Commonwealth Bank of Australia (OTCMKTS:CMWAY) Shares Gap Up – Here’s What Happened

Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $114.50, but opened at $127.00. Commonwealth Bank of Australia shares last traded at $126.57, with a volume of 990 shares.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Commonwealth Bank of Australia from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Commonwealth Bank of Australia presently has a consensus rating of “Moderate Buy” and an average price target of $130.18.

Commonwealth Bank of Australia Trading Up 3.0%

The company has a fifty day simple moving average of $105.61 and a 200-day simple moving average of $108.31. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.10 and a quick ratio of 1.10.

Commonwealth Bank of Australia Company Profile

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.