DZ Bank
DZ BANK is the central institution for Germany's roughly 650 cooperative banks and also provides corporate banking services. Headquartered in Frankfurt, it publishes equity recommendations on around 300 stocks alongside macroeconomic, bond, currency and commodity research.
Activity24M
RatingsPrice targetsKey figures
- Stocks covered
- 112M
- Actions
- 112M
- Ratings / Price targets
- 1 / 0
- Upgrades / Downgrades
- 0 / 1
- Buy-rated
- 0%of 1 rated
- On record
- Jan 2018 – Feb 2026
Overview
DZ BANK Research has around 80 experts covering 25 economies, 19 currencies, 150 bond issuers, around 300 equities and 12 commodities (2026). Its clients are chiefly the cooperative banks.
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.
Milestones
- 1883
Landwirtschaftliche Genossenschaftsbank founded in Darmstadt
- 1895
Preußenkasse opens in Berlin
- 1949
Deutsche Genossenschaftskasse founded in Frankfurt
- 1975
Renamed DG BANK under the DG BANK Act
- 2001
DG BANK and GZ-Bank merge to form DZ BANK
- 2016
Merges with WGZ BANK
Firm facts
- Legal name
- DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main
- Type
- Full-service
- Founded
- 1883
- Headquarters
- Frankfurt, Germany
- CEO
- Cornelius Riese
- Rating scale
- BuyHoldSell12 months
- Website
- dzbank.com
Research philosophy
We consider our economic and capital market forecasts as a contribution to the well-founded opinion-forming of our clients.
DZ BANK Research emphasizes well-supported forecasts and independent views, including those that challenge market consensus. It says analysts should be willing to revise their opinions as conditions change. Economic forecasts provide the foundation for its capital markets research. The department operates independently of the bank's trading and sales divisions and uses a two-person review process for publications.
Rating methodology
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
Sectors
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 Unilever PLCUL | Hold | — |
 Cloudflare, Inc.NET | Sell | — |
 NVIDIA CorporationNVDA | Buy | — |
Recent actions
| Date | Stock | Rating action | Rating |
|---|---|---|---|
| Feb 18 | Unilever PLCUL | Downgrade | Buy →Hold |
| Jul 22, 2025 | Cloudflare, Inc.NET | Downgrade | Buy →Sell |
| Jul 15, 2025 | NVIDIA CorporationNVDA | Reiterate | Buy |
| Feb 21, 2025 | Unilever PLCUL | Upgrade | Hold →Buy |
| Aug 29, 2024 | PGThe Procter & Gamble CompanyPG | Upgrade | Hold →Buy |
| Aug 21, 2024 |  Starbucks CorporationSBUX | Downgrade | Hold →Sell |
| Aug 1, 2024 |  First Solar, Inc.FSLR | Upgrade | Hold →Buy |
| May 29, 2024 | First Solar, Inc.FSLR | Downgrade | Buy →Hold |
| Mar 28, 2024 |  Apple Inc.AAPL | Downgrade | Buy →Hold |
| Mar 7, 2024 |  Advanced Micro Devices, Inc.AMD | Downgrade | Buy →Hold |
| Feb 21, 2024 |  Eli Lilly and CompanyLLY | Downgrade | Buy →Hold |
| Feb 13, 2024 | Cloudflare, Inc.NET | Downgrade | Buy →Hold |