Commerzbank AG (OTCMKTS:CRZBY) Sees Significant Drop in Short Interest

Key Points

• Short interest fell sharply: Commerzbank’s short interest dropped 47.3% to 2,437 shares as of August 14, representing virtually 0% of shares outstanding and just 0.1 days to cover.
• Shares traded near a 12-month high: The stock rose to $46.53, compared with a 12-month range of $33.63 to $47.70, while its market capitalization stood at approximately $51.02 billion.
• Analyst sentiment remains positive: Commerzbank has a consensus “Moderate Buy” rating, including one Strong Buy and five Buy ratings versus four Holds; Rhumbline Advisers also increased its stake by 22.3%.

Commerzbank AG (OTCMKTS:CRZBY - Get Free Report) was the target of a significant decrease in short interest in August. As of August 14th, there was short interest totaling 2,437 shares, a decrease of 47.3% from the July 30th total of 4,625 shares. Currently, 0.0% of the company's stock are short sold. Based on an average daily volume of 20,962 shares, the days-to-cover ratio is presently 0.1 days.

Commerzbank Price Performance

Commerzbank stock traded up $0.33 during midday trading on Friday, reaching $46.53. 5,492 shares of the stock traded hands, compared to its average volume of 47,281. The stock has a market cap of $51.02 billion, a P/E ratio of 15.31 and a beta of 0.55. The stock's fifty day moving average is $43.95 and its 200-day moving average is $41.51. The company has a quick ratio of 12.24, a current ratio of 12.24 and a debt-to-equity ratio of 1.62. Commerzbank has a 12 month low of $33.63 and a 12 month high of $47.70.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Commerzbank in a research note on Tuesday, May 12th. Citigroup restated a "neutral" rating on shares of Commerzbank in a research note on Monday, August 10th. Commerzbank upgraded Commerzbank from an "overweight" rating to a "buy" rating in a research note on Tuesday, May 12th. Finally, DZ Bank upgraded shares of Commerzbank from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy".

Institutional Investors Weigh In On Commerzbank

A hedge fund recently raised its stake in Commerzbank stock. Rhumbline Advisers boosted its position in shares of Commerzbank AG (OTCMKTS:CRZBY - Free Report) by 22.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,876 shares of the financial services provider's stock after purchasing an additional 1,252 shares during the period. Rhumbline Advisers' holdings in Commerzbank were worth $260,000 as of its most recent SEC filing.

About Commerzbank

Commerzbank AG is a major German banking group headquartered in Frankfurt am Main. Founded in 1870, the bank operates as a universal financial institution offering a broad range of services to private customers, small and medium-sized enterprises (the German “Mittelstand”), and large corporates. Its core business lines include retail and corporate banking, transaction banking, capital markets and investment banking, as well as asset and wealth management.

On the retail side, Commerzbank provides everyday banking products such as deposit accounts, payment services, consumer loans, mortgages and digital banking channels for individual customers.

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