Commerzbank (OTCMKTS:CRZBY) Sets New 52-Week High – Time to Buy?

Shares of Commerzbank AG (OTCMKTS:CRZBY) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $49.69 and last traded at $49.18, with a volume of 12842 shares changing hands. The stock had previously closed at $48.95.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Commerzbank raised Commerzbank from an “overweight” rating to a “buy” rating in a report on Tuesday, May 12th. Citigroup restated a “neutral” rating on shares of Commerzbank in a research report on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Commerzbank in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Commerzbank Stock Up 0.5%

The company has a debt-to-equity ratio of 1.62, a current ratio of 12.24 and a quick ratio of 12.24. The firm has a 50-day simple moving average of $44.66 and a two-hundred day simple moving average of $41.88. The company has a market cap of $53.93 billion, a PE ratio of 16.18 and a beta of 0.56.

Institutional Investors Weigh In On Commerzbank

An institutional investor recently raised its position in Commerzbank stock. Rhumbline Advisers lifted its position in shares of Commerzbank AG (OTCMKTS:CRZBY) by 14.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,140 shares of the financial services provider’s stock after buying an additional 650 shares during the quarter. Rhumbline Advisers’ holdings in Commerzbank were worth $117,000 at the end of the most recent 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.