Summary
Record profits, yet a drop in the stock price? It all makes sense: Deutsche Bank has almost entirely given up its September rally, which peaked at 35.85 EUR (the highest level in many years); the stock is now trading at around 30 EUR, about 16% below that high. The main trigger was a warning from CFO Raja Akram on September 23 that investment banking revenues in the third quarter were likely to stagnate or come in slightly below the strong prior-year figures. This was compounded by concerns over interest rates and inflation, as well as a weak banking sector: On October 7, the stock temporarily fell by about 5.5% to EUR 29.69. From an operational perspective, the picture remains solid: In the second quarter, profit after taxes rose 10% to EUR 1.9 billion—a record for a second quarter—while earnings per share increased 19% to EUR 0.57, and return on equity (RoTE) stood at 11.0%. Analysts remain largely positive: Of the eight firms listed on finanzen.net, six recommend buying and none recommend selling; the average price target is EUR 37.75, about 26% above the current price. The €500 million share buyback program was completed on September 25; the next test will be the third-quarter results on October 28, 2026.
Key Points
Share price: approx. 30.00 EUR (Oct. 9, 2026), about 16% below the September high of 35.85 EUR. Triggers for the pullback: CFO’s warning regarding investment banking in the third quarter (September 23), concerns over interest rates and inflation, and a weak banking sector. Q2 2026: Profit after taxes: 1.9 billion EUR (+10%), earnings per share: 0.57 EUR (+19%), revenue: 8.5 billion EUR (+9%), ROE 11.0%Analysts (finanzen.net): 6 out of 8 recommend buying, none recommend selling, average price target EUR 37.75 (range EUR 32.00 to EUR 43.75)Valuation: P/E ratio approx. 9.5, dividend EUR 1.00 per share (yield approx. 3.3%), share buybacks in 2026: EUR 1.5 billionTechnical analysis: Price just below the 200-day moving average at approx. 30.4 EUR, below the 50-day moving average at approx. 33.1 EUR Risks: Weaker investment banking, loan loss provisions, interest rate and economic fluctuations. Next Earnings Release: October 28, 2026 (Q3)
What are the current key metrics for Deutsche Bank stock?
The Deutsche Bank stock is trading at approximately 30.00 EUR with a P/E ratio of around 9.5, earnings per share of 0.57 EUR in the second quarter, and a dividend yield of approximately 3.3%.
Key FigureValueDate
Price (XETRA: DBK)
approx. 30.00 EUR
Oct. 9, 2026
52-week high (September high)
35.85 EUR
Sept. 2026
52-week low
23.82 EUR
March 23, 2026
Distance from 52-week high
approx. −16%
Oct. 9, 2026
Distance from 52-week low
approx. +26%
Oct. 9, 2026
Profit after taxes Q2 2026
1.9 billion EUR (+10%), a record for a second quarter
July 29, 2026
Earnings per share Q2 2026 (EPS)
EUR 0.57 (+19%)
July 29, 2026
Net revenue Q2 2026
EUR 8.5 billion (+9%)
July 29, 2026
Return on Equity (RoTE) for Q2
11.0% (previous year: 10.1%)
July 29, 2026
Cost-to-Income Ratio for Q2
63.0% (previous year: 63.6%)
July 29, 2026
CET1 Ratio (End of Q2)
13.9% (Target range 13.5–14%)
June 30, 2026
P/E Ratio / Price-to-Book Ratio
approx. 9.5 / approx. 0.7
Oct. 2026
2025 Dividend / Payout Ratio
1.00 EUR / 60%
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Dividend Yield
approx. 3.3%
Oct. 2026
Share Buyback 2026
1.5 billion EUR total; last program (500 million EUR) completed on Sept. 25
Sept. 25, 2026
Analyst Consensus (finanzen.net)
8 firms: 6 Buy, 2 Hold, 0 Sell
Oct. 7, 2026
Average price target (finanzen.net)
37.75 EUR (range 32.00–43.75 EUR), approx. +26%
October 7, 2026
Broader consensus (Investing.com)
18 analysts: 9 Buy, 9 Hold, 0 Sell, average 34.13 EUR
October 8, 2026
Goldman Sachs Rating
Buy (previously Neutral), price target 43.75 EUR (previously 37.00 EUR)
September 2, 2026
WKN / ISIN / Ticker
514000 / DE0005140008 / DBK
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Next Report (Q3)
October 28, 2026
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What news is currently driving Deutsche Bank stock?
