Deutsche Bank AG (DB) Upgraded to Hold by Zacks Investment Research
According to Zacks, “Deutsche Bank’s revenue challenges should ease to some extent as it is expediting Strategy 2020 efforts to revamp the bank with focus on simplifying the bank’s business model, reducing costs and shedding unprofitable businesses. Earlier in September, the company completed the sale of its US Private Client Services business while in August it inked deal to sell its Argentine subsidiary. However, profitability remains threatened by a stressed operating environment with negative interest rates, slow growth of the European economy and global headwinds. Further, litigation issues continue to remain a major concern for the bank. Notably, the bank’s imminent hurdle remains the proposed $14-billion settlement with the U.S. Department of Justice (DoJ) tied with mortgage practices.”
Several other equities analysts also recently commented on DB. Keefe, Bruyette & Woods reiterated a hold rating on shares of Deutsche Bank AG in a report on Tuesday, June 28th. Bank of America Corp. set a $12.10 price target on Deutsche Bank AG and gave the company a sell rating in a report on Saturday, September 17th. DZ Bank AG reissued a neutral rating on shares of Deutsche Bank AG in a research report on Thursday, August 25th. Royal Bank Of Canada cut Deutsche Bank AG from an outperform rating to a sector perform rating and reduced their price objective for the company from $19.56 to $17.62 in a research report on Thursday, June 2nd. Finally, Barclays PLC cut Deutsche Bank AG from an overweight rating to an equal weight rating and reduced their price objective for the company from $28.00 to $16.50 in a research report on Thursday, June 9th. Seven equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $19.88.
Deutsche Bank AG (NYSE:DB) traded down 0.366% during mid-day trading on Wednesday, reaching $12.255. 2,547,255 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $13.90 and its 200 day moving average price is $15.62. The stock’s market capitalization is $16.75 billion. Deutsche Bank AG has a 12 month low of $11.23 and a 12 month high of $30.82.
A number of large investors have recently added to or reduced their stakes in the stock. Deltec Asset Management LLC purchased a new stake in Deutsche Bank AG during the second quarter valued at approximately $2,650,000. World Asset Management Inc boosted its stake in Deutsche Bank AG by 8.3% in the second quarter. World Asset Management Inc now owns 85,368 shares of the company’s stock valued at $1,172,000 after buying an additional 6,551 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in Deutsche Bank AG by 18.9% in the second quarter. Oppenheimer & Co. Inc. now owns 12,582 shares of the company’s stock valued at $172,000 after buying an additional 2,000 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Deutsche Bank AG during the second quarter valued at approximately $193,000. Finally, Emerald Acquisition Ltd. purchased a new stake in Deutsche Bank AG during the second quarter valued at approximately $4,650,000. Hedge funds and other institutional investors own 24.68% of the company’s stock.
About Deutsche Bank AG
Deutsche Bank AG is a global investment bank. The Bank is a financial services provider to Indian corporate, institutional and individual clients. It operates through five corporate divisions: Corporate Banking & Securities (CB&S), Private & Business Clients (PBC), Global Transaction Banking (GTB), Deutsche Asset & Wealth Management (Deutsche AWM) and Non-Core Operations Unit (NCOU).
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