Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY) Short Interest Down 38.5% in September

Key Points

• Commonwealth Bank of Australia Sponsored ADR experienced a significant 38.5% decline in short interest during September, with totals dropping from 3,900 to 2,400 shares.
• The bank's stock is currently rated as a "Hold" following a downgrade from Zacks Research, with one analyst recommending holding the shares.
• Commonwealth Bank of Australia announced an increased dividend of $1.6817 per share, representing a substantial yield, up from the previous dividend of $1.41.

Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY - Get Free Report) was the target of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 2,400 shares, a drop of 38.5% from the August 31st total of 3,900 shares. Based on an average daily trading volume, of 64,100 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily trading volume, of 64,100 shares, the days-to-cover ratio is currently 0.0 days.

Analysts Set New Price Targets

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

Commonwealth Bank of Australia Stock Up 0.7%

Shares of OTCMKTS CMWAY traded up $0.74 during mid-day trading on Friday, hitting $112.81. The company had a trading volume of 40,258 shares, compared to its average volume of 36,091. Commonwealth Bank of Australia has a 1 year low of $85.22 and a 1 year high of $127.74. 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 stock's 50-day moving average price is $111.68 and its 200-day moving average price is $110.10.

Commonwealth Bank of Australia Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, August 26th will be paid a dividend of $1.6817 per share. 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 of this dividend is Monday, August 25th.

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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