Commerzbank (OTCMKTS:CRZBY) Shares Gap Down – Time to Sell?

Shares of Commerzbank AG (OTCMKTS:CRZBY) gapped down prior to trading on Wednesday . The stock had previously closed at $42.82, but opened at $41.0750. Commerzbank shares last traded at $41.0950, with a volume of 639 shares trading hands.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Commerzbank from a “hold” rating to a “buy” rating in a report on Monday, November 10th. JPMorgan Chase & Co. cut Commerzbank from an “overweight” rating to a “neutral” rating in a report on Tuesday, September 9th. Keefe, Bruyette & Woods cut Commerzbank from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, September 23rd. Finally, The Goldman Sachs Group raised Commerzbank from a “sell” rating to a “neutral” rating in a research note on Thursday, December 4th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold”.

Commerzbank Stock Down 3.1%

The firm has a market cap of $48.25 billion, a P/E ratio of 17.94 and a beta of 0.36. The business has a fifty day simple moving average of $39.72 and a 200-day simple moving average of $37.81.

Commerzbank (OTCMKTS:CRZBY) last released its earnings results on Thursday, November 6th. The financial services provider reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). The business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Commerzbank had a return on equity of 7.29% and a net margin of 11.03%. On average, sell-side analysts anticipate that Commerzbank AG will post 1.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Commerzbank

Large investors have recently made changes to their positions in the business. Yousif Capital Management LLC raised its stake in Commerzbank by 8.0% during the second quarter. Yousif Capital Management LLC now owns 15,644 shares of the financial services provider’s stock valued at $492,000 after buying an additional 1,165 shares during the last quarter. Rhumbline Advisers raised its position in shares of Commerzbank by 22.3% in the 3rd quarter. Rhumbline Advisers now owns 6,876 shares of the financial services provider’s stock worth $260,000 after purchasing an additional 1,252 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Commerzbank by 5.6% in the 4th quarter. GAMMA Investing LLC now owns 5,113 shares of the financial services provider’s stock worth $217,000 after purchasing an additional 272 shares in the last quarter.

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.