Rankings Financial data & insurance broking Commerzbank

Commerzbank

Financial data & insurance broking · GermanyRank 56 of 829Prices 3 Nov 2026Model 1.4

15070100

A strong score: the model found few serious problems, but analysts see limited upside from here.

Biggest deductions

Multiples vs own history−9
UniCredit takeover and minority shareholders−6
Peers−3

Strengths

Raised guidance+2
Dividend and buybacks+2

How the score is built

From 100 to 86, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.

100Start

86Score

Hover or select a step to see what drove it. Steps with findings open them below.

Key numbers

As of 3 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.

Price: 37.58 EUR
Median analyst target: 42.00 EUR
Upside to median: +11.8%
Analysts: 13
Target range: 31.60 – 45.00 EUR
52-week change: +19%
P/E (trailing): 14.4
Forward P/E: 10.6
PEG: 0.49

Findings

Every deduction and every plus, with its source. Open a step to read them.

Business

Is the company getting stronger, not just bigger? · 2 findings−4 of −30

Profitability
ROE 9.7% TTM after 1.2–8.3% in 2021–2025; RoTE 12.6% in Q2 is a record, but still below the Nordic large banks (about 14–15%).
stockanalysis.com
−2
Quality of growth
EPS stood still in 2025 (2.06 vs 2.06), and Q2 2026's +94% in net income is measured against a weak quarter; the earnings lift since 2021 (EPS 0.23 → 2.60) rests mainly on higher euro interest rates and a short track record.
stockanalysis.com
−2

Price

Today's multiples against the company's own history and its peers. · 2 findings−12 of −35

Multiples vs own history
P/B 1.29 vs 0.28–1.12 in 2021–2025 (record) and trailing P/E 16.3 vs 6.6–8.9 in 2022–2024; forward P/E 12.0. The share price has risen from 6.04 to 42.38 EUR since 2021 (7x), while EPS has risen from 0.99 (2022) to 2.60.
stockanalysis.com
−9
Peers
P/B 1.29 and forward P/E 12.0 vs Deutsche Bank (0.73/8.5) at almost the same ROE (9.7% vs 8.9%); the premium is a takeover premium, not an expression of higher returns.
stockanalysis.com
−3

Cracks

Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 1 finding−6 of −35

UniCredit takeover and minority shareholders
UniCredit owns 47.6% of the capital and about 49.7% of the votes; the exchange offer (0.485 UniCredit shares, about 4% premium at launch) got only 17.6% acceptance. The state (about 12%) and finance minister Klingbeil demand that the bank remain listed, and regulatory approval is expected at the earliest late in 2026. Without a deal the speculative premium may disappear; with a deal the minority risks a squeeze-out on UniCredit's terms.
ad-hoc-news.de
−6

Plus

Only documented strengths. · 2 findings+4 of +15

Raised guidance
Record H1 with net income of 1.8 bn EUR (+40%) and Q2 +94% to 898 m; 2026 expectation for net income raised to at least 3.4 bn EUR.
kapitalmarktexperten.de
+2
Dividend and buybacks
Dividend of EUR 1.10 (+69%) and share count −4.8% over a year; for 2026 EUR 3.2bn is planned in dividend and buybacks (of which a new buyback of 1.2bn) vs. a guided net profit of at least 3.4bn; CET1 14.4%.
wealthbriefing.com
+2

Caveats

What the score does not capture, or where the data is weak.

Bank: EV, ROIC and FCF are not meaningful; valuation on P/B and P/E, and the payout is held against net profit. The share price (EUR 42.4) is driven by UniCredit's takeover attempt (47.6% of capital, about 49.7% of votes) and is above analysts' average price target (41.26). Payout TTM (dividend 1.50 + buyback 1.53 = EUR 3.03bn) was slightly above net profit (2.87bn); a plus is given based on the 2026 plan (3.2bn vs at least 3.4bn). mBank (Poland, CHF loans), credit quality in German corporates and cost/income have not been investigated separately. Q3 results 5 Nov.