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Commerzbank AG
(OTC:CRZBY)
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Rating:68Neutral
Price Target:
$54.00
â–²(16.23% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by a constructive earnings-call outlook (confirmed guidance, strong profitability metrics, and significant planned capital returns) and supportive technical trend signals (price above key moving averages, positive MACD). These positives are moderated by only mid-range underlying financial statement strength due to 2025 revenue weakness, cash-flow volatility, and leverage concerns, while valuation appears fair rather than notably cheap.
Positive Factors
Strong earnings growth
The record first-half result shows that Commerzbank is converting business activity into stronger earnings, not merely expanding revenue. Higher operating profit and net income provide greater capacity to invest, strengthen capital, and sustain performance over the coming quarters.
Negative Factors
Revenue momentum weakness
The sharp 2025 revenue decline raises questions about how durable the bank’s earnings trajectory is, even though margins remained strong. If top-line pressure persists, it could limit operating leverage and make future profit targets more dependent on cost control.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong earnings growth
The record first-half result shows that Commerzbank is converting business activity into stronger earnings, not merely expanding revenue. Higher operating profit and net income provide greater capacity to invest, strengthen capital, and sustain performance over the coming quarters.
Read all positive factors
Commerzbank AG (CRZBY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$53.51B
Dividend Yield2.59%
Average Volume (3M)2.40K
Price to Earnings (P/E)15.2
Beta (1Y)0.67
Revenue Growth4.41%
EPS Growth29.50%
CountryUS
Employees40,812
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)2.85
Shares Outstanding1,080,847,000
10 Day Avg. Volume1,432
30 Day Avg. Volume2,401
Financial Highlights & Ratios
PEG Ratio-3.46
Price to Book (P/B)1.20
Price to Sales (P/S)3.80
P/FCF Ratio0.84
Enterprise Value/Market Cap>-0.01
Enterprise Value/Revenue>-0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)3.62
Revenue Forecast (FY)$15.39B
Commerzbank AG Business Overview & Revenue Model
Company Description
Commerzbank AG is a leading global financial institution providing a comprehensive array of banking and capital market services. Its clientele is diverse, spanning individual consumers, small businesses, multinational corporations, financial servi...
How the Company Makes Money
Commerzbank primarily makes money by earning (1) net interest income and (2) fee and commission income, supplemented by trading/investment-related results and other operating income.
1) Net interest income (interest margin): The bank takes deposi...
Commerzbank AG Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call presents a strong operational and financial performance with multiple record metrics (revenues, operating result, net result), disciplined capital return plans (EUR 3.2bn planned return, ECB-approved EUR 1.2bn buyback), solid capital ratios (CET1 14.4%) and material strategic progress (AI rollout, replication portfolio, RWA relief potential). Key risks are takeover-related uncertainty and potential restructuring/integration challenges with UniCredit, mBank NII headwinds from lower Polish rates, intensified deposit competition and a modest rise in nonperforming exposures. Overall, the positives — strong profitability, clear capital distribution framework, and tangible transformation gains — materially outweigh the manageable headwinds and uncertainty.Positive Updates
Record H1 Financial Results
H1 2026 revenues EUR 6.5bn (+7% YoY); operating result EUR 2.7bn (+14% YoY); record net result EUR 1.8bn (+40% YoY).
Negative Updates
Takeover-Related Uncertainty
UniCredit obtained access to almost 50% of voting rights; only 2.7% of independent shareholders tendered shares; ongoing takeover dialogue introduces governance and execution risk and uncertainty for clients, employees and minority shareholders.
Read all updates
Q2-2026 Updates
Positive
Negative
Record H1 Financial Results
H1 2026 revenues EUR 6.5bn (+7% YoY); operating result EUR 2.7bn (+14% YoY); record net result EUR 1.8bn (+40% YoY).
Read all positive updates
Company Guidance
Management confirmed unchanged 2026 guidance: total revenues of approximately €13.2bn, net interest income around €8.6bn, a risk result of ~€850m, group costs of about €7bn (targeting a cost‑income ratio of ~53% or ~51% excl. compulsory contributions) and a net result of at least €3.4bn (net RoTE ~12%); CET1 stood at 14.4% in Q2 and is expected to be above 14% at year‑end, with the Board committed to a 100% payout after AT1 coupons (planned 2026 capital return €3.2bn, total yield ~8%, with an ECB‑approved share buyback of up to €1.2bn and a dividend share of at least 50%). Looking further, management reiterated Momentum 2030 targets (net RoTE ~17% in 2028 and ~21% in 2030, cost‑income ratio improving to ~43%), the replication portfolio adding €400–600m NII p.a. to 2030, cumulative AI investments of ~€600m to 2030 with ~€500m p.a. value contribution expected, and an anticipated mid‑ to high‑single‑digit‑billion RWA reduction from IRB scope changes phasing in by end‑Q2 2027.Commerzbank AG Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
55
Neutral
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.74B | 10.69B | 25.25B | 21.71B | 14.26B | 12.06B |
| Gross Profit | 12.06B | 10.00B | 12.36B | 11.81B | 10.39B | 9.64B |
| EBITDA | 4.84B | 4.79B | 4.64B | 4.17B | 2.82B | 980.00M |
| Net Income | 3.16B | 2.63B | 2.68B | 2.22B | 1.44B | 430.00M |
Balance Sheet | ||||||
| Total Assets | 618.80B | 603.28B | 554.65B | 517.17B | 477.43B | 467.41B |
| Cash, Cash Equivalents and Short-Term Investments | 58.94B | 97.96B | 89.72B | 102.69B | 86.65B | 60.21B |
| Total Debt | 3.51B | 142.65B | 54.89B | 48.25B | 43.77B | 43.84B |
| Total Liabilities | 583.63B | 567.93B | 518.93B | 484.16B | 446.50B | 437.58B |
| Stockholders Equity | 33.77B | 33.81B | 34.47B | 31.99B | 30.05B | 28.85B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 48.63B | -21.46B | 19.28B | 25.18B | -25.23B |
| Operating Cash Flow | 0.00 | 49.73B | -20.32B | 20.28B | 25.86B | -24.26B |
| Investing Cash Flow | 0.00 | -57.15B | -1.31B | -920.00M | -713.00M | -804.00M |
| Financing Cash Flow | 0.00 | -3.33B | 565.00M | -1.29B | 178.00M | -1.21B |
Commerzbank AG Technical Analysis
Positive
46.46
Price Trends
45.06
Positive
43.45
Positive
41.16
Positive
Market Momentum
1.25
Negative
68.59
Neutral
87.63
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CRZBY, the sentiment is Positive. The current price of 46.46 is below the 20-day moving average (MA) of 47.06, above the 50-day MA of 45.06, and above the 200-day MA of 41.16, indicating a bullish trend. The MACD of 1.25 indicates Negative momentum. The RSI at 68.59 is Neutral, neither overbought nor oversold. The STOCH value of 87.63 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CRZBY.
Commerzbank AG Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $97.44B | 13.43 | 12.34% | 2.91% | 5.73% | 24.15% | |
72 Outperform | $61.57B | 11.43 | 9.01% | 4.13% | 0.36% | 18.53% | |
72 Outperform | $74.89B | 7.35 | 16.16% | 5.00% | 6.60% | 29.61% | |
68 Neutral | $53.51B | 15.21 | 9.51% | 2.59% | 4.41% | 29.50% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $49.63B | 18.49 | 8.43% | 2.92% | 17.05% | -8.65% | |
62 Neutral | $86.95B | 13.79 | 11.05% | 3.56% | -13.48% | 25.29% |
* Financial Sector Average
CRZBY
Commerzbank AG
49.63
11.54
30.29%
TFC
Truist Financial
50.40
7.46
17.37%
FITB
Fifth Third Bancorp
54.72
10.85
24.73%
LYG
Lloyds Banking
6.01
1.55
34.60%
PNC
PNC Financial
244.24
48.23
24.61%
NWG
NatWest Group
18.89
5.00
36.01%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.