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

Key Points

• Short interest in Commonwealth Bank of Australia declined by 24.3%, with total short interest at 7,800 shares as of July 31st.
• The company announced an increase in its dividend to $1.6817 per share, representing a dividend yield of 282.0% and payable on October 9th.
• Analysts have revised their ratings, with Zacks Research lowering its rating from "strong-buy" to "hold", leading to a consensus rating of "Hold" for the stock.

Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY - Get Free Report) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 7,800 shares, adropof24.3% from the July 15th total of 10,300 shares. Currently,0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 54,500 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 54,500 shares, the days-to-cover ratio is currently 0.1 days. Currently,0.0% of the shares of the company are sold short.

Commonwealth Bank of Australia Price Performance

Shares of OTCMKTS:CMWAY traded down $3.63 during trading on Monday, hitting $110.35. 23,009 shares of the stock were exchanged, compared to its average volume of 56,277. Commonwealth Bank of Australia has a 1-year low of $85.22 and a 1-year high of $127.74. The company's fifty day simple moving average is $116.22 and its 200-day simple moving average is $107.51.

Commonwealth Bank of Australia Increases Dividend

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

Analysts Set New Price Targets

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 analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold".

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.