Zacks Investment Research upgraded shares of Deutsche Bank AG (NYSE:DB) from a strong sell rating to a hold rating in a report issued on Monday, November 6th.
According to Zacks, “On NYSE, shares of Deutsche Bank have underperformed the industry, year to date. Its third-quarter results reflected a decline in revenues, partially offset by controlled expenses and lower provisions. 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. Moreover, litigation issues related to past misconducts continue and legal costs might deter bottom-line growth. However, Deutsche Bank’s capital raising initiative will enable the banking giant to meet regulatory requirements, investment targets across core businesses and enhance its competitiveness.”
DB has been the subject of a number of other research reports. Macquarie downgraded shares of Deutsche Bank from an outperform rating to a neutral rating and set a $18.03 price objective for the company. in a research report on Friday, July 28th. DZ Bank AG reiterated a buy rating on shares of Deutsche Bank in a report on Thursday, July 27th. ValuEngine upgraded shares of Deutsche Bank from a hold rating to a buy rating in a report on Tuesday, September 26th. BidaskClub downgraded shares of Deutsche Bank from a sell rating to a strong sell rating in a report on Friday, August 11th. Finally, Credit Suisse Group upgraded shares of Deutsche Bank from an underperform rating to a neutral rating in a report on Tuesday, September 5th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Deutsche Bank has a consensus rating of Hold and a consensus target price of $19.26.
Several institutional investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale boosted its stake in shares of Deutsche Bank by 33.9% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 27,368,588 shares of the bank’s stock worth $491,602,000 after purchasing an additional 6,923,038 shares during the last quarter. Capital World Investors boosted its stake in shares of Deutsche Bank by 82.3% during the 2nd quarter. Capital World Investors now owns 23,884,260 shares of the bank’s stock worth $423,513,000 after purchasing an additional 10,784,260 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Deutsche Bank by 4.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,909,133 shares of the bank’s stock worth $51,669,000 after purchasing an additional 123,207 shares during the last quarter. State of Wisconsin Investment Board boosted its stake in shares of Deutsche Bank by 15.0% during the 2nd quarter. State of Wisconsin Investment Board now owns 2,483,514 shares of the bank’s stock worth $43,976,000 after purchasing an additional 323,424 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Deutsche Bank by 227.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,351,833 shares of the bank’s stock worth $40,676,000 after purchasing an additional 1,634,532 shares during the last quarter. 21.85% of the stock is currently owned by institutional investors.
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