View ValuationCommerzbank 将来の成長Future 基準チェック /26Commerzbank利益と収益がそれぞれ年間14.7%と7.1%増加すると予測されています。EPS は年間 増加すると予想されています。自己資本利益率は 3 年後に14.2% 17.4%なると予測されています。主要情報14.7%収益成長率17.42%EPS成長率Banks 収益成長8.2%収益成長率7.1%将来の株主資本利益率14.18%アナリストカバレッジGood最終更新日19 May 2026今後の成長に関する最新情報Price Target Changed • Oct 21Price target increased by 7.4% to €18.25Up from €16.99, the current price target is an average from 12 analysts. New target price is 9.7% above last closing price of €16.63. Stock is up 63% over the past year. The company is forecast to post earnings per share of €1.86 for next year compared to €1.63 last year.Price Target Changed • Oct 13Price target increased by 10.0% to €17.87Up from €16.25, the current price target is an average from 13 analysts. New target price is 7.2% above last closing price of €16.67. Stock is up 66% over the past year. The company is forecast to post earnings per share of €1.87 for next year compared to €1.63 last year.Price Target Changed • May 28Price target increased by 7.6% to €15.62Up from €14.52, the current price target is an average from 17 analysts. New target price is approximately in line with last closing price of €15.57. Stock is up 62% over the past year. The company is forecast to post earnings per share of €1.98 for next year compared to €1.63 last year.Price Target Changed • Feb 20Price target increased by 7.5% to €11.42Up from €10.62, the current price target is an average from 18 analysts. New target price is approximately in line with last closing price of €11.42. Stock is up 33% over the past year. The company is forecast to post earnings per share of €0.99 for next year compared to €0.23 last year.お知らせ • Feb 17Commerzbank AG Provides Earnings Guidance for the Year 2023Commerzbank AG provided earnings guidance for the year 2023. The company expects another demanding year in view of the challenging environment. It remains however optimistic that it will continue its strong business performance and thus make further progress towards its medium-term goals. The Bank anticipates a further increase in net interest income to well above €6.5 billion with clear additional upside potential. Net commission income is expected to remain stable. The Bank is aiming for a further reduction in total costs to €6.3 billion, even though the cost-income ratio is the key steering metric. On the assumption of using TLA, the Bank expects a risk result of less than minus €900 million.すべての更新を表示Recent updatesDeclared Dividend • May 20Dividend increased to €1.10Dividend of €1.10 is 69% higher than last year. Ex-date: 21st May 2026 Payment date: 26th May 2026 Dividend yield will be 3.0%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (51% payout ratio) and is expected to be covered in 3 years' time (51% forecast payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 62% over the next 3 years, which should provide support to the dividend and adequate earnings cover.お知らせ • Apr 11Commerzbank AG, Annual General Meeting, May 20, 2026Commerzbank AG, Annual General Meeting, May 20, 2026, at 10:00 W. Europe Standard Time.お知らせ • Apr 09UniCredit S.p.A. (BIT:UCG) cancelled the acquisition of remaining 73.98% stake in Commerzbank AG (XTRA:CBK).UniCredit S.p.A. (BIT:UCG) made a voluntary public takeover offer to acquire remaining 73.98% stake in Commerzbank AG (XTRA:CBK) for €25.7 billion on March 16, 2026. Subject to the offer conditions in the offer document, the Bidder intends to offer the minimum consideration prescribed under German law, which will finally be determined by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) and which the Bidder expects to be 0.485 new ordinary shares in UniCredit (UniCredit Offer Shares) for each tendered Commerzbank Share. The consummation of the Offer will be subject to certain closing conditions to be further detailed in the offer document. These will include merger control, foreign investment control, and EU foreign subsidies clearances, regulatory clearances (including, but not limited to, clearance by the European Central Bank and German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) in Germany) as well as other customary offer conditions. The Offer is expected to be formally launched at the beginning of May with an offer period of 4 weeks. Subject to the fulfilment or waiver by UniCredit of the conditions to the Offer, settlement is expected to be completed by the first half of 2027 after having obtained all necessary regulatory clearances, as will be further detailed in the offer document. As of April 7, 2026, Commerzbank currently sees no basis for a mutually agreed value-accretive transaction after interactions with UniCredit which did not demonstrated sufficient value upside potential for its shareholders beyond the current standalone strategy. UniCredit has also shown no willingness to offer Commerzbank shareholders a necessary adequate premium. Commerzbank will continue to focus on the successful implementation of its standalone strategy. Commerzbank remains open to discussions and proposals that create concrete value for its shareholders and stakeholders. UniCredit S.p.A. (BIT:UCG) cancelled the acquisition of remaining 73.98% stake in Commerzbank AG (XTRA:CBK) on April 7, 2026.お知らせ • Mar 16UniCredit S.p.A. (BIT:UCG) made a voluntary public takeover offer to acquire remaining 73.98% stake in Commerzbank AG (XTRA:CBK) for €25.7 billion.UniCredit S.p.A. (BIT:UCG) made a voluntary public takeover offer to acquire remaining 73.98% stake in Commerzbank AG (XTRA:CBK) for €25.7 billion on March 16, 2026. Subject to the offer conditions in the offer document, the Bidder intends to offer the minimum consideration prescribed under German law, which will finally be determined by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) and which the Bidder expects to be 0.485 new ordinary shares in UniCredit (UniCredit Offer Shares) for each tendered Commerzbank Share. The consummation of the Offer will be subject to certain closing conditions to be further detailed in the offer document. These will include merger control, foreign investment control, and EU foreign subsidies clearances, regulatory clearances (including, but not limited to, clearance by the European Central Bank and German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) in Germany) as well as other customary offer conditions. The Offer is expected to be formally launched at the beginning of May with an offer period of 4 weeks. Subject to the fulfilment or waiver by UniCredit of the conditions to the Offer, settlement is expected to be completed by the first half of 2027 after having obtained all necessary regulatory clearances, as will be further detailed in the offer document.お知らせ • Feb 12Commerzbank Ag Announces Resignation of Bernd Spalt as Chief Risk OfficerCommerzbank AG announced that Bernd Spalt, Chief Risk Officer will fulfil his current contract running until the end of 2026, but has decided, for personal reasons, not to seek an extension. He has informed the Supervisory Board about his decision in the meeting on 10 February. Bernd Spalt joined Commerzbank on 1 January 2024. He has established the risk function as a reliable partner supporting Commerzbank's strategic goals.お知らせ • Feb 11Commerzbank AG announces Annual dividend, payable on May 25, 2026Commerzbank AG announced Annual dividend of EUR 1.1000 per share payable on May 25, 2026, ex-date on May 21, 2026 and record date on May 22, 2026.