Commerzbank (OTCMKTS:CRZBY) Announces Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Commerzbank (OTCMKTS:CRZBY) posted its earnings results on Wednesday. The financial services provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14, Zacks reports. Commerzbank had a return on equity of 7.38% and a net margin of 11.02%.The firm had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.61 billion.

Commerzbank Stock Performance

Shares of OTCMKTS CRZBY traded down $0.63 during trading on Friday, reaching $35.64. The stock had a trading volume of 30,810 shares, compared to its average volume of 47,633. The business’s 50-day moving average price is $39.27 and its 200-day moving average price is $38.92. Commerzbank has a fifty-two week low of $21.80 and a fifty-two week high of $44.85. The company has a market cap of $40.18 billion, a P/E ratio of 15.36 and a beta of 0.37.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Commerzbank stock. Rhumbline Advisers grew its position in Commerzbank AG (OTCMKTS:CRZBY) by 14.5% during the first quarter, according to 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 purchasing an additional 650 shares during the quarter. Rhumbline Advisers’ holdings in Commerzbank were worth $117,000 at the end of the most recent reporting period.

Analyst Ratings Changes

A number of research analysts recently weighed in on CRZBY shares. DZ Bank raised Commerzbank from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. Zacks Research raised shares of Commerzbank from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 17th. Finally, The Goldman Sachs Group reiterated a “neutral” rating on shares of Commerzbank in a research report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Commerzbank presently has a consensus rating of “Moderate Buy”.

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.