Commerzbank (OTCMKTS:CRZBY) Shares Gap Down Following Analyst Downgrade

Commerzbank AG (OTCMKTS:CRZBY)’s stock price gapped down before the market opened on Tuesday after JPMorgan Chase & Co. downgraded the stock from an overweight rating to a neutral rating. The stock had previously closed at $39.58, but opened at $38.06. Commerzbank shares last traded at $38.22, with a volume of 3,787 shares traded.

CRZBY has been the subject of several other reports. Deutsche Bank Aktiengesellschaft downgraded Commerzbank from a “buy” rating to a “hold” rating in a research report on Monday, August 18th. The Goldman Sachs Group lowered shares of Commerzbank from a “hold” rating to a “sell” rating in a research note on Tuesday, August 26th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Commerzbank in a research note on Monday, August 11th. Morgan Stanley reaffirmed an “overweight” rating on shares of Commerzbank in a research note on Monday, May 19th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Commerzbank in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Hedge Funds Weigh In On Commerzbank

A number of large investors have recently added to or reduced their stakes in CRZBY. GAMMA Investing LLC raised its holdings in Commerzbank by 5,022.0% in the first quarter. GAMMA Investing LLC now owns 94,757 shares of the financial services provider’s stock worth $2,160,000 after purchasing an additional 92,907 shares in the last quarter. Yousif Capital Management LLC raised its holdings in Commerzbank by 8.0% in the second quarter. Yousif Capital Management LLC now owns 15,644 shares of the financial services provider’s stock worth $492,000 after purchasing an additional 1,165 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Commerzbank by 14.5% in the first quarter. Rhumbline Advisers now owns 5,140 shares of the financial services provider’s stock worth $117,000 after purchasing an additional 650 shares in the last quarter.

Commerzbank Price Performance

The firm has a market capitalization of $45.40 billion, a P/E ratio of 17.03 and a beta of 0.67. The company has a debt-to-equity ratio of 14.69, a current ratio of 12.40 and a quick ratio of 33.14. The stock’s fifty day simple moving average is $37.41 and its 200 day simple moving average is $30.87.

Commerzbank (OTCMKTS:CRZBY) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.45). The firm had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $2.97 billion. Commerzbank had a return on equity of 7.49% and a net margin of 10.51%. On average, equities research analysts predict that Commerzbank AG will post 1.96 EPS for the current year.

Commerzbank Company Profile

Commerzbank AG provides banking and capital market products and services to private and small business customers, corporate, financial service providers, and institutional clients in Germany, rest of Europe, the Americas, Asia, and internationally. It operates through two segments, Private and Small-Business Customers, and Corporate Clients.