UniCredit S.p.A. UCG

UniCredit has delivered very strong share price gains over the past few years, which naturally pushes investors to ask whether today’s price is backed by the returns the bank earns on its capital. With the stock recently closing at €83.80, the key issue is how much of those returns may already be reflected in the current valuation. Over the past 5 years the share price has delivered a very large cumulative return, which raises the question of whether the bank’s profitability on its capital...

Andrea Orcel is reportedly preparing to take control within months, replace Commerzbank’s top leadership and overhaul the German lender once regulatory approvals arrive.