Commerzbank AG (OTCMKTS:CRZBY) Short interest down 40.8% in July

Commerzbank AG (OTCMKTS:CRZBY – Get Rating) benefited from a sharp drop in short interest in July. As of July 31, there was short interest totaling 31,200 shares, down 40.8% from the July 15 total of 52,700 shares. Based on an average daily trading volume of 121,700 shares, the day-to-cover ratio is currently 0.3 days.

Commerzbank trades up 3.7%

OTCMKTS CRZBY traded down $0.26 during Friday’s trading, hitting $7.34. The company’s shares had a trading volume of 10,784 shares, compared to an average volume of 63,948. Commerzbank has a 12-month low of $5.70 and a 12-month high of $10.55. The company’s fifty-day moving average price is $7.18 and its 200-day moving average price is $7.66.

Commerzbank (OTCMKTS:CRZBY – Get Rating) released its quarterly results for the last time on Thursday, May 12. The financial services provider reported earnings per share (EPS) of $0.27 for the quarter, beating analyst consensus estimates of $0.15 by $0.12. The company posted revenue of $2.84 billion for the quarter, versus analyst estimates of $2.46 billion. Analysts expect Commerzbank to post earnings per share of 0.93 for the current year.

Analysts set new price targets

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A number of brokerages have recently released reports on CRZBY. UBS Group raised its price target on Commerzbank shares from €8.60 ($8.78) to €8.90 ($9.08) in a Thursday, July 21 report. Societe Generale upgraded Commerzbank’s shares from a “hold” to a “buy” rating in a Monday, May 23 research report. Deutsche Bank Aktiengesellschaft raised its price target on Commerzbank shares from €10.00 ($10.20) to €11.00 ($11.22) in a Monday, May 23 research report. Royal Bank of Canada raised its price target on Commerzbank shares from CA$8.20 to CA$8.50 and gave the company an ‘industry performance’ rating in a Sunday 15 research report may. Finally, JPMorgan Chase & Co. raised its price target on Commerzbank shares from €7.80 ($7.96) to €8.20 ($8.37) and gave the company a “neutral” rating. in a Thursday, May 19, research report. Four analysts gave the stock a hold rating and four gave the company a buy rating. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.57.

Institutional entries and exits

An institutional investor recently increased his position in Commerzbank shares. Henry James International Management Inc. increased its stake in the shares of Commerzbank AG (OTCMKTS: CRZBY – Get Rating) by 26.2% during the 1st quarter, according to its latest Form 13F filed with the Securities and Exchange Commission. The company held 27,430 shares of the financial services provider after purchasing an additional 5,687 shares during the quarter. Henry James International Management Inc.’s holdings in Commerzbank were worth $208,000 when it was last filed with the Securities and Exchange Commission.

About Commerzbank

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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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