View ValuationCommerzbank 향후 성장Future 기준 점검 3/6Commerzbank (는) 각각 연간 14.7% 및 7.1% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 17.4% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 14.2% 로 예상됩니다.핵심 정보14.7%이익 성장률17.42%EPS 성장률Banks 이익 성장8.2%매출 성장률7.1%향후 자기자본이익률14.18%애널리스트 커버리지Good마지막 업데이트19 May 2026최근 향후 성장 업데이트업데이트 없음모든 업데이트 보기Recent updatesDeclared Dividend • May 20Dividend of €1.10 announcedShareholders will receive a dividend of €1.10. Ex-date: 21st May 2026 Payment date: 26th May 2026 Dividend yield will be 0.008%, 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.공시 • Apr 11Commerzbank AG, Annual General Meeting, May 20, 2026Commerzbank AG, Annual General Meeting, May 20, 2026, at 10:00 W. Europe Standard Time.공시 • 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.Buy Or Sell Opportunity • Mar 31Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 15% to Ft11,895. The fair value is estimated to be Ft15,149, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 6.7% per annum. Earnings are also forecast to grow by 12% per annum over the same time period.Reported Earnings • Mar 26Full year 2025 earnings releasedFull year 2025 results: Revenue: €11.5b (up 9.9% from FY 2024). Net income: €2.63b (up 6.5% from FY 2024). Profit margin: 23% (in line with FY 2024). Cost-to-income ratio: 54.8% (down from 56.2% in FY 2024). Non-performing loans: 1.99% (up from 1.94% in FY 2024). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Banks industry in Europe.New Risk • Mar 18New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hungarian stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.3% average weekly change).공시 • 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.Buy Or Sell Opportunity • Mar 12Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 11% to Ft11,810. The fair value is estimated to be Ft14,827, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has grown by 22%. For the next 3 years, revenue is forecast to grow by 6.8% per annum. Earnings are also forecast to grow by 10% per annum over the same time period.Reported Earnings • Feb 13Full year 2025 earnings releasedFull year 2025 results: Revenue: €11.5b (up 9.9% from FY 2024). Net income: €2.63b (up 6.5% from FY 2024). Profit margin: 23% (in line with FY 2024). Cost-to-income ratio: 57.0% (up from 56.2% in FY 2024). Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Banks industry in Europe.Declared Dividend • Feb 12Dividend of €1.10 announcedShareholders will receive a dividend of €1.10. Ex-date: 21st May 2026 Payment date: 25th May 2026 Dividend yield will be 0.008%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by earnings (31% payout ratio) and is expected to be well covered in 3 years' time (47% forecast payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 64% over the next 3 years, which should provide support to the dividend and adequate earnings cover.공시 • 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.공시 • 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.Buy Or Sell Opportunity • Dec 13Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 3.3% to Ft13,330. The fair value is estimated to be Ft11,101, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.2% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 6.5% per annum. Earnings are also forecast to grow by 15% per annum over the same time period.공시 • 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, 2026Buy Or Sell Opportunity • Nov 26Now 24% overvaluedThe stock has been flat over the last 90 days, currently trading at Ft12,965. The fair value is estimated to be Ft10,425, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.2% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 6.5% per annum. Earnings are also forecast to grow by 15% per annum over the same time period.Buy Or Sell Opportunity • Nov 10Now 23% overvaluedOver the last 90 days, the stock has fallen 9.1% to Ft12,925. The fair value is estimated to be Ft10,510, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.2% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 6.5% per annum. Earnings are also forecast to grow by 15% per annum over the same time period.Reported Earnings • Nov 08Third quarter 2025 earnings released: EPS: €0.51 (vs €0.53 in 3Q 2024)Third quarter 2025 results: EPS: €0.51. Revenue: €2.66b (up 9.6% from 3Q 2024). Net income: €846.0m (up 1.2% from 3Q 2024). Profit margin: 32% (down from 34% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Banks industry in Europe.