Commerzbank shares plunged over 6% to €14.42 on Monday morning following UniCredit's unexpected announcement of plans to acquire Italy's Banco BPM for more than €10 billion, rather than pursuing the previously speculated Commerzbank takeover. The sharp decline pushed the German bank's stock to a two-month low, significantly below its 52-week peak of €16.97. The market reaction was particularly pronounced in pre-market trading, where the stock initially dropped 4% on the Tradegate platform. While UniCredit maintains a substantial 21% stake in Commerzbank, its strategic shift toward strengthening its position in the Italian market has created uncertainty around the German bank's future.
Analysts Maintain Positive Outlook
Despite the current market turbulence, financial experts remain optimistic about Commerzbank's prospects, setting an average price target of €17.10 per share. This confidence is supported by the bank's solid operational performance, with revenues reaching €6.44 billion in the third quarter of 2024. Additionally, the projected dividend increase to €0.516 per share for 2024, up from €0.350 in the previous year, reinforces the bank's fundamental strength despite market volatility.
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Commerzbank Stock: New Analysis - 26 NovemberFresh Commerzbank information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
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