お知らせ • Dec 10Commerzbank AG to Report Fiscal Year 2025 Final Results on Mar 25, 2026Commerzbank AG announced that they will report fiscal year 2025 final results on Mar 25, 2026お知らせ • Oct 01Commerzbank AG (XTRA:CBK) commences an Equity Buyback Plan for 67,011,368 shares, representing 5.66% of its issued share capital, under the authorization approved on May 15, 2025.Commerzbank AG (XTRA:CBK) commences share repurchases on September 25, 2025, under the program mandated by the shareholders in the Annual General Meeting held on May 15, 2025. As per the mandate, the company is authorized to repurchase up to 67,011,368 shares, representing 5.66% of its issued share capital, such that the company’s holding in treasury does not exceed 10% of its issued share capital. The highest price at which the company may buy its own shares may not be more than 10% higher than the average value for the share price (closing auction prices or similar successor prices for the share in XETRA trading or a similar successor system to the XETRA system on the Frankfurt Stock Exchange) on the last three trading days prior to the purchase. The lowest price at which the company may buy its shares may not be more than 20% lower than the average value for the share price (closing auction prices or similar successor prices for the share in XETRA trading or a similar successor system to the XETRA system on the Frankfurt Stock Exchange) on the last three trading days prior to the purchase. The repurchased shares can be resold; can be used as consideration for the purpose of acquiring companies, parts of companies or participations in companies as well as other assets; used for a grant of a subscription right for holders of conversion rights or warrants issued or still be issued by the company or companies in which the company directly or indirectly holds a majority stake, which such holders would have after exercising the conversion right or the warrant or after fulfilling a corresponding duty to convert or exercise the warrant; or can be used as employee shares issued to employees of the company and companies in which the company directly or indirectly holds a majority stake; or can be used as a component in the compensation by granting shares to members of the Board of Managing Directors, members of senior management of employees of the above-mentioned companies; or will be cancelled. The authority will be valid till May 14, 2030. As of April 4, 2025, the company had 1,184,669,009 shares outstanding and 57,172,814 shares in treasury. On September 24, 2025, the company announces a share repurchase program. Under the program, the company will repurchase up to €1,000 million worth of its shares. The repurchased shares will be redeemed. The program has been approved by the European Central Bank (ECB) and the German Finance Agency. The program will begin on September 25, 2025, and will be conducted for a period until February 10, 2026. On the same day, the company also announced that it will repurchase up to €15.5 million worth of its shares. The purpose of the program is to use the repurchased shares for the planned employee share program.お知らせ • Sep 05Commerzbank CEO Reportedly Rules Out UniCredit S.p.A. TakeoverCommerzbank AG's (XTRA:CBK) CEO Bettina Orlopp has confirmed that Italy’s UniCredit SpA (BIT:UCG) will not acquire the German lender, emphasizing that any potential deal rests with shareholders, Reuters reported on September 3, 2025. Speaking at a banking conference, Orlopp stressed Commerzbank’s independence, noting that any transaction would only proceed if it creates clear value, the media said. "Our shareholders will decide, and that's where the decision belongs," she was cited as saying. UniCredit has built a 26% stake in Commerzbank over the past year and has been pushing for a complete merger. It recently confirmed it does not plan to seek board representation and that it will closely monitor the German bank’s efforts to strengthen its business and generate shareholder value. Commerzbank and the German government, holding around 12% of the local bank, have consistently resisted the bid.お知らせ • Aug 08+ 3 more updatesCommerzbank AG to Report Q1, 2026 Results on May 08, 2026Commerzbank AG announced that they will report Q1, 2026 results on May 08, 2026お知らせ • May 17+ 1 more updateCommerzbank AG Approves Dividend for the 2024 Financial YearCommerzbank AG at its AGM held on 15 May 2025 approved the dividend for the 2024 financial year in the amount of 65 cents per share. The total dividend payment therefore amounts to €733 million.お知らせ • Apr 07+ 1 more updateCommerzbank AG, Annual General Meeting, May 15, 2025Commerzbank AG, Annual General Meeting, May 15, 2025, at 10:00 W. Europe Standard Time.お知らせ • Feb 26German Regulator Reportedly Assesses UniCredit Bid for Stake in CommerzbankItalian lender UniCredit S.p.A. (BIT:UCG) has reported its planned acquisition of a 29.99% minority stake in Germany's Commerzbank AG (XTRA:CBK) to the German Cartel Office for assessment, a spokesperson for the regulator said. The application, dated February 24, 2025, appears on a list of current merger control proceedings on the office's website. The German authority has up to one month to decide whether the purchase is problematic in a first-phase assessment procedure. UniCredit announced an initial 9% stake in Commerzbank in September, angering the Berlin government and the German lender, which has described the move as hostile and unilateral. The Italian bank has not backed down, however, and it is also awaiting European Central Bank approval for the stake it has built, largely using derivatives. UniCredit CEO Andrea Orcel has said he wanted to wait until a new government was in place in Berlin after Sunday's election before making an offer for the rest of Commerzbank. The planned stake reported to the German regulator sits just below the 30% threshold that would trigger a mandatory takeover offer under German rules. Orcel said this month that a decision on what to do with the Commerzbank stake would be taken in three to five quarters.お知らせ • Feb 01Commerzbank AG Plans to Propose A DividendBased on the strong results, Commerzbank AG plans to propose a dividend of €0.65 per share (previous year: €0.35) to the Annual General Meeting.お知らせ • Dec 13Commerzbank AG to Report Fiscal Year 2024 Results on Mar 26, 2025Commerzbank AG announced that they will report fiscal year 2024 results on Mar 26, 2025お知らせ • Nov 22Commerzbank AG Announces Chief Financial Officer ChangesCommerzbank AG announced on that it has appointed Carsten Schmitt as chief financial officer to succeed Bettina Orlopp. Orlopp has been serving as CFO, since March 2020 and has additionally held the role of CEO since October 1. The handover is planned to be completed by spring 2025 at the latest. Schmitt joins Commerzbank from Danske Bank, where he had been the Executive Vice President of Group Strategy and M&A.Reported Earnings • Nov 07Third quarter 2024 earnings: EPS and revenues exceed analyst expectationsThird quarter 2024 results: EPS: €0.53. Revenue: €2.43b (down 7.2% from 3Q 2023). Net income: €836.0m (down 4.8% from 3Q 2023). Profit margin: 34% (in line with 3Q 2023). Revenue exceeded analyst estimates by 9.5%. Earnings per share (EPS) also surpassed analyst estimates by 27%. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Banks industry in Europe.Price Target Changed • Oct 21Price target increased by 7.4% to €18.25Up from €16.99, the current price target is an average from 12 analysts. New target price is 9.7% above last closing price of €16.63. Stock is up 63% over the past year. The company is forecast to post earnings per share of €1.86 for next year compared to €1.63 last year.Price Target Changed • Oct 13Price target increased by 10.0% to €17.87Up from €16.25, the current price target is an average from 13 analysts. New target price is 7.2% above last closing price of €16.67. Stock is up 66% over the past year. The company is forecast to post earnings per share of €1.87 for next year compared to €1.63 last year.