The most important news regarding Deutsche Bank stock from the past few weeks at a glance:
Date | News | Details | Assessment
October 28, 2026
Next Event: Third-Quarter Results
The bank will release its Q3 results on October 28. The focus will be on investment banking revenues and provisions for credit losses. Warburg Research expects retail and corporate clients to offset the weakness in investment banking.
Watch
October 7, 2026
Share price slips below 30 EUR
The stock temporarily falls by about 5.5% to 29.69 EUR (intraday low of approx. 29.6 EUR); since the end of September, it has fallen by about 12.5%. Barclays and BNP Paribas are also falling. Warburg Research maintains a “Buy” rating with a price target of 41.50 EUR.
Bearish
October 6, 2026
Analysts Maintain Buy Recommendations
JPMorgan confirms an “Overweight” rating with a price target of 41.00 EUR; RBC Capital Markets rated the stock “Outperform” with a price target of 36.00 EUR on October 5. According to finanzen.net, 6 out of 8 firms recommend buying, none recommend selling.
Bullish
October 1, 2026
Interest rate and inflation concerns weigh on the stock
The stock falls by up to 3% and drops below the 50- and 100-day moving averages. According to Bloomberg, the bank is considering a risk transfer for a portfolio of subscription lines worth approximately $2 billion; terms and structure are still to be determined.
Neutral
September 25, 2026
Share buyback of over EUR 500 million completed
Between August 25 and September 25, the bank repurchased approximately 15.1 million shares (0.8% of the share capital) at an average price of EUR 33.19. The total buyback volume for 2026 thus amounts to EUR 1.5 billion.
Bullish
September 23, 2026
CFO Tones Down Expectations for Investment Banking
Raja Akram expects investment banking revenues for the third quarter to remain flat or decline slightly compared to the strong prior-year quarter. Provisions for credit losses are expected to fall between the levels seen in the first and second quarters, weighed down in part by an exposure to a corporate client. The stock falls by about 3% to EUR 31.86.
Bearish
September 2, 2026
Goldman Sachs: Neutral → Buy
Goldman Sachs raises the rating to Buy and the price target from 37.00 to 43.75 EUR (+18.2%). This is the highest price target to date among the analysts listed on finanzen.net.
Very Bullish
July 29, 2026
Q2 Results: Record Profit After Tax
Profit after tax: 1.9 billion EUR (+10%); profit before tax: 2.7 billion EUR (+11%); earnings per share: 0.57 EUR (+19%); Revenue: 8.5 billion EUR (+9%), RoTE: 11.0%. The bank sees itself firmly on track to meet its revenue target of approximately 33 billion EUR in 2026 and announces a new share buyback program worth 500 million EUR.
Very bullish
What does Deutsche Bank do—and how does it make its money?
Company Description
The Deutsche Bank (ISIN: DE0005140008, WKN: 514000) was founded on March 10, 1870, in Berlin and is currently headquartered in Frankfurt am Main. Christian Sewing has been CEO since 2018. The business is divided into investment banking, private client banking, corporate client banking, and asset management (DWS). In the second quarter of 2026, the group generated net revenue of EUR 8.5 billion and a profit after taxes of EUR 1.9 billion.
