Commonwealth Bank of Australia (OTCMKTS:CMWAY) Trading 6.2% Higher – Here’s What Happened

Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY) shares were up 6.2% during trading on Wednesday . The stock traded as high as $122.62 and last traded at $121.00. Approximately 5,934 shares traded hands during trading, a decline of 90% from the average daily volume of 57,452 shares. The stock had previously closed at $113.96.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Commonwealth Bank of Australia from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $130.18.

Commonwealth Bank of Australia Trading Up 5.8%

The company’s fifty day simple moving average is $105.18 and its two-hundred day simple moving average is $108.21. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.18.

About Commonwealth Bank of Australia

Commonwealth Bank of Australia is one of Australia’s largest banking and financial services organizations, offering a broad range of products for individual, business and institutional customers. Established by the federal government in 1911, the group has grown into a diversified financial services company that provides everyday banking, lending, payments, wealth management and insurance solutions. The company’s securities are listed on the Australian Securities Exchange and it also has American Depositary Receipts trading OTC under the symbol CMWAY.

Core activities include retail and business banking—deposit accounts, transaction services, mortgages, credit cards and personal and commercial lending—alongside institutional banking services such as corporate finance, markets and transaction banking.