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MarketScreener Homepage  >  Equities  >  Xetra  >  Commerzbank AG    CBK   DE000CBK1001

COMMERZBANK AG

(CBK)
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Commerzbank : on course to take over Comdirect as part of overhaul

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01/03/2020 | 04:27am EST
A Commerzbank logo is pictured before the bank's annual news conference in Frankfurt

Commerzbank has purchased a block of shares in Comdirect that pushes its ownership of the online brokerage to over 90%, paving the way for a full takeover, the German lender said on Friday.

Commerzbank, which previously owned more than 82% of Comdirect, has been in the process of taking over the entire online bank as part of a broader restructuring.

Commerzbank bought the stake from Petrus Advisers, which said in December that it owned 7.5% in Comdirect. Commerzbank and Petrus had been in talks about the sale, a person said earlier this week.

A stake of 90% under German law allows Commerzbank to squeeze out remaining shareholders.

Martin Zielke, Commerzbank's chief executive, said the sale was an "important step to quickly and efficiently execute the integration of our successful direct banking subsidiary".

Petrus Advisers declined to comment.

(Reporting by Tom Sims and Hans Seidenstuecker; editing by Thomas Seythal and Thomas Escritt)

Stocks mentioned in the article
ChangeLast1st jan.
COMDIRECT BANK AG -0.29% 13.82 Delayed Quote.6.62%
COMMERZBANK AG -2.37% 6.589 Delayed Quote.22.35%
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Financials (EUR)
Sales 2020 8 735 M
EBIT 2020 1 613 M
Net income 2020 513 M
Debt 2020 -
Yield 2020 2,12%
P/E ratio 2020 16,0x
P/E ratio 2021 12,9x
Capi. / Sales2020 0,97x
Capi. / Sales2021 1,04x
Capitalization 8 453 M
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Technical analysis trends COMMERZBANK AG
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
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Mean consensus UNDERPERFORM
Number of Analysts 20
Average target price 6,02  €
Last Close Price 6,75  €
Spread / Highest target 9,63%
Spread / Average Target -10,8%
Spread / Lowest Target -37,3%
EPS Revisions
Managers
NameTitle
Martin Zielke Chairman-Management Board
Stefan Schmittmann Chairman-Supervisory Board
Jörg Hessenmüller Chief Operating Officer
Stephan Engels Chief Financial Officer
Uwe Tschäge Deputy Chairman-Supervisory Board
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