Commerzbank (OTCMKTS:CRZBY) Reaches New 12-Month High – Still a Buy?

Shares of Commerzbank AG (OTCMKTS:CRZBY) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $49.69 and last traded at $49.18, with a volume of 12842 shares. The stock had previously closed at $48.95.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Commerzbank in a research report on Tuesday, May 12th. Commerzbank raised Commerzbank from an “overweight” rating to a “buy” rating in a research report on Tuesday, May 12th. Finally, Citigroup reissued a “neutral” rating on shares of Commerzbank in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Commerzbank has a consensus rating of “Moderate Buy”.

Commerzbank Stock Up 0.5%

The firm has a 50 day simple moving average of $44.66 and a two-hundred day simple moving average of $41.88. The company has a market capitalization of $53.93 billion, a PE ratio of 16.18 and a beta of 0.56. The company has a current ratio of 12.24, a quick ratio of 12.24 and a debt-to-equity ratio of 1.62.

Institutional Investors Weigh In On Commerzbank

A hedge fund recently raised its stake in Commerzbank stock. Rhumbline Advisers lifted its holdings in shares of Commerzbank AG (OTCMKTS:CRZBY) by 14.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,140 shares of the financial services provider’s stock after buying an additional 650 shares during the period. Rhumbline Advisers’ holdings in Commerzbank were worth $117,000 at the end of the most recent reporting period.

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.