pbb, DE0008019001

pbb stock trades at EUR 3.16 as Deutsche Bank cuts target

Published on 09/28/2026 at 12:20 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

pbb stock carries a EUR 3.70 target after Deutsche Bank's September 1, 2026 revision. H1 pre-tax profit reached EUR 16 million against a EUR 249 million loss.

Flatlay aus Aktienzertifikat, Pfandbrief-Dokument, Hausmodell und Euro-Münzen auf weißem Marmor — Deutsche Pfandbriefbank DE0008019001 Flatlay mit Aktienzertifikat ISIN Karte Pfandbrief und Bankdokumenten auf Marmor, Illustration mit AI erstellt.

pbb stock (ISIN DE0008019001) was trading at EUR 3.16 on Xetra on September 28, 2026 at 11:43 a.m. CEST, up 0.32 percent from the EUR 3.15 prior close. The latest analyst revision puts the recovery test in sharper terms: MarketScreener reported on September 1, 2026 that Deutsche Bank Research lowered its target from EUR 3.80 to EUR 3.70 while maintaining Hold.

H1 profit reverses prior loss

The operating picture improved in the first half of 2026. According to Investing.com, pbb generated a EUR 16 million pre-tax profit, compared with a EUR 249 million loss in the first half of 2025. The second quarter contributed EUR 10 million as the bank continued reducing risk in its US portfolio.

The comparison is material because the turnaround now has a positive earnings reference point. Investing.com also reported that US non-performing loans fell by more than 40 percent to EUR 500 million, while the CET1 ratio increased by 120 basis points to 14.6 percent in the second quarter of 2026.

EUR 3.70 target leaves a clear gap

At EUR 3.16, the Deutsche Bank target of EUR 3.70 sits 17.09 percent above the Xetra price. That gap reflects potential upside in the analyst view, but the unchanged Hold rating signals that earnings recovery and credit quality remain more important than the target alone.

New business also provides a concrete operating marker. According to Investing.com, real estate new business volume rose 18 percent to EUR 3.1 billion in the second quarter, with activity centered on hotels, senior living and data centers. Management's reported target range for annual new business was EUR 7.5 billion to EUR 8.5 billion.

Xetra quote stays below yearly high

The stock's intraday range on September 28, 2026 was EUR 3.10 to EUR 3.16, with volume of 32,829 shares. Its 52-week range of EUR 2.71 to EUR 5.22 places the latest quote 39.46 percent below the high, while market capitalization stood at EUR 424.7 million.

For investors, the central question is whether the EUR 16 million first-half profit can develop into a repeatable earnings base while non-performing loans continue to decline. The next results will provide the next reported checkpoint for that assessment.