Commonwealth Bank of Australia (OTCMKTS:CMWAY) Reaches New 12-Month High – Here’s Why

Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $128.26 and last traded at $128.26, with a volume of 26166 shares traded. The stock had previously closed at $125.54.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Commonwealth Bank of Australia from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $130.18.

Commonwealth Bank of Australia Trading Up 1.5%

The company has a debt-to-equity ratio of 2.19, a current ratio of 1.08 and a quick ratio of 1.10. The business’s 50-day moving average price is $107.03 and its 200-day moving average price is $108.53.

Commonwealth Bank of Australia Company Profile

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.