Commonwealth Bank of Australia (OTCMKTS:CMWAY) Sees Large Volume Increase – Still a Buy?

Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY) saw an uptick in trading volume on Monday . 50,848 shares traded hands during mid-day trading, a decline of 8% from the previous session’s volume of 55,521 shares.The stock last traded at $129.11 and had previously closed at $127.45.

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 report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $130.18.

Commonwealth Bank of Australia Trading Down 1.9%

The company’s 50-day moving average price is $109.04 and its 200-day moving average price is $108.91. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.08 and a quick ratio of 1.10.

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.