Commerzbank (OTCMKTS:CRZBY) PT Raised to C$8.50 at Royal Bank of Canada

Commerzbank (OTCMKTS:CRZBYGet Rating) had its price objective upped by stock analysts at Royal Bank of Canada from C$8.20 to C$8.50 in a report issued on Sunday, The Fly reports. The firm presently has a “sector perform” rating on the financial services provider’s stock.

Several other equities research analysts also recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of Commerzbank in a research note on Thursday, March 31st. They set a “neutral” rating and a €9.70 ($10.21) price objective for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Commerzbank from €11.00 ($11.58) to €10.00 ($10.53) and set a “buy” rating for the company in a research note on Wednesday, April 20th. Morgan Stanley lifted their price objective on shares of Commerzbank from €9.10 ($9.58) to €11.70 ($12.32) and gave the stock an “overweight” rating in a research note on Tuesday, February 15th. Zacks Investment Research downgraded shares of Commerzbank from a “hold” rating to a “sell” rating in a research note on Tuesday, May 3rd. Finally, Societe Generale upgraded shares of Commerzbank from a “sell” rating to a “hold” rating and set a €9.00 ($9.47) price objective for the company in a research note on Friday, February 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.31.

Shares of CRZBY opened at $6.62 on Friday. Commerzbank has a twelve month low of $5.85 and a twelve month high of $10.55. The company has a 50 day moving average of $7.20 and a two-hundred day moving average of $7.83.

An institutional investor recently bought a new position in Commerzbank stock. Yousif Capital Management LLC bought a new stake in shares of Commerzbank AG (OTCMKTS:CRZBYGet Rating) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 19,400 shares of the financial services provider’s stock, valued at approximately $147,000.

About Commerzbank (Get Rating)

Commerzbank AG provides banking and capital market services to private and small business customers, multinational groups, financial service providers, and institutional clients worldwide. It operates through two segments, Private and Small-Business Customers, and Corporate Clients. The company offers accounts, commercial payments, payment enabling, clearing and custody, and other services; trade services, including documentary collection, letters of credit, guarantees, trade facilitation, supply chain financing, buyer's credit, and forfaiting services; and bilateral loans, club deals, Schuldschein instruments, syndicated loans, bonds, private placements, other debt instruments, and Islamic financing services.

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