The four business segments—and how the bank actually makes money:
Corporate Bank: Payment processing, cash management, and trade finance for corporate clients. Generates revenue primarily through fees and commissions—a business with stable margins and high switching costs, as companies rarely change their primary bank for payment transactions.Investment Bank: Trading in bonds, foreign exchange, and derivatives (Fixed Income & Currencies), as well as advisory services for mergers, acquisitions, and capital market issuances. Generates revenue through trading spreads, underwriting fees, and advisory fees—the most volatile but highest-margin segment, and precisely the one for which the CFO expects weaker earnings in the third quarter. Private Banking: Traditional retail banking—checking accounts, mortgages, consumer loans, and investment advice in Germany and internationally. Generates revenue through the interest margin between deposit and loan rates, as well as through advisory fees—this is where interest rate levels have the strongest impact. Asset Management (DWS): Management of funds and institutional capital. Generates revenue through management fees based on assets under management—a stable, predictable revenue stream independent of the interest rate cycle
Why interest rates are so important for a bank: Banks derive a large portion of their core business revenue from the so-called interest margin—the difference between what they pay on deposits and what they charge on loans. When interest rates rise, this margin typically widens, which boosts profits. The downside became apparent in early October: Concerns about interest rates and inflation, combined with a growing number of loan defaults, can also weigh on bank stocks, and in the trading business, earnings fluctuate sharply from quarter to quarter.
The bank also benefits structurally from two other German special factors: the special infrastructure fund worth billions and rising defense spending, which is likely to create credit demand for years to come—an area in which Deutsche Bank, as Germany’s largest financial institution with a broad corporate client base, can benefit disproportionately.
Similar to the Coinbase Aktie , the following becomes clear here: A business model with several pillars of varying cyclicality can cushion fluctuations in one area with stability in another.
Fundamental Analysis: To what extent does investment banking weigh on profits?
To a limited but noticeable extent: Investment banking accounts for the most volatile portion of profits, and it is precisely in this area that the bank expects revenues to stagnate or decline slightly in the third quarter.
Valuation Compared to the Sector: The P/E ratio stands at around 9.5, the price-to-book ratio at approximately 0.7, with a return on equity (RoTE) of 11.0% in the second quarter. This is favorable for a bank with rising profits, but not exceptional: According to data from Börse Express, the expected P/E ratio for 2026 is 9.2, while the peer median is 8.7, meaning the stock is trading at a slight premium of about 6%. The significant valuation discount that many assume is thus smaller than expected. Rally, euphoria, sell-off: You’re familiar with this trio from the RENK Aktie, and it shows just how quickly expectations for quarterly earnings translate into price movements.
Margin trends and earnings quality: In the second quarter, pre-tax profit rose 11% to EUR 2.7 billion and net profit rose 10% to EUR 1.9 billion on revenue of EUR 8.5 billion (+9%). The cost-to-income ratio improved from 63.6% to 63.0%. Administrative expenses rose by 8% to EUR 5.3 billion (adjusted: +4%), growing at a slightly slower pace than revenue. Provisions for credit losses totaled EUR 460 million, down 11% from the previous quarter. For the third quarter, the bank expects a figure between the levels seen in the first and second quarters, weighed down, among other things, by a single corporate client exposure.
Balance Sheet Quality and Capital Repayment: The CET1 ratio stood at 13.9% at the end of June, within the target range of 13.5% to 14% confirmed by management. The payout ratio is 60%; for 2025, a dividend of EUR 1.00 per share was declared (yield approx. 3.3%). In addition, there will be share buybacks totaling EUR 1.5 billion in 2026: The most recent program, worth EUR 500 million, acquired approximately 15.1 million shares at an average price of EUR 33.19—above the current market price. According to Bloomberg, the bank is also exploring a risk transfer for subscription lines totaling approximately USD 2 billion, which could ease pressure on its capital base but does not yet represent a concrete contribution to earnings.
Segment Overview: In investment banking, trading in credit products is slowing; according to the CFO, September was mixed, while advisory and underwriting (M&A, Debt Capital Markets) gained ground and partially offset weaknesses in leveraged finance. July was dynamic, while August was seasonally weak. The Corporate Bank remains the most stable component with its payment processing and cash management services, as corporate clients rarely switch their primary bank; Warburg Research expects retail and corporate clients to offset the weakness in investment banking.
Conclusion of the fundamental analysis: The figures continue to support a buy recommendation: record second-quarter profit, RoTE of 11%, high dividend payout. However, following the stock price slide, the valuation is fair rather than cheap compared to peers, and earnings are more heavily dependent on investment banking than the September rally suggested. The key question is whether retail and corporate clients will offset the weakness in investment banking on October 28.
