Commonwealth Bank of Australia (OTCMKTS:CMWAY) Reaches New 1-Year High – Time to Buy?

Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY) reached a new 52-week high during trading on Wednesday . The company traded as high as $129.81 and last traded at $128.2550, with a volume of 3701 shares trading hands. The stock had previously closed at $125.46.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Commonwealth Bank of Australia from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $130.18.

Commonwealth Bank of Australia Stock Down 1.4%

The stock has a 50-day simple moving average of $114.88 and a 200-day simple moving average of $110.24. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.10 and a current ratio of 1.08.

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.