Australia & New Zealand Banking Group Ltd. (OTCMKTS:ANZBY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage presently has a $23.00 target price on the stock. Zacks Investment Research’s target price would indicate a potential upside of 10.58% from the company’s previous close.

According to Zacks, “Austria and New Zealand Banking’s principal activities are the provision of general banking services, hire purchase and general finance, life assurance, property development, mortgage lending and other financial services. The Group operates within Australia, New Zealand, Europe, Asia, the Americas and the Middle East. “

Australia & New Zealand Banking Group (OTCMKTS:ANZBY) traded up 2.97% on Wednesday, reaching $20.80. The company’s stock had a trading volume of 51,715 shares. Australia & New Zealand Banking Group has a 52 week low of $15.63 and a 52 week high of $21.17. The firm has a 50 day moving average price of $20.08 and a 200 day moving average price of $18.75. The stock has a market capitalization of $60.21 billion, a P/E ratio of 12.58 and a beta of 1.64.

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About Australia & New Zealand Banking Group

Australia and New Zealand Banking Group Limited (ANZ) provides a range of banking and financial products and services to retail, small business, corporate and institutional clients. The Company conducts its operations in Australia, New Zealand and the Asia Pacific region. The Company has 1,220 branches and other points of representation excluding Automatic Teller Machines (ATMs).

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