공시 • 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.공시 • 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.공시 • 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, 2026공시 • 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.공시 • 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.Buy Or Sell Opportunity • Apr 03Now 22% undervaluedOver the last 90 days, the stock has risen 33% to Ft8,650. The fair value is estimated to be Ft11,048, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.1% over the last 3 years. Earnings per share has grown by 45%. For the next 3 years, revenue is forecast to grow by 7.2% per annum. Earnings are also forecast to grow by 11% per annum over the same time period.Reported Earnings • Mar 28Full year 2024 earnings released: EPS: €2.08 (vs €1.63 in FY 2023)Full year 2024 results: EPS: €2.08 (up from €1.63 in FY 2023). Revenue: €10.4b (up 5.1% from FY 2023). Net income: €2.47b (up 21% from FY 2023). Profit margin: 24% (up from 21% in FY 2023). Cost-to-income ratio: 56.2% (down from 57.4% in FY 2023). Non-performing loans: 1.94% (up from 1.76% in FY 2023). Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 45% per year whereas the company’s share price has increased by 49% per year.공시 • 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.Reported Earnings • Feb 14Full year 2024 earnings releasedFull year 2024 results: Revenue: €10.4b (up 4.5% from FY 2023). Net income: €2.68b (up 32% from FY 2023). Profit margin: 26% (up from 21% in FY 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Banks industry in Europe.공시 • 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.공시 • 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, 2025공시 • Aug 06Commerzbank AG to Report Q1, 2025 Results on May 09, 2025Commerzbank AG announced that they will report Q1, 2025 results on May 09, 2025공시 • 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.이익 및 매출 성장 예측BUSE:COMMERZBANK - 애널리스트 향후 추정치 및 과거 재무 데이터 (EUR Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/202815,1834,514N/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/A더 보기애널리스트 향후 성장 전망수입 대 저축률: COMMERZBANK 의 연간 예상 수익 증가율(14.7%)이 saving rate(6.7%)보다 높습니다.수익 vs 시장: COMMERZBANK 의 연간 수익(14.7%)이 Hungarian 시장(12.3%)보다 빠르게 성장할 것으로 예상됩니다.고성장 수익: COMMERZBANK 의 수입은 증가할 것으로 예상되지만 상당히 증가하지는 않을 것입니다.수익 대 시장: COMMERZBANK 의 수익(연간 7.1%)이 Hungarian 시장(연간 2.3%)보다 빠르게 성장할 것으로 예상됩니다.고성장 매출: COMMERZBANK 의 수익(연간 7.1%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: COMMERZBANK의 자본 수익률은 3년 후 14.2%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YBanks 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/24 06:25종가2026/05/20 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Commerzbank AG는 32명의 분석가가 다루고 있습니다. 이 중 12명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Tomasz GrzelakBaader Helvea Equity ResearchChristian WeizBaader Helvea Equity ResearchJesús Gómez DominguezBanco Santander29명의 분석가 더 보기
Declared Dividend • May 20Dividend of €1.10 announcedShareholders will receive a dividend of €1.10. Ex-date: 21st May 2026 Payment date: 26th May 2026 Dividend yield will be 0.008%, 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.
공시 • Apr 11Commerzbank AG, Annual General Meeting, May 20, 2026Commerzbank AG, Annual General Meeting, May 20, 2026, at 10:00 W. Europe Standard Time.
공시 • 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.
Buy Or Sell Opportunity • Mar 31Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 15% to Ft11,895. The fair value is estimated to be Ft15,149, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 6.7% per annum. Earnings are also forecast to grow by 12% per annum over the same time period.
Reported Earnings • Mar 26Full year 2025 earnings releasedFull year 2025 results: Revenue: €11.5b (up 9.9% from FY 2024). Net income: €2.63b (up 6.5% from FY 2024). Profit margin: 23% (in line with FY 2024). Cost-to-income ratio: 54.8% (down from 56.2% in FY 2024). Non-performing loans: 1.99% (up from 1.94% in FY 2024). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Banks industry in Europe.