お知らせ • Sep 26+ 1 more updateCommerzbank AG Appoints Michael Kotzbauer as Deputy Chief Executive OfficerCommerzbank AG announced Michael Kotzbauer (56), member of the board of managing directors responsible for Corporate Clients, has been appointed as Deputy chief executive officer. He will receive a contract for 5 years, when entering their new position. The Supervisory Board aims for a transition in the near future.お知らせ • Sep 25Commerzbank Appoints Bettina Orlopp as CEOCommerzbank has appointed a new CEO. The firm has appointed Bettina Orlopp to the position. She is to assume the position soon and her appointment comes at a time when the bank is battling a hostile takeover move.お知らせ • Sep 14Commerzbank Reportedly Open to Tie-Up Talks with UniCreditCommerzbank AG (XTRA:CBK) is open to talks about a potential tie-up with UniCredit S.p.A. (BIT:UCG), according to people familiar with the discussions, after the Italian bank built a 9% stake in its German rival and announced it was taking regulatory steps to increase its stake further. UniCredit forked out up to EUR 1.4 billion to become the second- largest Commerzbank shareholder after the German government, acquiring a 4.5% stake from the Finance Agency on Tuesday night and a similar amount of shares on the open market. The move by UniCredit s chief executive Andrea Orcel, the highest profile dealmaker in European banking, could open the door to long-awaited banking consolidation on the continent. Berlin last week said it was planning to sell down its 16.5% stake in Commerzbank, which it has held since rescuing the lender during the financial crisis in 2009. UniCredit said 11 September 2024 it would submit regulatory filings for authorisation to potentially increase its stake in Commerzbank to more than 9.9% if and when necessary . The German government, whose stake has now fallen to 12%, has committed to a lock-up period of 90 days before selling any more Commerzbank shares. Future decisions would depend on the investment meeting UniCredit's strict financial parameters which have been clearly and consistently communicated to the market, UniCredit said. People familiar with Commerzbank's internal discussions told the Financial Times that the German lender had not previously been contacted by UniCredit and learnt about the transaction on 11 September 2024 morning via regulatory statements. But the people added that Commerzbank would assess UniCredit s plans with an open mind. In a brief statement at midday 11 September 2024, the German lender said it had taken note of UniCredit's announcement on 12 September 2024, and the move was testament to the progress made and the position of Commerzbank. The bank said its boards would continue to act in the best interest of all our shareholders and our key stakeholders such as employees and clients but declined to comment further. UniCredit said on 11 September 2024 morning that it would engage with Commerzbank AG to explore value-creating opportunities for all stakeholders in both banks. Shares in the German lender shot up 16% in early trading in Frankfurt on 11 September 2024, trading at the highest level since July with a market capitalisation of EUR 17.3 billion. UniCredit shares rose by as much as 1.95% in Milan, giving it a market value of close to EUR 60 billion.Valuation Update With 7 Day Price Move • Sep 13Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €15.09, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 191% over the past three years.お知らせ • Sep 11Commerzbank AG Announces Manfred Knof, CEO Not to Seek Extension of His ContractCommerzbank AG announced Manfred Knof, CEO of Commerzbank AG, has on 10 September 2024 informed Jens Weidmann, Chairman of the Supervisory Board, that he will fulfil his contract, which runs until the end of December 2025, but won’t be at the disposal of Commerzbank beyond that date. The Supervisory Board of Commerzbank AG will commence an orderly search process for the successor to the role of CEO immediately.Reported Earnings • Aug 08Second quarter 2024 earnings: Revenues exceed analyst expectationsSecond quarter 2024 results: Revenue: €2.47b (flat on 2Q 2023). Net income: €538.0m (up 45% from 2Q 2023). Profit margin: 22% (up from 15% in 2Q 2023). Revenue exceeded analyst estimates by 13%. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Banks industry in Europe.お知らせ • Aug 06+ 3 more updatesCommerzbank AG to Report Q4, 2024 Results on Feb 13, 2025Commerzbank AG announced that they will report Q4, 2024 results on Feb 13, 2025Price Target Changed • May 28Price target increased by 7.6% to €15.62Up from €14.52, the current price target is an average from 17 analysts. New target price is approximately in line with last closing price of €15.57. Stock is up 62% over the past year. The company is forecast to post earnings per share of €1.98 for next year compared to €1.63 last year.Reported Earnings • May 16First quarter 2024 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2024 results: EPS: €0.62 (up from €0.46 in 1Q 2023). Revenue: €2.67b (up 2.8% from 1Q 2023). Net income: €747.0m (up 29% from 1Q 2023). Profit margin: 28% (up from 22% in 1Q 2023). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 9.8%. Earnings per share (EPS) also surpassed analyst estimates by 32%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Apr 25Upcoming dividend of €0.35 per shareEligible shareholders must have bought the stock before 02 May 2024. Payment date: 06 May 2024. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (6.4%).お知らせ • Mar 22Commerzbank AG (XTRA:CBK) acquired 18% stake in Nixdorf Kapital AG.Commerzbank AG (XTRA:CBK) acquired an 18% stake in Nixdorf Kapital AG on March 21, 2024. Tim Oliver Brandi, Fabian Pfuhl, Kerstin Neighbour, Heiko Gemmel and Christine Borries of Hogan Lovells acted as legal advisor for Commerzbank.Commerzbank AG (XTRA:CBK) completed the acquisition of an 18% stake in Nixdorf Kapital AG on March 21, 2024.Reported Earnings • Mar 21Full year 2023 earnings: EPS and revenues miss analyst expectationsFull year 2023 results: EPS: €1.63 (up from €0.99 in FY 2022). Revenue: €9.92b (up 14% from FY 2022). Net income: €2.03b (up 63% from FY 2022). Profit margin: 21% (up from 14% in FY 2022). The increase in margin was driven by higher revenue. Cost-to-income ratio: 57.4% (down from 61.8% in FY 2022). Non-performing loans: 1.76% (down from 2.09% in FY 2022). Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 3.0%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth.Reported Earnings • Feb 18Full year 2023 earnings: Revenues miss analyst expectationsFull year 2023 results: Revenue: €9.84b (up 14% from FY 2022). Net income: €2.22b (up 79% from FY 2022). Profit margin: 23% (up from 14% in FY 2022). The increase in margin was driven by higher revenue. Cost-to-income ratio: 57.4% (down from 61.8% in FY 2022). Revenue missed analyst estimates by 1.9%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Banks industry in Europe.お知らせ • Jan 20Deutsche Bank Dismisses Merger RumoursGerman bank, Deutsche Bank Aktiengesellschaft (XTRA:DBK) has rejected rumours of its merger with Commerzbank AG (XTRA:CBK). Deutsche Bank CEO Christian Sewing rejected rumours of a Commerzbank merger. Reuters had reported earlier that the firms had resumed talks to merge. The firms had previously called off a merger proposal five years ago.お知らせ • Jan 18Commerzbank AG (XTRA:CBK) agreed to acquire 74.9% stake in Aquila Capital Investmentgesellschaft mbH from Aquila Capital.Commerzbank AG (XTRA:CBK) agreed to acquire 74.9% stake in Aquila Capital Investmentgesellschaft mbH from Aquila Capital on January 18, 2024. The remaining 25.1% are to remain with the current parent company Aquila Capital. The transaction is subject to regulatory approvals and is expected to close in the second quarter of 2024.