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

Key Points

• Commonwealth Bank of Australia Sponsored ADR experienced a significant increase in short interest, rising by 329.2% in September, with total short interest reaching 10,300 shares.
• The bank has recently increased its dividend to $1.6817 from the previous $1.41, representing a yield of 282.0%.
• Analysts have mixed views on the bank's stock, with Goldman Sachs setting a price target of $130.18 and giving it a "sell" rating, while Zacks Research downgraded it to a "hold" rating.

Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY - Get Free Report) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 10,300 shares, a growth of 329.2% from the September 15th total of 2,400 shares. Based on an average daily volume of 78,400 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 78,400 shares, the days-to-cover ratio is currently 0.1 days.

Commonwealth Bank of Australia Price Performance

Shares of OTCMKTS:CMWAY traded up $0.87 during midday trading on Friday, reaching $109.39. The company had a trading volume of 35,014 shares, compared to its average volume of 38,412. 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 business's 50 day moving average price is $110.74 and its 200 day moving average price is $111.08. Commonwealth Bank of Australia has a 1-year low of $85.22 and a 1-year high of $127.74.

Commonwealth Bank of Australia Increases Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, October 9th. Shareholders of record on Tuesday, August 26th were paid a $1.6817 dividend. This is a positive change from Commonwealth Bank of Australia's previous dividend of $1.41. This represents a yield of 282.0%. The ex-dividend date was Monday, August 25th.

Analysts Set New Price Targets

Several research firms have issued reports on CMWAY. The Goldman Sachs Group set a $130.18 price target on Commonwealth Bank of Australia and gave the company a "sell" rating in a research note on Wednesday, October 8th. Zacks Research downgraded 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $130.18.

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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