DZ Bank
DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main
Central institution of Germany's roughly 650 cooperative banks and a corporate bank, headquartered in Frankfurt; DZ BANK Research publishes equity recommendations on around 300 stocks alongside macroeconomic, bond, currency and commodity research.
Company history
DZ BANK traces its oldest roots to the Landwirtschaftliche Genossenschaftsbank, founded in Darmstadt in 1883, and to the Preußenkasse, which opened in Berlin in 1895; its postwar successor, the Deutsche Genossenschaftskasse, founded in Frankfurt in 1949, was renamed DG BANK in 1975. DG BANK merged with GZ-Bank in 2001 to form DZ BANK, which absorbed WGZ BANK in 2016. Cooperative banks hold about 95% of its capital (2025), and Cornelius Riese has been sole CEO since July 2024.
- 1883Landwirtschaftliche Genossenschaftsbank founded in Darmstadt
- 1895Preußenkasse opens in Berlin
- 1949Deutsche Genossenschaftskasse founded in Frankfurt
- 1975Renamed DG BANK under the DG BANK Act
- 2001DG BANK and GZ-Bank merge to form DZ BANK
- 2016Merges with WGZ BANK
Research
DZ BANK Research has around 80 experts covering 25 economies, 19 currencies, 150 bond issuers, around 300 equities and 12 commodities (2026). Equity recommendations are absolute: Buy when the expected share-price rise over the next 12 months exceeds 10%, Sell when the expected decline exceeds 5%, and Hold in between.
Coverage12M
- Stocks
- 1
- Ratings
- 1
- Price targets
- 0
- Upgrades
- 0
- Downgrades
- 1
- Initiations
- 0
- Reiterations
- 0
- Positive0%0
- Neutral100%1
- Negative0%0
Sectors
Ratings
Listing
Activity24M
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 ULUnilever PLC | Hold | — |
 NETCloudflare, Inc. | Sell | — |
 NVDANVIDIA Corporation | Buy | — |
Recent actions
| Stock | Rating action | Rating | Date |
|---|---|---|---|
| Unilever PLCUL | Downgrade | Buy →Hold | Feb 18 |
| Cloudflare, Inc.NET | Downgrade | Buy →Sell | Jul 22, 2025 |
| NVIDIA CorporationNVDA | Reiterate | Buy | Jul 15, 2025 |
| Unilever PLCUL | Upgrade | Hold →Buy | Feb 21, 2025 |
| PGThe Procter & Gamble CompanyPG | Upgrade | Hold →Buy | Aug 29, 2024 |
 Starbucks CorporationSBUX | Downgrade | Hold →Sell | Aug 21, 2024 |
 First Solar, Inc.FSLR | Upgrade | Hold →Buy | Aug 1, 2024 |
| First Solar, Inc.FSLR | Downgrade | Buy →Hold | May 29, 2024 |
 Apple Inc.AAPL | Downgrade | Buy →Hold | Mar 28, 2024 |
 Advanced Micro Devices, Inc.AMD | Downgrade | Buy →Hold | Mar 7, 2024 |
 Eli Lilly and CompanyLLY | Downgrade | Buy →Hold | Feb 21, 2024 |
| Cloudflare, Inc.NET | Downgrade | Buy →Hold | Feb 13, 2024 |
References
- History | DZ BANKdzbank.com
- Research | DZ BANKdzbank.com
- Equity Analysis – Basic Principles (DZ BANK)dzbank.com
- DZ BANK Investors Presentation (August 2026)dzbank.com
- First half of 2026: DZ BANK Group reports a profit before taxes of €2.52 billiondzbank.com
- DZ BANK sets its personnel course for the future (2023)dzbank.com