お知らせ • Dec 08Commerzbank AG to Report Fiscal Year 2023 Results on Mar 19, 2024Commerzbank AG announced that they will report fiscal year 2023 results on Mar 19, 2024Reported Earnings • Nov 09Third quarter 2023 earnings: EPS and revenues exceed analyst expectationsThird quarter 2023 results: EPS: €0.52 (up from €0.18 in 3Q 2022). Revenue: €2.62b (up 51% from 3Q 2022). Net income: €878.0m (up 128% from 3Q 2022). Profit margin: 34% (up from 22% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth.お知らせ • Sep 28+ 4 more updatesCommerzbank AG to Report Q4, 2023 Results on Feb 15, 2024Commerzbank AG announced that they will report Q4, 2023 results on Feb 15, 2024お知らせ • Sep 12Supervisory Board Appoints Bernd Spalt as New Chief Risk Officer of Commerzbank AGAt its meeting on September 11, 2023, the Supervisory Board of Commerzbank has appointed Bernd Spalt as the new Chief Risk Officer to the Board of Management Directors, with effect from 1 January 2024. Spalt will succeed Marcus Chromik, who will - in line with his plans for his personal life - leave Commerzbank at the end of this year, as already announced in July 2022. The appointment of Bernd Spalt is still subject to the usual approval by the regulatory authority. Bernd Spalt, as a former member of the Board of Directors of Erste Group and Erste Bank Austria, has many years of experience in all areas of risk management. From 2020 to 2022, Spalt furthermore was Chief Executive Officer (CEO) of Erste Group Bank AG.Reported Earnings • Aug 05Second quarter 2023 earnings: Revenues exceed analyst expectationsSecond quarter 2023 results: Revenue: €2.42b (up 1.3% from 2Q 2022). Net income: €565.0m (up 102% from 2Q 2022). Profit margin: 23% (up from 12% in 2Q 2022). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 14%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Banks industry in Europe.お知らせ • Jun 01+ 1 more updateCommerzbank Ag Announces Executive ChangesCommerzbank AG announce that Jens Weidmann is the new Chairman of the Supervisory Board of Commerzbank. Following today’s Annual General Meeting (AGM), the Supervisory Board unanimously elected the former President of Deutsche Bundesbank as successor to Helmut Gottschalk. Previously, the shareholders had elected Weidmann to the committee by a large majority. In addition to Jens Weidmann, Harald Christ has also been newly elected to the Supervisory Board as a shareholder representative. Robin J. Stalker, like Helmut Gottschalk, did not run for election again and left the committee at the end of the AGM. The term of office of the members of the Supervisory Board is four years and ends with the AGM which resolves the ratification of actions for the 2026 financial year.Upcoming Dividend • May 25Upcoming dividend of €0.20 per share at 2.1% yieldEligible shareholders must have bought the stock before 01 June 2023. Payment date: 05 June 2023. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.3%).お知らせ • May 19Commerzbank AG (XTRA:CBK) announces an Equity Buyback for €122 million worth of its shares.Commerzbank AG (XTRA:CBK) announces a share repurchase program. Under the program, the company will repurchase up to €122 million worth of its shares.Valuation Update With 7 Day Price Move • Mar 14Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to €10.06, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 233% over the past three years.Price Target Changed • Feb 20Price target increased by 7.5% to €11.42Up from €10.62, the current price target is an average from 18 analysts. New target price is approximately in line with last closing price of €11.42. Stock is up 33% over the past year. The company is forecast to post earnings per share of €0.99 for next year compared to €0.23 last year.お知らせ • Feb 17Commerzbank AG Provides Earnings Guidance for the Year 2023Commerzbank AG provided earnings guidance for the year 2023. The company expects another demanding year in view of the challenging environment. It remains however optimistic that it will continue its strong business performance and thus make further progress towards its medium-term goals. The Bank anticipates a further increase in net interest income to well above €6.5 billion with clear additional upside potential. Net commission income is expected to remain stable. The Bank is aiming for a further reduction in total costs to €6.3 billion, even though the cost-income ratio is the key steering metric. On the assumption of using TLA, the Bank expects a risk result of less than minus €900 million.お知らせ • Feb 16Commerzbank AG Plans to Propose Dividend for Financial Year 2022Commerzbank AG plans to propose a dividend of 20 cent per share for the financial year 2022. With the approval of the Supervisory Board, the Board of Managing Directors of Commerzbank AG in addition applied for approval of a share buyback program in line with the capital return policy of Commerzbank which stipulates a 30% pay-out ratio for 2022. The execution of the share buyback program is subject to the regulatory approval by the European Central Bank (ECB) and the German Finance Agency.お知らせ • Jan 18Commerzbank AG to Report Fiscal Year 2022 Final Results on Mar 27, 2023Commerzbank AG announced that they will report fiscal year 2022 final results on Mar 27, 2023Valuation Update With 7 Day Price Move • Dec 21Investor sentiment improved over the past weekAfter last week's 16% share price gain to €8.95, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 65% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €16.46 per share.Reported Earnings • Aug 04Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindSecond quarter 2022 results: EPS: €0.22 (up from €0.52 loss in 2Q 2021). Revenue: €2.32b (up 24% from 2Q 2021). Net income: €470.0m (up €1.14b from 2Q 2021). Profit margin: 20% (up from net loss in 2Q 2021). The move to profitability was primarily driven by lower expenses. Revenue exceeded analyst estimates by 9.5%. Earnings per share (EPS) missed analyst estimates by 19%. Over the next year, revenue is forecast to grow 10%, compared to a 15% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.お知らせ • Aug 04+ 3 more updatesCommerzbank AG to Report Q1, 2023 Results on May 17, 2023Commerzbank AG announced that they will report Q1, 2023 results on May 17, 2023Reported Earnings • May 14First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2022 results: EPS: €0.24 (up from €0.11 in 1Q 2021). Revenue: €2.33b (flat on 1Q 2021). Net income: €298.0m (up 124% from 1Q 2021). Profit margin: 13% (up from 5.7% in 1Q 2021). Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 13%, compared to a 15% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance.Reported Earnings • Mar 30Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2021 results: EPS: €0.23 (up from €2.35 loss in FY 2020). Revenue: €8.01b (up 22% from FY 2020). Net income: €290.0m (up €3.24b from FY 2020). Profit margin: 3.6% (up from net loss in FY 2020). Cost-to-income ratio: 79.3% (down from 81.5% in FY 2020). Non-performing loans: 1.56% (down from 1.85% in FY 2020). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 6.2%, compared to a 8.7% growth forecast for the banks industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance.業績と収益の成長予測DB:CBK - アナリストの将来予測と過去の財務データ ( )EUR Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/202815,1834,514N/AN/A1012/31/202714,2123,875N/AN/A1212/31/202613,2683,300N/AN/A113/31/202611,5972,395N/AN/AN/A12/31/202511,4712,316-7,874-6,727N/A9/30/202511,3202,427N/AN/AN/A6/30/202511,0862,417-31,031-29,885N/A3/31/202510,7012,533N/AN/AN/A12/31/202410,4232,446-21,442-20,296N/A9/30/20249,8492,127N/AN/AN/A6/30/202410,0402,16920,70521,703N/A3/31/20249,9882,197N/AN/AN/A12/31/20239,9152,03019,28420,282N/A9/30/20239,9052,111N/AN/AN/A6/30/20239,0221,618-19,926-19,251N/A3/31/20238,9381,527N/AN/AN/A12/31/20228,6681,24525,18425,859N/A9/30/20228,3551,244N/AN/AN/A6/30/20228,5081,402-1,418-445N/A3/31/20228,001455N/AN/AN/A12/31/20218,003290-25,234-24,261N/A9/30/20217,567-2,731N/AN/AN/A6/30/20217,340-3,27723,36424,262N/A3/31/20217,372-2,480N/AN/AN/A12/31/20206,561-2,94832,77833,676N/A9/30/20207,071-27729,11229,811N/A6/30/20207,4792616,81617,515N/A3/31/20207,601133-4,659-3,960N/A12/31/20198,185603N/A-10,787N/A9/30/20198,123806N/A-2,358N/A6/30/20198,062734N/A11,070N/A3/31/20198,156776N/A8,780N/A12/31/20188,253872N/A-402N/A9/30/20188,018717N/A1,934N/A6/30/20188,346956N/A1,341N/A3/31/20188,14937N/A6,526N/A1/1/20188,19632N/A20,397N/A9/30/20178,630236N/A38,217N/A6/30/20178,456-519N/A44,538N/A3/31/20178,678336N/A32,668N/A12/31/20168,664279N/A7,251N/A9/30/20168,725289N/A-9,734N/A6/30/20168,734812N/A-29,459N/A3/31/20168,790915N/A-11,722N/A12/31/20159,2351,084N/A2,822N/A9/30/20158,633632N/A33,203N/A6/30/20158,527622N/A49,019N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: CBKの予測収益成長率 (年間14.7% ) は 貯蓄率 ( 1.9% ) を上回っています。