Deutsche Bank Stock Price Targets and Forecast for 2026
How is the Deutsche Bank stock price performing? (As of October 9, 2026)
According to finanzen.net, the average price targets for Deutsche Bank stock are 37.75 EUR (range: 32.00 to 43.75 EUR), about 26% above the current price of approximately 30.00 EUR, and 6 out of 8 firms recommend buying. Investing.com’s broader analysis (18 analysts: 9 Buy, 9 Hold, 0 Sell) yields an average of 34.13 EUR with a maximum target of 44.25 EUR. The outlook for 2026 hinges on the Q3 results on October 28: Goldman Sachs (Buy, 43.75 EUR), Warburg Research (Buy, 41.50 EUR), and JPMorgan (Overweight, 41.00 EUR) are optimistic, while UBS (Buy, 37.00 EUR) and RBC (Outperform, 36.00 EUR) are more cautious, and Jefferies (Hold, 33.00 EUR) and Barclays (Equal Weight, 32.00 EUR) are neutral.
The stock’s price performance shows just how quickly the picture has changed: From a low of 23.82 EUR on March 23, the stock rose by about 50% to its September high of 35.85 EUR, but has since fallen back by about 16%. Following the CFO’s warning on September 23, the stock slipped below the 50-day moving average (approx. 33.1 EUR) and the 100-day moving average (approx. 31.3 EUR), followed by a drop below 30 EUR on October 7. A broken trend line after a record rally: You saw this with Siemens Energy Aktie , and now you’re seeing a similar pattern in the banking sector.
Key price levels:
52-week high: 35.85 EUR (Sept. 2026)52-week low: 23.82 EUR (March 23, 2026)Current price: approx. 30.00 EUR (Oct. 9, 2026)First resistance level: approx. 33.1 EUR (50-day moving average)Second resistance level: 50.30 EUR (medium-term price target)Analysts’ price targets: Ø 37.75 EUR (finanzen.net), Goldman Sachs 43.75 EUR, Warburg Research 41.50 EUR, JPMorgan 41.00 EUR Critical support level: approx. 28.50 EUR; below that, the annual low of 23.82 EUR comes into focus
Technical Analysis:
Deutsche Bank is undergoing a correction following the rally. With the stock falling below the 50- and 100-day moving averages and testing the 200-day moving average at approximately 30.4 EUR, the coming days will determine whether the September rally is merely pausing or coming to an end. As long as the stock trades below approximately 30.4 EUR, the short-term outlook remains weak. A recovery to the 34.50 EUR range would be an initial sign of relief, with a procyclical breakout signal toward 50.30 EUR. On the downside, the next key level is around 29.3 EUR; a break below this level would open the way toward the annual low. Fundamentally, record profits and analyst targets point to recovery potential, but technically, this first requires stabilization above the 200-day moving average.
Deutsche Bank Stock Forecast and Price Targets for 2026 (as of October 9, 2026) – Source: Stock3 / Christian Lill
Conclusion: Buy Deutsche Bank now or wait?
My assessment: Buy
Should you buy Deutsche Bank now? Fundamentally, there are still strong arguments in favor: Profit after taxes reached a record high for a second quarter at EUR 1.9 billion; the return on equity stands at 11.0%, the P/E ratio at approximately 9.5, and the dividend yield at approximately 3.3%; and 6 out of 8 analysts recommend buying. At the same time, the stock has given up its September rally, and the warning regarding investment banking shows how quickly a bank stock can come under pressure. Just how quickly an entire rally can turn on a dime is illustrated by the Hensoldt Aktie: There, a single cautious statement from management was enough; at Deutsche Bank, a single statement from the CFO regarding the third quarter was sufficient.
Those who believe in the bank’s structural improvement will find a price of 30 EUR—about 16% below the high—and an average analyst target of 37.75 EUR. Those who want to play it safe should wait for the earnings report on October 28 and see if the stock regains the 200-day moving average at around 30.4 EUR.
