Commonwealth Bank of Australia (OTCMKTS:CMWAY) Sees Strong Trading Volume – Time to Buy?

Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY) shares saw strong trading volume on Monday . 50,848 shares changed hands during mid-day trading, a decline of 8% from the previous session’s volume of 55,521 shares.The stock last traded at $129.11 and had previously closed at $127.45.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Commonwealth Bank of Australia from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.18.

Commonwealth Bank of Australia Stock Down 1.9%

The company has a quick ratio of 1.10, a current ratio of 1.08 and a debt-to-equity ratio of 2.19. The stock has a 50 day moving average price of $109.04 and a two-hundred day moving average price of $108.91.

About Commonwealth Bank of Australia

Commonwealth Bank of Australia is one of Australia’s largest banking and financial services organizations, offering a broad range of products for individual, business and institutional customers. Established by the federal government in 1911, the group has grown into a diversified financial services company that provides everyday banking, lending, payments, wealth management and insurance solutions. The company’s securities are listed on the Australian Securities Exchange and it also has American Depositary Receipts trading OTC under the symbol CMWAY.

Core activities include retail and business banking—deposit accounts, transaction services, mortgages, credit cards and personal and commercial lending—alongside institutional banking services such as corporate finance, markets and transaction banking.