収益対市場: CBKの収益 ( 14.7% ) German市場 ( 16.9% ) よりも低い成長が予測されています。高成長収益: CBKの収益は増加すると予測されていますが、大幅には増加しません。収益対市場: CBKの収益 ( 7.1% ) German市場 ( 6.8% ) よりも速いペースで成長すると予測されています。高い収益成長: CBKの収益 ( 7.1% ) 20%よりも低い成長が予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: CBKの 自己資本利益率 は、3年後には低くなると予測されています ( 14.2 %)。成長企業の発掘7D1Y7D1Y7D1YBanks 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/21 21:55終値2026/05/20 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Commerzbank AG 12 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。32 アナリスト機関Tomasz GrzelakBaader Helvea Equity ResearchChristian WeizBaader Helvea Equity ResearchJesús Gómez DominguezBanco Santander29 その他のアナリストを表示
Price Target Changed • Oct 21Price target increased by 7.4% to €18.25Up from €16.99, the current price target is an average from 12 analysts. New target price is 9.7% above last closing price of €16.63. Stock is up 63% over the past year. The company is forecast to post earnings per share of €1.86 for next year compared to €1.63 last year.
Price Target Changed • Oct 13Price target increased by 10.0% to €17.87Up from €16.25, the current price target is an average from 13 analysts. New target price is 7.2% above last closing price of €16.67. Stock is up 66% over the past year. The company is forecast to post earnings per share of €1.87 for next year compared to €1.63 last year.
Price Target Changed • May 28Price target increased by 7.6% to €15.62Up from €14.52, the current price target is an average from 17 analysts. New target price is approximately in line with last closing price of €15.57. Stock is up 62% over the past year. The company is forecast to post earnings per share of €1.98 for next year compared to €1.63 last year.
Price Target Changed • Feb 20Price target increased by 7.5% to €11.42Up from €10.62, the current price target is an average from 18 analysts. New target price is approximately in line with last closing price of €11.42. Stock is up 33% over the past year. The company is forecast to post earnings per share of €0.99 for next year compared to €0.23 last year.
お知らせ • Feb 17Commerzbank AG Provides Earnings Guidance for the Year 2023Commerzbank AG provided earnings guidance for the year 2023. The company expects another demanding year in view of the challenging environment. It remains however optimistic that it will continue its strong business performance and thus make further progress towards its medium-term goals. The Bank anticipates a further increase in net interest income to well above €6.5 billion with clear additional upside potential. Net commission income is expected to remain stable. The Bank is aiming for a further reduction in total costs to €6.3 billion, even though the cost-income ratio is the key steering metric. On the assumption of using TLA, the Bank expects a risk result of less than minus €900 million.
Declared Dividend • May 20Dividend increased to €1.10Dividend of €1.10 is 69% higher than last year. Ex-date: 21st May 2026 Payment date: 26th May 2026 Dividend yield will be 3.0%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (51% payout ratio) and is expected to be covered in 3 years' time (51% forecast payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 62% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • Apr 11Commerzbank AG, Annual General Meeting, May 20, 2026Commerzbank AG, Annual General Meeting, May 20, 2026, at 10:00 W. Europe Standard Time.
お知らせ • Apr 09UniCredit S.p.A. (BIT:UCG) cancelled the acquisition of remaining 73.98% stake in Commerzbank AG (XTRA:CBK).UniCredit S.p.A. (BIT:UCG) made a voluntary public takeover offer to acquire remaining 73.98% stake in Commerzbank AG (XTRA:CBK) for €25.7 billion on March 16, 2026. Subject to the offer conditions in the offer document, the Bidder intends to offer the minimum consideration prescribed under German law, which will finally be determined by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) and which the Bidder expects to be 0.485 new ordinary shares in UniCredit (UniCredit Offer Shares) for each tendered Commerzbank Share. The consummation of the Offer will be subject to certain closing conditions to be further detailed in the offer document. These will include merger control, foreign investment control, and EU foreign subsidies clearances, regulatory clearances (including, but not limited to, clearance by the European Central Bank and German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) in Germany) as well as other customary offer conditions. The Offer is expected to be formally launched at the beginning of May with an offer period of 4 weeks. Subject to the fulfilment or waiver by UniCredit of the conditions to the Offer, settlement is expected to be completed by the first half of 2027 after having obtained all necessary regulatory clearances, as will be further detailed in the offer document. As of April 7, 2026, Commerzbank currently sees no basis for a mutually agreed value-accretive transaction after interactions with UniCredit which did not demonstrated sufficient value upside potential for its shareholders beyond the current standalone strategy. UniCredit has also shown no willingness to offer Commerzbank shareholders a necessary adequate premium. Commerzbank will continue to focus on the successful implementation of its standalone strategy. Commerzbank remains open to discussions and proposals that create concrete value for its shareholders and stakeholders. UniCredit S.p.A. (BIT:UCG) cancelled the acquisition of remaining 73.98% stake in Commerzbank AG (XTRA:CBK) on April 7, 2026.
お知らせ • Mar 16UniCredit S.p.A. (BIT:UCG) made a voluntary public takeover offer to acquire remaining 73.98% stake in Commerzbank AG (XTRA:CBK) for €25.7 billion.UniCredit S.p.A. (BIT:UCG) made a voluntary public takeover offer to acquire remaining 73.98% stake in Commerzbank AG (XTRA:CBK) for €25.7 billion on March 16, 2026. Subject to the offer conditions in the offer document, the Bidder intends to offer the minimum consideration prescribed under German law, which will finally be determined by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) and which the Bidder expects to be 0.485 new ordinary shares in UniCredit (UniCredit Offer Shares) for each tendered Commerzbank Share. The consummation of the Offer will be subject to certain closing conditions to be further detailed in the offer document. These will include merger control, foreign investment control, and EU foreign subsidies clearances, regulatory clearances (including, but not limited to, clearance by the European Central Bank and German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) in Germany) as well as other customary offer conditions. The Offer is expected to be formally launched at the beginning of May with an offer period of 4 weeks. Subject to the fulfilment or waiver by UniCredit of the conditions to the Offer, settlement is expected to be completed by the first half of 2027 after having obtained all necessary regulatory clearances, as will be further detailed in the offer document.
