Commerzbank AG (OTCMKTS:CRZBY) Receives Average Analyst Rating of “Moderate Buy”
Commerzbank AG (OTCMKTS:CRZBY – Get a rating) received a consensus “moderate buy” recommendation from the nine research firms that currently cover the stock, Marketbeat.com reports. Four investment analysts rated the stock with a hold recommendation and four gave the company a buy recommendation. The 12-month average price target among brokers who have reported on the stock over the past year is $9.82.
CRZBY has been the subject of several recent analyst reports. Societe Generale upgraded Commerzbank from a “hold” rating to a “buy” rating in a Monday, May 23 report. Deutsche Bank Aktiengesellschaft raised its price target on Commerzbank from €10.00 ($10.42) to €11.00 ($11.46) in a Monday, May 23 report. Goldman Sachs Group launched a hedge on Commerzbank in a Thursday, March 31 report. They set a “neutral” rating and a target price of €9.70 ($10.10) on the stock. UBS Group upgraded Commerzbank from a “neutral” rating to a “buy” rating in a Thursday, May 19 report. Finally, JPMorgan Chase & Co. raised its price target on Commerzbank from €7.80 ($8.13) to €8.20 ($8.54) and gave the company a “neutral” rating in a report for Thursday, May 19.
An institutional investor recently bought a new position in Commerzbank shares. Yousif Capital Management LLC has acquired a new stake in Commerzbank AG (OTCMKTS:CRZBY – Get a rating) during the 4th quarter, according to the company in its most recent communication with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,400 shares of the financial services provider, valued at around $147,000.
Commerzbank shares opened Friday at $6.51. The company has a 50-day simple moving average of $7.58 and a 200-day simple moving average of $7.93. Commerzbank has a one-year minimum of $5.85 and a one-year maximum of $10.55.
Commerzbank (OTCMKTS:CRZBY – Get a rating) last reported 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 in the quarter, versus analyst estimates of $2.46 billion. On average, equity research analysts expect Commerzbank to post EPS of 1.01 for the current fiscal year.
Commerzbank Company Profile (Get a rating)
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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