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

Commerzbank AG (OTCMKTS:CRZBY) gapped up before the market opened on Tuesday. The stock had previously closed at $42.2680, but opened at $45.1401. Commerzbank shares last traded at $45.10, with a volume of 1,635 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CRZBY shares. Deutsche Bank downgraded shares of Commerzbank from a “buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Citigroup reaffirmed a “neutral” rating on shares of Commerzbank in a research report on Monday, September 28th. Royal Bank Of Canada downgraded Commerzbank from a “moderate buy” rating to a “hold” rating in a report on Friday, October 2nd. Finally, DZ Bank lowered Commerzbank from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 5th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Commerzbank Stock Down 0.8%

The stock’s 50-day moving average price is $44.86 and its two-hundred day moving average price is $42.42. The stock has a market capitalization of $46.81 billion, a PE ratio of 13.49 and a beta of 0.60. The company has a debt-to-equity ratio of 1.62, a quick ratio of 12.24 and a current ratio of 0.45.

Hedge Funds Weigh In On Commerzbank

An institutional investor recently raised its stake in Commerzbank stock. GAMMA Investing LLC raised its holdings in shares of Commerzbank AG (OTCMKTS:CRZBY) by 5.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,201 shares of the financial services provider’s stock after purchasing an additional 324 shares during the period. GAMMA Investing LLC’s holdings in Commerzbank were worth $281,000 as of its most recent SEC filing.

Commerzbank Company Profile

Commerzbank AG is a German banking group headquartered in Frankfurt. Founded in Hamburg in 1870, it provides financial services to individuals, small and midsize businesses, and corporate clients. Its services include checking and savings accounts, payments, lending, investment and securities services, and financing for businesses. For corporate customers, the bank also offers services such as trade finance, cash management, and support for international business activities. Commerzbank’s business is centered on Germany, with operations and services in other markets, including through its Polish subsidiary mBank.