Commerzbank (OTCMKTS:CRZBY) Shares Down 6% – What’s Next?

Commerzbank AG (OTCMKTS:CRZBY)’s stock price dropped 6% during trading on Friday . The stock traded as low as $38.22 and last traded at $38.22. Approximately 11,685 shares changed hands during trading, a decline of 59% from the average daily volume of 28,416 shares. The stock had previously closed at $40.66.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CRZBY shares. DZ Bank raised Commerzbank from a “strong sell” rating to a “hold” rating in a research report on Wednesday. The Goldman Sachs Group upgraded Commerzbank from a “sell” rating to a “neutral” rating in a research note on Thursday, December 4th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Commerzbank from a “hold” rating to a “buy” rating in a research note on Monday, November 10th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Commerzbank currently has a consensus rating of “Hold”.

Commerzbank Trading Down 5.5%

The business’s 50 day moving average price is $41.43 and its 200-day moving average price is $39.24. The company has a market cap of $41.13 billion, a price-to-earnings ratio of 16.93 and a beta of 0.36.

Institutional Trading of Commerzbank

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in Commerzbank by 5.6% in the fourth quarter. GAMMA Investing LLC now owns 5,113 shares of the financial services provider’s stock valued at $217,000 after buying an additional 272 shares in the last quarter. Rhumbline Advisers boosted its stake 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 valued at $260,000 after purchasing an additional 1,252 shares in the last quarter. Finally, Yousif Capital Management LLC grew its holdings in shares of Commerzbank by 8.0% during the 2nd quarter. Yousif Capital Management LLC now owns 15,644 shares of the financial services provider’s stock valued at $492,000 after purchasing an additional 1,165 shares during the last quarter.

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.