Short Interest in Commerzbank AG (OTCMKTS:CRZBY) Declines By 89.7%

Commerzbank AG (OTCMKTS:CRZBY) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totaling 1,264 shares, a drop of 89.7% from the May 31st total of 12,279 shares. Based on an average daily volume of 41,334 shares, the short-interest ratio is currently 0.0 days. Approximately 0.0% of the shares of the stock are sold short.

Hedge Funds Weigh In On Commerzbank

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

Commerzbank Stock Up 0.6%

Shares of OTCMKTS CRZBY opened at $42.78 on Friday. The firm’s fifty day moving average is $42.27 and its 200 day moving average is $40.69. The company has a quick ratio of 12.24, a current ratio of 12.24 and a debt-to-equity ratio of 1.62. Commerzbank has a 52 week low of $30.98 and a 52 week high of $44.85. The company has a market cap of $46.91 billion, a price-to-earnings ratio of 16.91 and a beta of 0.51.

Commerzbank (OTCMKTS:CRZBY) last posted its earnings results on Friday, May 8th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.11. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.83 billion. Commerzbank had a net margin of 11.55% and a return on equity of 7.69%. On average, equities research analysts expect that Commerzbank will post 3.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CRZBY shares. Zacks Research cut Commerzbank from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Keefe, Bruyette & Woods raised Commerzbank from a “hold” rating to a “moderate buy” rating in a report on Thursday, March 26th. Commerzbank upgraded Commerzbank from an “overweight” rating to a “buy” rating in a research report on Tuesday, May 12th. Citigroup restated a “neutral” rating on shares of Commerzbank in a research report on Monday, May 18th. Finally, DZ Bank raised Commerzbank from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

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.