Zacks Research Downgrades Commerzbank (OTCMKTS:CRZBY) to Hold

Key Points

• Zacks Research downgraded Commerzbank from a "strong-buy" to a "hold," and the stock carries a consensus rating of Hold (three Buy, six Hold) amid mixed analyst actions from DZ Bank, Keefe, Bruyette & Woods and Goldman Sachs.
• Commerzbank beat quarterly EPS estimates with $0.72 versus $0.58 expected but missed revenue at $3.03B versus $3.61B, and analysts project about 1.96 EPS for the current fiscal year.
• The shares opened at $41.56 (one‑year range $25.47–$44.85), with a market cap of $46.86B and a P/E of 17.91, and institutional investor Rhumbline Advisers slightly increased its stake in the quarter.

Commerzbank (OTCMKTS:CRZBY - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also weighed in on the stock. DZ Bank upgraded shares of Commerzbank from a "strong sell" rating to a "hold" rating in a research note on Wednesday, February 11th. Keefe, Bruyette & Woods upgraded shares of Commerzbank from a "hold" rating to a "moderate buy" rating in a research note on Thursday, March 26th. Finally, The Goldman Sachs Group restated a "neutral" rating on shares of Commerzbank in a research note on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Commerzbank presently has a consensus rating of "Hold".

Commerzbank Price Performance

Shares of OTCMKTS CRZBY opened at $41.56 on Monday. Commerzbank has a 1 year low of $25.47 and a 1 year high of $44.85. The stock has a market cap of $46.86 billion, a P/E ratio of 17.91 and a beta of 0.47. The firm has a 50-day moving average of $38.38 and a 200 day moving average of $38.92.

Commerzbank (OTCMKTS:CRZBY - Get Free Report) last issued its quarterly earnings results on Wednesday, March 25th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.14. The company had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $3.61 billion. Commerzbank had a net margin of 11.02% and a return on equity of 7.38%. Research analysts expect that Commerzbank will post 1.96 earnings per share for the current fiscal year.

Institutional Trading of Commerzbank

An institutional investor recently raised its position in Commerzbank stock. Rhumbline Advisers lifted its stake in Commerzbank AG (OTCMKTS:CRZBY - Free Report) by 14.5% in the first quarter, according to 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 acquiring an additional 650 shares during the quarter. Rhumbline Advisers' holdings in Commerzbank were worth $117,000 as of its most recent filing with the Securities & Exchange Commission.

Commerzbank Company Profile

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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