New Risk • Mar 18New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hungarian stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.3% average weekly change).
공시 • 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.
Buy Or Sell Opportunity • Mar 12Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 11% to Ft11,810. The fair value is estimated to be Ft14,827, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has grown by 22%. For the next 3 years, revenue is forecast to grow by 6.8% per annum. Earnings are also forecast to grow by 10% per annum over the same time period.
Reported Earnings • Feb 13Full year 2025 earnings releasedFull year 2025 results: Revenue: €11.5b (up 9.9% from FY 2024). Net income: €2.63b (up 6.5% from FY 2024). Profit margin: 23% (in line with FY 2024). Cost-to-income ratio: 57.0% (up from 56.2% in FY 2024). Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Banks industry in Europe.
Declared Dividend • Feb 12Dividend of €1.10 announcedShareholders will receive a dividend of €1.10. Ex-date: 21st May 2026 Payment date: 25th May 2026 Dividend yield will be 0.008%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by earnings (31% payout ratio) and is expected to be well covered in 3 years' time (47% forecast payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 64% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
공시 • 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.
공시 • 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.
Buy Or Sell Opportunity • Dec 13Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 3.3% to Ft13,330. The fair value is estimated to be Ft11,101, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.2% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 6.5% per annum. Earnings are also forecast to grow by 15% per annum over the same time period.
공시 • 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
Buy Or Sell Opportunity • Nov 26Now 24% overvaluedThe stock has been flat over the last 90 days, currently trading at Ft12,965. The fair value is estimated to be Ft10,425, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.2% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 6.5% per annum. Earnings are also forecast to grow by 15% per annum over the same time period.
Buy Or Sell Opportunity • Nov 10Now 23% overvaluedOver the last 90 days, the stock has fallen 9.1% to Ft12,925. The fair value is estimated to be Ft10,510, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.2% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 6.5% per annum. Earnings are also forecast to grow by 15% per annum over the same time period.
Reported Earnings • Nov 08Third quarter 2025 earnings released: EPS: €0.51 (vs €0.53 in 3Q 2024)Third quarter 2025 results: EPS: €0.51. Revenue: €2.66b (up 9.6% from 3Q 2024). Net income: €846.0m (up 1.2% from 3Q 2024). Profit margin: 32% (down from 34% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Banks industry in Europe.
공시 • 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.
공시 • 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.
공시 • 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
공시 • 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.
공시 • 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.
Buy Or Sell Opportunity • Apr 03Now 22% undervaluedOver the last 90 days, the stock has risen 33% to Ft8,650. The fair value is estimated to be Ft11,048, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.1% over the last 3 years. Earnings per share has grown by 45%. For the next 3 years, revenue is forecast to grow by 7.2% per annum. Earnings are also forecast to grow by 11% per annum over the same time period.
Reported Earnings • Mar 28Full year 2024 earnings released: EPS: €2.08 (vs €1.63 in FY 2023)Full year 2024 results: EPS: €2.08 (up from €1.63 in FY 2023). Revenue: €10.4b (up 5.1% from FY 2023). Net income: €2.47b (up 21% from FY 2023). Profit margin: 24% (up from 21% in FY 2023). Cost-to-income ratio: 56.2% (down from 57.4% in FY 2023). Non-performing loans: 1.94% (up from 1.76% in FY 2023). Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 45% per year whereas the company’s share price has increased by 49% per year.
공시 • 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.
Reported Earnings • Feb 14Full year 2024 earnings releasedFull year 2024 results: Revenue: €10.4b (up 4.5% from FY 2023). Net income: €2.68b (up 32% from FY 2023). Profit margin: 26% (up from 21% in FY 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Banks industry in Europe.
공시 • 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.
공시 • 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
공시 • Aug 06Commerzbank AG to Report Q1, 2025 Results on May 09, 2025Commerzbank AG announced that they will report Q1, 2025 results on May 09, 2025
공시 • 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.