お知らせ • Feb 12Commerzbank Ag Announces Resignation of Bernd Spalt as Chief Risk OfficerCommerzbank AG announced that Bernd Spalt, Chief Risk Officer will fulfil his current contract running until the end of 2026, but has decided, for personal reasons, not to seek an extension. He has informed the Supervisory Board about his decision in the meeting on 10 February. Bernd Spalt joined Commerzbank on 1 January 2024. He has established the risk function as a reliable partner supporting Commerzbank's strategic goals.
お知らせ • Feb 11Commerzbank AG announces Annual dividend, payable on May 25, 2026Commerzbank AG announced Annual dividend of EUR 1.1000 per share payable on May 25, 2026, ex-date on May 21, 2026 and record date on May 22, 2026.
お知らせ • Dec 10Commerzbank AG to Report Fiscal Year 2025 Final Results on Mar 25, 2026Commerzbank AG announced that they will report fiscal year 2025 final results on Mar 25, 2026
お知らせ • Oct 01Commerzbank AG (XTRA:CBK) commences an Equity Buyback Plan for 67,011,368 shares, representing 5.66% of its issued share capital, under the authorization approved on May 15, 2025.Commerzbank AG (XTRA:CBK) commences share repurchases on September 25, 2025, under the program mandated by the shareholders in the Annual General Meeting held on May 15, 2025. As per the mandate, the company is authorized to repurchase up to 67,011,368 shares, representing 5.66% of its issued share capital, such that the company’s holding in treasury does not exceed 10% of its issued share capital. The highest price at which the company may buy its own shares may not be more than 10% higher than the average value for the share price (closing auction prices or similar successor prices for the share in XETRA trading or a similar successor system to the XETRA system on the Frankfurt Stock Exchange) on the last three trading days prior to the purchase. The lowest price at which the company may buy its shares may not be more than 20% lower than the average value for the share price (closing auction prices or similar successor prices for the share in XETRA trading or a similar successor system to the XETRA system on the Frankfurt Stock Exchange) on the last three trading days prior to the purchase. The repurchased shares can be resold; can be used as consideration for the purpose of acquiring companies, parts of companies or participations in companies as well as other assets; used for a grant of a subscription right for holders of conversion rights or warrants issued or still be issued by the company or companies in which the company directly or indirectly holds a majority stake, which such holders would have after exercising the conversion right or the warrant or after fulfilling a corresponding duty to convert or exercise the warrant; or can be used as employee shares issued to employees of the company and companies in which the company directly or indirectly holds a majority stake; or can be used as a component in the compensation by granting shares to members of the Board of Managing Directors, members of senior management of employees of the above-mentioned companies; or will be cancelled. The authority will be valid till May 14, 2030. As of April 4, 2025, the company had 1,184,669,009 shares outstanding and 57,172,814 shares in treasury. On September 24, 2025, the company announces a share repurchase program. Under the program, the company will repurchase up to €1,000 million worth of its shares. The repurchased shares will be redeemed. The program has been approved by the European Central Bank (ECB) and the German Finance Agency. The program will begin on September 25, 2025, and will be conducted for a period until February 10, 2026. On the same day, the company also announced that it will repurchase up to €15.5 million worth of its shares. The purpose of the program is to use the repurchased shares for the planned employee share program.
お知らせ • Sep 05Commerzbank CEO Reportedly Rules Out UniCredit S.p.A. TakeoverCommerzbank AG's (XTRA:CBK) CEO Bettina Orlopp has confirmed that Italy’s UniCredit SpA (BIT:UCG) will not acquire the German lender, emphasizing that any potential deal rests with shareholders, Reuters reported on September 3, 2025. Speaking at a banking conference, Orlopp stressed Commerzbank’s independence, noting that any transaction would only proceed if it creates clear value, the media said. "Our shareholders will decide, and that's where the decision belongs," she was cited as saying. UniCredit has built a 26% stake in Commerzbank over the past year and has been pushing for a complete merger. It recently confirmed it does not plan to seek board representation and that it will closely monitor the German bank’s efforts to strengthen its business and generate shareholder value. Commerzbank and the German government, holding around 12% of the local bank, have consistently resisted the bid.
お知らせ • Aug 08+ 3 more updatesCommerzbank AG to Report Q1, 2026 Results on May 08, 2026Commerzbank AG announced that they will report Q1, 2026 results on May 08, 2026
お知らせ • May 17+ 1 more updateCommerzbank AG Approves Dividend for the 2024 Financial YearCommerzbank AG at its AGM held on 15 May 2025 approved the dividend for the 2024 financial year in the amount of 65 cents per share. The total dividend payment therefore amounts to €733 million.
お知らせ • Apr 07+ 1 more updateCommerzbank AG, Annual General Meeting, May 15, 2025Commerzbank AG, Annual General Meeting, May 15, 2025, at 10:00 W. Europe Standard Time.
お知らせ • Feb 26German Regulator Reportedly Assesses UniCredit Bid for Stake in CommerzbankItalian lender UniCredit S.p.A. (BIT:UCG) has reported its planned acquisition of a 29.99% minority stake in Germany's Commerzbank AG (XTRA:CBK) to the German Cartel Office for assessment, a spokesperson for the regulator said. The application, dated February 24, 2025, appears on a list of current merger control proceedings on the office's website. The German authority has up to one month to decide whether the purchase is problematic in a first-phase assessment procedure. UniCredit announced an initial 9% stake in Commerzbank in September, angering the Berlin government and the German lender, which has described the move as hostile and unilateral. The Italian bank has not backed down, however, and it is also awaiting European Central Bank approval for the stake it has built, largely using derivatives. UniCredit CEO Andrea Orcel has said he wanted to wait until a new government was in place in Berlin after Sunday's election before making an offer for the rest of Commerzbank. The planned stake reported to the German regulator sits just below the 30% threshold that would trigger a mandatory takeover offer under German rules. Orcel said this month that a decision on what to do with the Commerzbank stake would be taken in three to five quarters.
お知らせ • Feb 01Commerzbank AG Plans to Propose A DividendBased on the strong results, Commerzbank AG plans to propose a dividend of €0.65 per share (previous year: €0.35) to the Annual General Meeting.
お知らせ • Dec 13Commerzbank AG to Report Fiscal Year 2024 Results on Mar 26, 2025Commerzbank AG announced that they will report fiscal year 2024 results on Mar 26, 2025
お知らせ • Nov 22Commerzbank AG Announces Chief Financial Officer ChangesCommerzbank AG announced on that it has appointed Carsten Schmitt as chief financial officer to succeed Bettina Orlopp. Orlopp has been serving as CFO, since March 2020 and has additionally held the role of CEO since October 1. The handover is planned to be completed by spring 2025 at the latest. Schmitt joins Commerzbank from Danske Bank, where he had been the Executive Vice President of Group Strategy and M&A.
Reported Earnings • Nov 07Third quarter 2024 earnings: EPS and revenues exceed analyst expectationsThird quarter 2024 results: EPS: €0.53. Revenue: €2.43b (down 7.2% from 3Q 2023). Net income: €836.0m (down 4.8% from 3Q 2023). Profit margin: 34% (in line with 3Q 2023). Revenue exceeded analyst estimates by 9.5%. Earnings per share (EPS) also surpassed analyst estimates by 27%. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Banks industry in Europe.
