Commerzbank Keeps Buying Back Its Own Stock While Wall Street Rethinks the Price
Published on 11/07/2026 at 21:40 | Editorial boerse-global.de
Commerzbank bought roughly 3.3 million of its own shares between 26 and 30 October, the lender said on Monday, extending a repurchase programme that began on 4 September. Cumulative purchases through 30 October now stand at about 21.3 million shares, a figure that folds in the prior week's buying.
The buyback runs alongside a broader capital-return ambition: the bank is targeting roughly EUR 3.2 billion in distributions for the 2026 financial year, a goal it set out on Thursday. One is a plan; the other is already in motion.
A 45% Jump in Quarterly Profit — and a Muted Reception
Thursday's third-quarter 2026 results showed net profit up 45% at EUR 859 million. Operating profit climbed 25% to EUR 1.312 billion. Over the first nine months, net profit rose 41% to EUR 2.7 billion — a nine-month figure Commerzbank billed as the strongest in its corporate history.
The market's read was less glowing. Handelsblatt reported that the quarterly profit fell slightly short of analyst expectations, with revenue also landing a touch below estimates.
Should investors sell immediately? Or is it worth buying Commerzbank?
Guidance came in mixed. Management reaffirmed its full-year 2026 net profit target of at least EUR 3.4 billion and held to an earnings outlook of around EUR 13.2 billion. The net interest income forecast, however, was trimmed to about EUR 8.5 billion from roughly EUR 8.6 billion, with the bank pointing to tougher competition for deposits.
Two Brokerages, Two Haircuts
Analysts spent Thursday recalibrating. RBC Capital Markets cut its price target to EUR 39 from EUR 41 while keeping a "Sector Perform" rating; analyst Anke Reingen flagged the near-term difficulty of gauging the impact of the looming UniCredit takeover and waning confidence in net interest income.
DZ Bank moved further, downgrading the stock from "Buy" to "Hold" and lowering its fair value to EUR 40 from EUR 46, according to media reports. The shares closed the previous session at EUR 38.00 — below both revised marks.
Commerzbank at a turning point? This analysis reveals what investors need to know now.
Commerzbank's next scheduled appearance is the J.P. Morgan European Financials Conference in London on 20 November.
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