Commerzbank (OTCMKTS:CRZBY) Shares Gap Down – Here’s What Happened

Commerzbank AG (OTCMKTS:CRZBY) shares gapped down prior to trading on Wednesday . The stock had previously closed at $43.05, but opened at $40.94. Commerzbank shares last traded at $40.9550, with a volume of 10,788 shares.

Wall Street Analysts Forecast Growth

CRZBY has been the subject of several research analyst reports. Keefe, Bruyette & Woods upgraded shares of Commerzbank from a “hold” rating to a “moderate buy” rating in a report on Thursday, March 26th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Commerzbank in a report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Commerzbank in a report on Thursday, April 16th. DZ Bank upgraded shares of Commerzbank from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. Finally, Zacks Research lowered shares of Commerzbank from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Commerzbank presently has an average rating of “Moderate Buy”.

Commerzbank Stock Down 2.1%

The company has a market cap of $45.74 billion, a P/E ratio of 17.48 and a beta of 0.47. The company has a debt-to-equity ratio of 14.97, a current ratio of 15.43 and a quick ratio of 15.42. The company’s 50-day moving average is $38.44 and its two-hundred day moving average is $39.07.

Commerzbank (OTCMKTS:CRZBY) last announced its quarterly earnings results on Wednesday, March 25th. The financial services provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.61 billion. Commerzbank had a net margin of 11.02% and a return on equity of 7.38%. As a group, equities analysts predict that Commerzbank AG will post 3.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Commerzbank

An institutional investor recently raised its position in Commerzbank stock. Rhumbline Advisers lifted its position in shares of Commerzbank AG (OTCMKTS:CRZBY) by 22.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,876 shares of the financial services provider’s stock after acquiring an additional 1,252 shares during the period. Rhumbline Advisers’ holdings in Commerzbank were worth $260,000 as of its most recent filing with the Securities & Exchange Commission.

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.