 shares. Based on an average trading volume of 56,800 shares, the days-to-cover ratio is presently 0.0 days. Based on an average trading volume of 56,800 shares, the days-to-cover ratio is presently 0.0 days.

Analyst Ratings Changes

Separately, Zacks Research lowered Commonwealth Bank of Australia from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Commonwealth Bank of Australia currently has a consensus rating of "Hold".

Commonwealth Bank of Australia Trading Down 0.7%

Shares of Commonwealth Bank of Australia stock opened at $110.60 on Wednesday. Commonwealth Bank of Australia has a 12 month low of $85.22 and a 12 month high of $127.74. The business's 50-day moving average price is $115.21 and its 200-day moving average price is $107.85.

Commonwealth Bank of Australia Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, August 26th will be issued a $1.6817 dividend. This represents a dividend yield of 282.0%. The ex-dividend date 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.

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