Commerzbank (OTCMKTS:CRZBY) Stock Price Crosses Below 200 Day Moving Average Following Analyst Downgrade

Commerzbank AG (OTCMKTS:CRZBY)’s stock price crossed below its two hundred day moving average during trading on Friday after DZ Bank downgraded the stock from a strong-buy rating to a hold rating. The stock has a two hundred day moving average of $42.35 and traded as low as $42.18. Commerzbank shares last traded at $42.18, with a volume of 22,121 shares traded.

A number of other research analysts also recently issued reports on CRZBY. Citigroup reiterated a “neutral” rating on shares of Commerzbank in a research note on Monday, September 28th. Deutsche Bank Aktiengesellschaft cut shares of Commerzbank from a “buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Finally, Royal Bank Of Canada cut shares of Commerzbank from a “moderate buy” rating to a “hold” rating in a research note on Friday, October 2nd. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Commerzbank presently has an average rating of “Hold”.

Institutional Investors Weigh In On Commerzbank

An institutional investor recently bought a new stake in Commerzbank stock. Canopy Partners LLC purchased a new stake in shares of Commerzbank AG (OTCMKTS:CRZBY) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,570 shares of the financial services provider’s stock, valued at approximately $207,000.

Commerzbank Price Performance

The firm has a market cap of $44.28 billion, a PE ratio of 12.67 and a beta of 0.60. The firm has a fifty day simple moving average of $44.95 and a two-hundred day simple moving average of $42.35. The company has a debt-to-equity ratio of 1.62, a quick ratio of 12.24 and a current ratio of 0.45.

Commerzbank (OTCMKTS:CRZBY) last issued its quarterly earnings data on Thursday, November 5th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. The business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Commerzbank had a return on equity of 9.66% and a net margin of 14.39%. Equities analysts predict that Commerzbank AG will post 3.42 EPS for the current fiscal year.

Commerzbank Company Profile

Commerzbank AG is a German banking group headquartered in Frankfurt. Founded in Hamburg in 1870, it provides financial services to individuals, small and midsize businesses, and corporate clients.

Its services include checking and savings accounts, payments, lending, investment and securities services, and financing for businesses. For corporate customers, the bank also offers services such as trade finance, cash management, and support for international business activities.

Commerzbank’s business is centered on Germany, with operations and services in other markets, including through its Polish subsidiary mBank.