Commerzbank (OTCMKTS:CRZBY) Sees Large Volume Increase – Here’s What Happened

Shares of Commerzbank AG (OTCMKTS:CRZBY) saw unusually-high trading volume on Wednesday . Approximately 63,519 shares changed hands during mid-day trading, an increase of 105% from the previous session’s volume of 31,015 shares.The stock last traded at $40.57 and had previously closed at $39.52.

Analyst Ratings Changes

CRZBY has been the subject of a number of research reports. DZ Bank upgraded Commerzbank from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. Deutsche Bank Aktiengesellschaft raised Commerzbank from a “hold” rating to a “buy” rating in a research report on Monday, November 10th. Finally, The Goldman Sachs Group raised Commerzbank from a “sell” rating to a “neutral” rating in a research report on Thursday, December 4th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Commerzbank presently has a consensus rating of “Hold”.

Commerzbank Trading Up 2.4%

The firm has a 50-day simple moving average of $41.36 and a 200-day simple moving average of $39.35. The firm has a market cap of $43.31 billion, a P/E ratio of 17.82 and a beta of 0.36.

Institutional Trading of Commerzbank

Several hedge funds have recently modified their holdings of CRZBY. GAMMA Investing LLC boosted its holdings in shares of Commerzbank by 5.6% in the 4th quarter. GAMMA Investing LLC now owns 5,113 shares of the financial services provider’s stock valued at $217,000 after buying an additional 272 shares in the last quarter. Rhumbline Advisers boosted its stake in Commerzbank by 22.3% in the third quarter. Rhumbline Advisers now owns 6,876 shares of the financial services provider’s stock valued at $260,000 after acquiring an additional 1,252 shares in the last quarter. Finally, Yousif Capital Management LLC grew 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 during the last quarter.

Commerzbank Company Profile

Commerzbank AG is a major German banking group headquartered in Frankfurt am Main. Founded in 1870, the bank operates as a universal financial institution offering a broad range of services to private customers, small and medium-sized enterprises (the German “Mittelstand”), and large corporates. Its core business lines include retail and corporate banking, transaction banking, capital markets and investment banking, as well as asset and wealth management.

On the retail side, Commerzbank provides everyday banking products such as deposit accounts, payment services, consumer loans, mortgages and digital banking channels for individual customers.