Zacks Investment Research Upgrades Deutsche Bank (NYSE:DB) to “Hold”

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Deutsche Bank (NYSE:DB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday, August 24th.

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.”

Several other equities research analysts have also weighed in on the company. DZ Bank restated a “neutral” rating on shares of Deutsche Bank in a research report on Monday, July 16th. ValuEngine lowered Deutsche Bank from a “hold” rating to a “sell” rating in a research report on Friday, May 4th. Bank of America downgraded Deutsche Bank from a “neutral” rating to an “underperform” rating in a report on Monday, August 13th. Royal Bank of Canada downgraded Deutsche Bank from a “sector perform” rating to an “underperform” rating in a report on Friday, June 1st. Finally, Morgan Stanley downgraded Deutsche Bank from an “equal” rating to a “weight” rating and set a $9.00 price target on the stock. in a report on Friday, August 10th. Six investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $13.00.

NYSE:DB traded up $0.04 during mid-day trading on Friday, reaching $11.40. The stock had a trading volume of 2,203,662 shares, compared to its average volume of 3,893,129. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market capitalization of $23.23 billion, a price-to-earnings ratio of -19.00 and a beta of 1.37. Deutsche Bank has a one year low of $10.36 and a one year high of $20.23.

Deutsche Bank (NYSE:DB) last announced its quarterly earnings results 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 company had revenue of $7.86 billion during the quarter. sell-side analysts anticipate that Deutsche Bank will post 0.43 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. grew its position in shares of Deutsche Bank by 905.9% during the second quarter. Nomura Holdings Inc. now owns 442,403 shares of the bank’s stock worth $4,698,000 after purchasing an additional 398,421 shares in the last quarter. Miller Value Partners LLC boosted its stake in Deutsche Bank by 16.7% during the second quarter. Miller Value Partners LLC now owns 55,860 shares of the bank’s stock valued at $593,000 after buying an additional 8,010 shares during the last quarter. Focused Wealth Management Inc boosted its stake in Deutsche Bank by 124.6% during the second quarter. Focused Wealth Management Inc now owns 88,917 shares of the bank’s stock valued at $944,000 after buying an additional 49,326 shares during the last quarter. OLD Mission Capital LLC bought a new position in Deutsche Bank during the second quarter valued at approximately $223,000. Finally, Voya Investment Management LLC boosted its stake in Deutsche Bank by 9.2% during the second quarter. Voya Investment Management LLC now owns 512,760 shares of the bank’s stock valued at $5,521,000 after buying an additional 43,129 shares during the last quarter. Hedge funds and other institutional investors own 20.89% of the company’s stock.

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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