Deutsche Bank (NYSE:DB) was downgraded by Zacks Investment Research from a “buy” rating to a “strong sell” rating in a research note issued on Monday.
According to Zacks, “On the NYSE, shares of Deutsche Bank have underperformed the industry, over the past six months. The bank’s profitability remains threatened by a stressed operating environment and sluggish growth of the European economy. Also, margins continue to remain under pressure owing to low interest rates. However, Deutsche Bank’s efforts to improve financials by offloading unprofitable businesses and reducing expenses are encouraging. Also, the newly appointed chief executive officer remains confident of staging a turnaround fast through improvement in all the business segments. Nevertheless, litigation issues related to past misconducts continue and legal costs might deter bottom-line growth.”
Several other equities analysts have also recently issued reports on the company. Bank of America upgraded Deutsche Bank from an “underperform” rating to a “neutral” rating in a research report on Monday, February 19th. ValuEngine cut Deutsche Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. HSBC cut Deutsche Bank from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, DZ Bank restated a “buy” rating on shares of Deutsche Bank in a research report on Monday, February 5th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Deutsche Bank has a consensus rating of “Hold” and a consensus target price of $17.41.
DB opened at $14.30 on Monday. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.84 and a current ratio of 0.84. Deutsche Bank has a one year low of $13.52 and a one year high of $20.23. The stock has a market cap of $29,472.18, a PE ratio of -23.77 and a beta of 1.44.
Deutsche Bank (NYSE:DB) last posted its earnings results on Friday, March 16th. The bank reported ($1.35) EPS for the quarter. Deutsche Bank had a negative return on equity of 1.28% and a negative net margin of 2.34%. The firm had revenue of $6.72 billion for the quarter. equities research analysts anticipate that Deutsche Bank will post 1.21 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DB. Parametric Portfolio Associates LLC increased its position in Deutsche Bank by 10.2% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,048,013 shares of the bank’s stock worth $18,110,000 after purchasing an additional 97,325 shares during the period. Bank of Montreal Can increased its position in Deutsche Bank by 318.5% during the 4th quarter. Bank of Montreal Can now owns 2,035,105 shares of the bank’s stock worth $38,727,000 after purchasing an additional 1,548,873 shares during the period. SG Americas Securities LLC increased its position in Deutsche Bank by 167.6% during the 4th quarter. SG Americas Securities LLC now owns 224,736 shares of the bank’s stock worth $4,277,000 after purchasing an additional 140,753 shares during the period. Courier Capital LLC acquired a new position in Deutsche Bank during the 4th quarter worth approximately $593,000. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its position in Deutsche Bank by 2.9% during the 4th quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 727,739 shares of the bank’s stock worth $13,929,000 after purchasing an additional 20,342 shares during the period. Institutional investors own 24.98% of the company’s stock.
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About Deutsche Bank
Deutsche Bank Aktiengesellschaft provides investment, financial, and related products and services to private individuals, affluent clients, and small and medium sized corporate clients worldwide. The company's Global Markets segment offers financial markets' products, such as bonds, equities and equity-linked products, exchange-traded and over-the-counter derivatives, foreign exchange, money market instruments, and structured products.
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