XTRA:CBKBanks
Commerzbank (XTRA:CBK) Stock Premium Hinges On Record Profits Holding Up
Commerzbank stock came into this earnings day already on a solid run, with the shares around €38.94 after a roughly 10% gain over the past three months. The market had priced in strength. The headline today is that Commerzbank delivered record first half results, with Q2 net income of €897m on revenue of €3.1b and a group return on tangible equity near 12.5%.
The short term story is momentum. The longer term question is whether a bank earning almost €2.73 of trailing twelve month earnings per...