✅ Opportunities
⚠️ Risks
- Average price target: 37.75 EUR (finanzen.net) — about 26% upside potential; Goldman Sachs at 43.75 EUR
- 6 out of 8 analysts recommend buying; none recommend selling
- Record after-tax profit in Q2: 1.9 billion EUR (+10%), earnings per share +19%
- Dividend of 1.00 EUR (yield approx. 3.3%) and share buybacks totaling 1.5 billion EUR in 2026
- P/E ratio of approximately 9.5 with a return on equity (RoTE) of 11.0%
- German fiscal expansion (infrastructure, defense) as a multi-year driver of credit demand
- Investment banking in Q3 was flat to slightly down, according to the CFO
- Loan loss provisions in Q3 weighed down, among other things, by a corporate client exposure
- Share price just below the 200-day moving average and about 16% below the September high
- Interest rate and inflation concerns, weak banking sector (Barclays and BNP Paribas also down on October 7)
- No clear valuation discount: 2026e P/E ratio of 9.2 versus peer median of 8.7
- Administrative expenses up 8% in Q2 — cost discipline must be maintained
FAQ: Frequently Asked Questions About Deutsche Bank Stock
Is the Deutsche Bank stock a buy in 2026?
Six out of eight analysts listed on finanzen.net recommend buying; none recommend selling. The average price target is EUR 37.75, which is about 26% above the current price of approximately EUR 30.00. However, the stock is trading about 16% below its September high of 35.85 EUR, the CFO has issued a warning regarding investment banking in the third quarter, and the price is just below the 200-day moving average at approximately 30.4 EUR.
Why has the Deutsche Bank stock fallen?
No single cause can be pinpointed. The fact is: Since its September high of 35.85 EUR, the stock has lost about 16% to approximately 30.00 EUR. On September 23, CFO Raja Akram anticipated stagnant to slightly declining revenues in investment banking for the third quarter; on October 1, concerns about interest rates and inflation weighed on the stock, and on October 7, amid a broad sell-off in banking stocks, the stock temporarily fell by about 5.5% to 29.69 EUR.
What is the price target for Deutsche Bank stock?
According to finanzen.net, the average price target is 37.75 EUR (7 analysts with price targets, range 32.00 to 43.75 EUR). Goldman Sachs cites EUR 43.75, Warburg Research EUR 41.50, and JPMorgan EUR 41.00. Investing.com’s broader analysis (18 analysts) comes in at EUR 34.13. Compared to the current price of approximately 30.00 EUR, this represents upside potential of around 14 to 26%.
What is the forecast for Deutsche Bank stock in 2026?
According to its Q2 report, the bank is firmly on track to meet its revenue target of around EUR 33 billion in 2026. For the third quarter, the CFO of Investment Banking expects revenue to remain flat or decline slightly, with risk provisions falling between the levels seen in the first and second quarters. Analysts such as Warburg Research expect retail and corporate clients to offset this weakness; the figures on October 28, 2026, will provide clarity.
When will Deutsche Bank release its next earnings report?
The figures for the third quarter of 2026 will be released on October 28, 2026. The bank last reported on July 29: profit after taxes of EUR 1.9 billion (+10%), earnings per share of EUR 0.57 (+19%), and revenue of EUR 8.5 billion (+9%).
How much is Deutsche Bank’s dividend?
Deutsche Bank paid a dividend of EUR 1.00 per share for 2025; at a share price of approximately EUR 30.00, this corresponds to a yield of approximately 3.3%. The payout ratio is 60%. In addition, there are share buybacks: for 2026, the total is 1.5 billion EUR.
How does Deutsche Bank make money?
Deutsche Bank generates its revenue in four areas: Corporate Banking (payment transactions, cash management, trade finance), Investment Banking (trading in bonds, foreign exchange, and derivatives, as well as advisory services for mergers and acquisitions and securities offerings), Private Banking (interest margins and advisory fees in the private client business), and Asset Management (DWS, management fees). In the second quarter of 2026, the Group generated revenue of 8.5 billion EUR.
Does Deutsche Bank buy back its own shares?
Yes, in 2026 the buyback volume totaled EUR 1.5 billion. The most recent program, worth EUR 500 million, was completed on September 25 and acquired approximately 15.1 million shares (0.8% of the capital) at an average price of EUR 33.19. According to Investing.com, no further program has been announced to date.
I expect the banking sector, especially $DBK (-0,21 %) —will bounce back—what do you think?
