Commerzbank AG (OTCMKTS:CRZBY – Get Rating) recorded a significant increase in short-term interest in June. As of June 30, there was short interest totaling 85,100 shares, an increase of 102.1% from the June 15 total of 42,100 shares. Based on an average daily volume of 129,700 shares, the day-to-cover ratio is currently 0.7 days.
Wall Street analysts predict growth
A number of stock analysts have recently commented on CRZBY shares. Royal Bank of Canada raised its price target on Commerzbank shares from C$8.20 to C$8.50 and gave the company an “industry performance” rating in a report released on Sunday, May 15 . Societe Generale upgraded Commerzbank’s shares from a “hold” rating to a “buy” rating in a Monday, May 23 report. UBS Group upgraded Commerzbank shares from a “neutral” rating to a “buy” rating in a Thursday, May 19 report. Deutsche Bank Aktiengesellschaft raised its price target on Commerzbank shares from €10.00 ($10.00) to €11.00 ($11.00) in a Monday, May 23 report. Finally, the Goldman Sachs group launched a hedge on Commerzbank shares in a research note on Thursday, March 31. They issued a “neutral” rating and a price target of €9.70 ($9.70) on the stock. Four equity research analysts gave the stock a hold rating and five gave the stock a buy rating. According to MarketBeat.com, Commerzbank currently has an average rating of “Moderate Buy” and a consensus target price of $9.68.
Commerzbank stock performance
Shares of OTCMKTS CRZBY opened at $5.96 on Friday. Commerzbank has a one-year minimum of $5.70 and a one-year maximum of $10.55. The company’s fifty-day moving average is $7.53 and its two-hundred-day moving average is $7.87.
Commerzbank (OTCMKTS:CRZBY – Get Rating) last released its results on Thursday, May 12. The financial services provider reported EPS of $0.27 for the quarter, beating the consensus estimate of $0.15 by $0.12. The company posted revenue of $2.84 billion for the quarter, versus $2.46 billion expected by analysts. On average, stock analysts predict Commerzbank will post 1.01 earnings per share for the current fiscal year.
Institutional investors weigh in on Commerzbank
A hedge fund recently bought a new stake in Commerzbank shares. Yousif Capital Management LLC acquired a new position in Commerzbank AG (OTCMKTS:CRZBY – Get Rating) during the 4th quarter, according to its latest SEC filing. The fund acquired 19,400 shares of the financial services provider, valued at around $147,000.
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Commerzbank AG provides banking and capital markets services to private and small business clients, multinational groups, financial service providers and institutional clients worldwide. It operates through two segments, Private and Small Business Customers, and Enterprise Customers. The Company offers accounts, trade payments, payment activation, clearing and custody, and other services; trade services, including documentary collection, letters of credit, guarantees, trade facilitation, supply chain finance, buyer credit and package services; and bilateral loans, club agreements, Schuldschein instruments, syndicated loans, bonds, private placements, other debt instruments and Islamic financing services.
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