Nicosia, Cyprus. Deutsche Bank and Euroxx Securities reiterated positive recommendations for Bank of Cyprus after the lender reported first-quarter 2026 results. The firms cited factors including credit expansion, recurring revenues, stable net interest income and capital strength.
Analyst recommendations and target prices
According to a report shared by Greek business outlet Newmoney, Deutsche Bank maintained its buy recommendation and target price of €10.40 for Bank of Cyprus. Euroxx Securities reiterated its overweight recommendation and set a target price of €11.50.
Performance focus and shared views
Both institutions described the first quarter as a strong performance, while placing emphasis on different areas of the results. A key point of convergence between the two reports was the bank’s valuation metrics and shareholder returns.
Valuation metrics and dividend projections
Deutsche Bank estimated that Bank of Cyprus stock is trading at an adjusted price-to-earnings ratio of 10.4 times for 2026, 9.6 times for 2027 and 9 times for 2028. Euroxx projected a price-to-earnings ratio of 10.4 times for 2026, 10.1 times for 2027 and 9.7 times for 2028.
Euroxx forecast a dividend yield of 8.6 per cent in 2026, 9.9 per cent in 2027 and 10.3 per cent in 2028. Euroxx said this underpins its investment case, arguing that Bank of Cyprus trades close to European peer valuations while offering stronger distributions and a more robust capital base.
How do you assess Bank of Cyprus’s valuation and dividend outlook compared with European peers?