Price Target Changed • Oct 21Price target increased by 7.4% to €18.25Up from €16.99, the current price target is an average from 12 analysts. New target price is 9.7% above last closing price of €16.63. Stock is up 63% over the past year. The company is forecast to post earnings per share of €1.86 for next year compared to €1.63 last year.
Price Target Changed • Oct 13Price target increased by 10.0% to €17.87Up from €16.25, the current price target is an average from 13 analysts. New target price is 7.2% above last closing price of €16.67. Stock is up 66% over the past year. The company is forecast to post earnings per share of €1.87 for next year compared to €1.63 last year.
お知らせ • Sep 26+ 1 more updateCommerzbank AG Appoints Michael Kotzbauer as Deputy Chief Executive OfficerCommerzbank AG announced Michael Kotzbauer (56), member of the board of managing directors responsible for Corporate Clients, has been appointed as Deputy chief executive officer. He will receive a contract for 5 years, when entering their new position. The Supervisory Board aims for a transition in the near future.
お知らせ • Sep 25Commerzbank Appoints Bettina Orlopp as CEOCommerzbank has appointed a new CEO. The firm has appointed Bettina Orlopp to the position. She is to assume the position soon and her appointment comes at a time when the bank is battling a hostile takeover move.
お知らせ • Sep 14Commerzbank Reportedly Open to Tie-Up Talks with UniCreditCommerzbank AG (XTRA:CBK) is open to talks about a potential tie-up with UniCredit S.p.A. (BIT:UCG), according to people familiar with the discussions, after the Italian bank built a 9% stake in its German rival and announced it was taking regulatory steps to increase its stake further. UniCredit forked out up to EUR 1.4 billion to become the second- largest Commerzbank shareholder after the German government, acquiring a 4.5% stake from the Finance Agency on Tuesday night and a similar amount of shares on the open market. The move by UniCredit s chief executive Andrea Orcel, the highest profile dealmaker in European banking, could open the door to long-awaited banking consolidation on the continent. Berlin last week said it was planning to sell down its 16.5% stake in Commerzbank, which it has held since rescuing the lender during the financial crisis in 2009. UniCredit said 11 September 2024 it would submit regulatory filings for authorisation to potentially increase its stake in Commerzbank to more than 9.9% if and when necessary . The German government, whose stake has now fallen to 12%, has committed to a lock-up period of 90 days before selling any more Commerzbank shares. Future decisions would depend on the investment meeting UniCredit's strict financial parameters which have been clearly and consistently communicated to the market, UniCredit said. People familiar with Commerzbank's internal discussions told the Financial Times that the German lender had not previously been contacted by UniCredit and learnt about the transaction on 11 September 2024 morning via regulatory statements. But the people added that Commerzbank would assess UniCredit s plans with an open mind. In a brief statement at midday 11 September 2024, the German lender said it had taken note of UniCredit's announcement on 12 September 2024, and the move was testament to the progress made and the position of Commerzbank. The bank said its boards would continue to act in the best interest of all our shareholders and our key stakeholders such as employees and clients but declined to comment further. UniCredit said on 11 September 2024 morning that it would engage with Commerzbank AG to explore value-creating opportunities for all stakeholders in both banks. Shares in the German lender shot up 16% in early trading in Frankfurt on 11 September 2024, trading at the highest level since July with a market capitalisation of EUR 17.3 billion. UniCredit shares rose by as much as 1.95% in Milan, giving it a market value of close to EUR 60 billion.
Valuation Update With 7 Day Price Move • Sep 13Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €15.09, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 191% over the past three years.
お知らせ • Sep 11Commerzbank AG Announces Manfred Knof, CEO Not to Seek Extension of His ContractCommerzbank AG announced Manfred Knof, CEO of Commerzbank AG, has on 10 September 2024 informed Jens Weidmann, Chairman of the Supervisory Board, that he will fulfil his contract, which runs until the end of December 2025, but won’t be at the disposal of Commerzbank beyond that date. The Supervisory Board of Commerzbank AG will commence an orderly search process for the successor to the role of CEO immediately.
Reported Earnings • Aug 08Second quarter 2024 earnings: Revenues exceed analyst expectationsSecond quarter 2024 results: Revenue: €2.47b (flat on 2Q 2023). Net income: €538.0m (up 45% from 2Q 2023). Profit margin: 22% (up from 15% in 2Q 2023). Revenue exceeded analyst estimates by 13%. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Banks industry in Europe.
お知らせ • Aug 06+ 3 more updatesCommerzbank AG to Report Q4, 2024 Results on Feb 13, 2025Commerzbank AG announced that they will report Q4, 2024 results on Feb 13, 2025
Price Target Changed • May 28Price target increased by 7.6% to €15.62Up from €14.52, the current price target is an average from 17 analysts. New target price is approximately in line with last closing price of €15.57. Stock is up 62% over the past year. The company is forecast to post earnings per share of €1.98 for next year compared to €1.63 last year.
Reported Earnings • May 16First quarter 2024 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2024 results: EPS: €0.62 (up from €0.46 in 1Q 2023). Revenue: €2.67b (up 2.8% from 1Q 2023). Net income: €747.0m (up 29% from 1Q 2023). Profit margin: 28% (up from 22% in 1Q 2023). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 9.8%. Earnings per share (EPS) also surpassed analyst estimates by 32%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Apr 25Upcoming dividend of €0.35 per shareEligible shareholders must have bought the stock before 02 May 2024. Payment date: 06 May 2024. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (6.4%).
お知らせ • Mar 22Commerzbank AG (XTRA:CBK) acquired 18% stake in Nixdorf Kapital AG.Commerzbank AG (XTRA:CBK) acquired an 18% stake in Nixdorf Kapital AG on March 21, 2024. Tim Oliver Brandi, Fabian Pfuhl, Kerstin Neighbour, Heiko Gemmel and Christine Borries of Hogan Lovells acted as legal advisor for Commerzbank.Commerzbank AG (XTRA:CBK) completed the acquisition of an 18% stake in Nixdorf Kapital AG on March 21, 2024.
Reported Earnings • Mar 21Full year 2023 earnings: EPS and revenues miss analyst expectationsFull year 2023 results: EPS: €1.63 (up from €0.99 in FY 2022). Revenue: €9.92b (up 14% from FY 2022). Net income: €2.03b (up 63% from FY 2022). Profit margin: 21% (up from 14% in FY 2022). The increase in margin was driven by higher revenue. Cost-to-income ratio: 57.4% (down from 61.8% in FY 2022). Non-performing loans: 1.76% (down from 2.09% in FY 2022). Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 3.0%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Feb 18Full year 2023 earnings: Revenues miss analyst expectationsFull year 2023 results: Revenue: €9.84b (up 14% from FY 2022). Net income: €2.22b (up 79% from FY 2022). Profit margin: 23% (up from 14% in FY 2022). The increase in margin was driven by higher revenue. Cost-to-income ratio: 57.4% (down from 61.8% in FY 2022). Revenue missed analyst estimates by 1.9%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Banks industry in Europe.
お知らせ • Jan 20Deutsche Bank Dismisses Merger RumoursGerman bank, Deutsche Bank Aktiengesellschaft (XTRA:DBK) has rejected rumours of its merger with Commerzbank AG (XTRA:CBK). Deutsche Bank CEO Christian Sewing rejected rumours of a Commerzbank merger. Reuters had reported earlier that the firms had resumed talks to merge. The firms had previously called off a merger proposal five years ago.
