Commerzbank (OTCMKTS:CRZBY) Sets New 1-Year High - Still a Buy?

Key Points

• Commerzbank shares reached a new 52-week high of $48.28, up from the previous close of $45.71. The stock trades above both its 50-day and 200-day moving averages.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” based on one Strong Buy, five Buy, and four Hold ratings.
• Commerzbank has a market capitalization of approximately $53.2 billion and a P/E ratio of 15.95. Rhumbline Advisers also increased its stake by 14.5% during the first quarter.

Shares of Commerzbank AG (OTCMKTS:CRZBY - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $48.28 and last traded at $48.28, with a volume of 1117 shares traded. The stock had previously closed at $45.71.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CRZBY. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Commerzbank in a research note on Tuesday, May 12th. Citigroup reissued 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 report on Tuesday, May 12th. Finally, DZ Bank raised Commerzbank from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

Commerzbank Price Performance

The firm has a market capitalization of $53.18 billion, a P/E ratio of 15.95 and a beta of 0.56. The company has a fifty day moving average of $44.15 and a 200 day moving average of $41.61. The company has a debt-to-equity ratio of 1.62, a current ratio of 12.24 and a quick ratio of 12.24.

Hedge Funds Weigh In On Commerzbank

A hedge fund recently raised its position in Commerzbank stock. Rhumbline Advisers boosted its position in Commerzbank AG (OTCMKTS:CRZBY - Free Report) by 14.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,140 shares of the financial services provider's stock after buying an additional 650 shares during the period. Rhumbline Advisers' holdings in Commerzbank were worth $117,000 at the end of the most recent quarter.

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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