Deutsche Bank (NYSE:DB) was upgraded by Zacks Investment Research from a “strong sell” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $16.00 price target on the bank’s stock. Zacks Investment Research‘s price target indicates a potential upside of 10.65% from the company’s current price.
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. Further, litigation issues related to past misconducts continue and legal costs might deter bottom-line growth. 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.”
DB has been the subject of a number of other reports. Bank of America upgraded shares of Deutsche Bank from an “underperform” rating to a “neutral” rating in a report on Monday, February 19th. DZ Bank restated a “buy” rating on shares of Deutsche Bank in a report on Friday, March 16th. ValuEngine lowered shares of Deutsche Bank from a “buy” rating to a “hold” rating in a report on Wednesday, February 7th. HSBC lowered shares of Deutsche Bank from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Citigroup reiterated a “sell” rating on shares of Deutsche Bank in a report on Tuesday, December 19th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $17.41.
Shares of DB opened at $14.46 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 2.44. Deutsche Bank has a fifty-two week low of $13.52 and a fifty-two week high of $20.23.
Deutsche Bank (NYSE:DB) last announced its quarterly earnings data on Friday, March 16th. The bank reported ($1.35) earnings per share for the quarter. The business had revenue of $6.72 billion during the quarter. Deutsche Bank had a negative return on equity of 1.28% and a negative net margin of 2.34%. equities analysts predict that Deutsche Bank will post 1.21 EPS for the current year.
Large investors have recently bought and sold shares of the stock. LMR Partners LLP raised its holdings in Deutsche Bank by 247.3% during the 4th quarter. LMR Partners LLP now owns 3,722,717 shares of the bank’s stock valued at $70,947,000 after buying an additional 2,650,878 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in Deutsche Bank during the 4th quarter valued at $303,402,000. 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 valued at $38,727,000 after purchasing an additional 1,548,873 shares during the period. IPG Investment Advisors LLC purchased a new position in Deutsche Bank during the 4th quarter valued at $991,000. Finally, Ontario Teachers Pension Plan Board increased its position in Deutsche Bank by 48.3% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 129,733 shares of the bank’s stock valued at $2,473,000 after purchasing an additional 42,254 shares during the period. Institutional investors own 25.00% of the company’s stock.
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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