お知らせ • Jan 18Commerzbank AG (XTRA:CBK) agreed to acquire 74.9% stake in Aquila Capital Investmentgesellschaft mbH from Aquila Capital.Commerzbank AG (XTRA:CBK) agreed to acquire 74.9% stake in Aquila Capital Investmentgesellschaft mbH from Aquila Capital on January 18, 2024. The remaining 25.1% are to remain with the current parent company Aquila Capital. The transaction is subject to regulatory approvals and is expected to close in the second quarter of 2024.
お知らせ • Dec 08Commerzbank AG to Report Fiscal Year 2023 Results on Mar 19, 2024Commerzbank AG announced that they will report fiscal year 2023 results on Mar 19, 2024
Reported Earnings • Nov 09Third quarter 2023 earnings: EPS and revenues exceed analyst expectationsThird quarter 2023 results: EPS: €0.52 (up from €0.18 in 3Q 2022). Revenue: €2.62b (up 51% from 3Q 2022). Net income: €878.0m (up 128% from 3Q 2022). Profit margin: 34% (up from 22% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth.
お知らせ • Sep 28+ 4 more updatesCommerzbank AG to Report Q4, 2023 Results on Feb 15, 2024Commerzbank AG announced that they will report Q4, 2023 results on Feb 15, 2024
お知らせ • Sep 12Supervisory Board Appoints Bernd Spalt as New Chief Risk Officer of Commerzbank AGAt its meeting on September 11, 2023, the Supervisory Board of Commerzbank has appointed Bernd Spalt as the new Chief Risk Officer to the Board of Management Directors, with effect from 1 January 2024. Spalt will succeed Marcus Chromik, who will - in line with his plans for his personal life - leave Commerzbank at the end of this year, as already announced in July 2022. The appointment of Bernd Spalt is still subject to the usual approval by the regulatory authority. Bernd Spalt, as a former member of the Board of Directors of Erste Group and Erste Bank Austria, has many years of experience in all areas of risk management. From 2020 to 2022, Spalt furthermore was Chief Executive Officer (CEO) of Erste Group Bank AG.
Reported Earnings • Aug 05Second quarter 2023 earnings: Revenues exceed analyst expectationsSecond quarter 2023 results: Revenue: €2.42b (up 1.3% from 2Q 2022). Net income: €565.0m (up 102% from 2Q 2022). Profit margin: 23% (up from 12% in 2Q 2022). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 14%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Banks industry in Europe.
お知らせ • Jun 01+ 1 more updateCommerzbank Ag Announces Executive ChangesCommerzbank AG announce that Jens Weidmann is the new Chairman of the Supervisory Board of Commerzbank. Following today’s Annual General Meeting (AGM), the Supervisory Board unanimously elected the former President of Deutsche Bundesbank as successor to Helmut Gottschalk. Previously, the shareholders had elected Weidmann to the committee by a large majority. In addition to Jens Weidmann, Harald Christ has also been newly elected to the Supervisory Board as a shareholder representative. Robin J. Stalker, like Helmut Gottschalk, did not run for election again and left the committee at the end of the AGM. The term of office of the members of the Supervisory Board is four years and ends with the AGM which resolves the ratification of actions for the 2026 financial year.
Upcoming Dividend • May 25Upcoming dividend of €0.20 per share at 2.1% yieldEligible shareholders must have bought the stock before 01 June 2023. Payment date: 05 June 2023. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.3%).
お知らせ • May 19Commerzbank AG (XTRA:CBK) announces an Equity Buyback for €122 million worth of its shares.Commerzbank AG (XTRA:CBK) announces a share repurchase program. Under the program, the company will repurchase up to €122 million worth of its shares.
Valuation Update With 7 Day Price Move • Mar 14Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to €10.06, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 233% over the past three years.
Price Target Changed • Feb 20Price target increased by 7.5% to €11.42Up from €10.62, the current price target is an average from 18 analysts. New target price is approximately in line with last closing price of €11.42. Stock is up 33% over the past year. The company is forecast to post earnings per share of €0.99 for next year compared to €0.23 last year.
お知らせ • Feb 17Commerzbank AG Provides Earnings Guidance for the Year 2023Commerzbank AG provided earnings guidance for the year 2023. The company expects another demanding year in view of the challenging environment. It remains however optimistic that it will continue its strong business performance and thus make further progress towards its medium-term goals. The Bank anticipates a further increase in net interest income to well above €6.5 billion with clear additional upside potential. Net commission income is expected to remain stable. The Bank is aiming for a further reduction in total costs to €6.3 billion, even though the cost-income ratio is the key steering metric. On the assumption of using TLA, the Bank expects a risk result of less than minus €900 million.
お知らせ • Feb 16Commerzbank AG Plans to Propose Dividend for Financial Year 2022Commerzbank AG plans to propose a dividend of 20 cent per share for the financial year 2022. With the approval of the Supervisory Board, the Board of Managing Directors of Commerzbank AG in addition applied for approval of a share buyback program in line with the capital return policy of Commerzbank which stipulates a 30% pay-out ratio for 2022. The execution of the share buyback program is subject to the regulatory approval by the European Central Bank (ECB) and the German Finance Agency.
お知らせ • Jan 18Commerzbank AG to Report Fiscal Year 2022 Final Results on Mar 27, 2023Commerzbank AG announced that they will report fiscal year 2022 final results on Mar 27, 2023
Valuation Update With 7 Day Price Move • Dec 21Investor sentiment improved over the past weekAfter last week's 16% share price gain to €8.95, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 65% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €16.46 per share.
Reported Earnings • Aug 04Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindSecond quarter 2022 results: EPS: €0.22 (up from €0.52 loss in 2Q 2021). Revenue: €2.32b (up 24% from 2Q 2021). Net income: €470.0m (up €1.14b from 2Q 2021). Profit margin: 20% (up from net loss in 2Q 2021). The move to profitability was primarily driven by lower expenses. Revenue exceeded analyst estimates by 9.5%. Earnings per share (EPS) missed analyst estimates by 19%. Over the next year, revenue is forecast to grow 10%, compared to a 15% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.
お知らせ • Aug 04+ 3 more updatesCommerzbank AG to Report Q1, 2023 Results on May 17, 2023Commerzbank AG announced that they will report Q1, 2023 results on May 17, 2023
Reported Earnings • May 14First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2022 results: EPS: €0.24 (up from €0.11 in 1Q 2021). Revenue: €2.33b (flat on 1Q 2021). Net income: €298.0m (up 124% from 1Q 2021). Profit margin: 13% (up from 5.7% in 1Q 2021). Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 13%, compared to a 15% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance.
Reported Earnings • Mar 30Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2021 results: EPS: €0.23 (up from €2.35 loss in FY 2020). Revenue: €8.01b (up 22% from FY 2020). Net income: €290.0m (up €3.24b from FY 2020). Profit margin: 3.6% (up from net loss in FY 2020). Cost-to-income ratio: 79.3% (down from 81.5% in FY 2020). Non-performing loans: 1.56% (down from 1.85% in FY 2020). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 6.2%, compared to a 8.7% growth forecast for the banks industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance.