Commerzbank (OTCMKTS:CRZBY) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Commerzbank (OTCMKTS:CRZBY) released its quarterly earnings results on Thursday. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03, Zacks reports. Commerzbank had a return on equity of 8.89% and a net margin of 13.30%. The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion.

Commerzbank Price Performance

Shares of CRZBY traded down $1.03 during midday trading on Friday, hitting $42.18. The company’s stock had a trading volume of 22,121 shares, compared to its average volume of 37,963. Commerzbank has a one year low of $33.63 and a one year high of $50.16. The company’s fifty day simple moving average is $44.95 and its two-hundred day simple moving average is $42.35. The company has a quick ratio of 12.24, a current ratio of 0.45 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $44.28 billion, a price-to-earnings ratio of 12.67 and a beta of 0.60.

Wall Street Analyst Weigh In

CRZBY has been the subject of a number of research reports. Royal Bank Of Canada downgraded Commerzbank from a “moderate buy” rating to a “hold” rating in a report on Friday, October 2nd. DZ Bank cut Commerzbank from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft cut Commerzbank from a “buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Finally, Citigroup reissued a “neutral” rating on shares of Commerzbank in a research report on Monday, September 28th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold”.

About Commerzbank

Commerzbank AG is a German banking group headquartered in Frankfurt. Founded in Hamburg in 1870, it provides financial services to individuals, small and midsize businesses, and corporate clients.

Its services include checking and savings accounts, payments, lending, investment and securities services, and financing for businesses. For corporate customers, the bank also offers services such as trade finance, cash management, and support for international business activities.

Commerzbank’s business is centered on Germany, with operations and services in other markets, including through its Polish subsidiary mBank.