Zacks Investment Research upgraded shares of Deutsche Bank (NYSE:DB) from a sell rating to a hold rating in a research report released on Friday morning.
According to Zacks, “On the NYSE, shares of Deutsche Bank have underperformed the industry over the past six months. Second-quarter 2018 results reflect significant improvement in performance as reflected by rising revenues and a strong capital position. Also, during the quarter, the bank made progress in achieving its several strategic targets laid down by the newly appointed chief executive officer, who remains confident of staging a turnaround fast. Deutsche Bank’s efforts to improve financials by offloading unprofitable businesses and reducing expenses are encouraging. However, its 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. Moreover, litigation issues related to past misconducts continue and legal costs might deter bottom-line growth.”
Other analysts also recently issued research reports about the company. DZ Bank reiterated a buy rating on shares of Deutsche Bank in a research report on Thursday, May 24th. ValuEngine downgraded Deutsche Bank from a hold rating to a sell rating in a research report on Friday, May 4th. Royal Bank of Canada cut Deutsche Bank from a sector perform rating to an underperform rating in a report on Friday, June 1st. Bank of America cut Deutsche Bank from a neutral rating to an underperform rating in a report on Monday, August 13th. Finally, Morgan Stanley cut Deutsche Bank from an equal rating to a weight rating and set a $9.00 target price for the company. in a report on Friday, August 10th. Five analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The company has a consensus rating of Hold and a consensus target price of $13.00.
Deutsche Bank (NYSE:DB) last announced its quarterly earnings data on Wednesday, July 25th. The bank reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.17). Deutsche Bank had a negative return on equity of 1.85% and a negative net margin of 3.33%. The firm had revenue of $7.86 billion during the quarter. equities research analysts forecast that Deutsche Bank will post 0.42 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC increased its holdings in Deutsche Bank by 76.2% during the 1st quarter. SG Americas Securities LLC now owns 395,961 shares of the bank’s stock valued at $5,536,000 after purchasing an additional 171,225 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Deutsche Bank by 3.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,834,909 shares of the bank’s stock valued at $25,558,000 after purchasing an additional 53,344 shares in the last quarter. Insight 2811 Inc. acquired a new stake in Deutsche Bank during the 1st quarter valued at $325,000. Mandatum Life Insurance Co Ltd increased its holdings in Deutsche Bank by 161.9% during the 1st quarter. Mandatum Life Insurance Co Ltd now owns 22,000 shares of the bank’s stock valued at $307,000 after purchasing an additional 13,600 shares in the last quarter. Finally, State of Wisconsin Investment Board increased its holdings in Deutsche Bank by 93.1% during the 1st quarter. State of Wisconsin Investment Board now owns 2,380,820 shares of the bank’s stock valued at $33,163,000 after purchasing an additional 1,147,616 shares in the last quarter. 20.89% of the stock is owned by institutional investors and hedge funds.
Deutsche Bank Company Profile
Deutsche Bank Aktiengesellschaft provides investment, financial, and related products and services to private individuals, corporate entities, and institutional clients worldwide. It operates through three segments: Corporate & Investment Bank (CIB), Private & Commercial Bank (PCB), and Deutsche Asset Management.
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