Deutsche Bank (DB) Rating Lowered to Sell at Zacks Investment Research

Share on StockTwits

Zacks Investment Research downgraded shares of Deutsche Bank (NYSE:DB) from a hold rating to a sell rating in a report published on Wednesday morning.

According to Zacks, “On the NYSE, shares of Deutsche Bank have underperformed the industry over the past six months. During the second 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. Also, Deutsche Bank’s efforts to improve financials by offloading unprofitable businesses are encouraging. Recently, the bank has acquired an equity stake in ModoPayments to further expand its transaction banking franchise. 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 analysts also recently commented on DB. DZ Bank restated a buy rating on shares of Deutsche Bank in a research report on Thursday, May 24th. Morgan Stanley downgraded shares of Deutsche Bank from an equal rating to a weight rating and set a $9.00 price objective on the stock. in a research report on Friday, August 10th. Bank of America downgraded shares of Deutsche Bank from a neutral rating to an underperform rating in a research report on Monday, August 13th. JPMorgan Chase & Co. restated a neutral rating on shares of Deutsche Bank in a research report on Tuesday. Finally, Royal Bank of Canada downgraded shares of Deutsche Bank from a sector perform rating to an underperform rating in a research report on Friday, June 1st. Six analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The stock currently has an average rating of Hold and an average target price of $13.00.

Shares of Deutsche Bank stock opened at $11.47 on Wednesday. The firm has a market cap of $23.27 billion, a PE ratio of -19.12 and a beta of 1.37. Deutsche Bank has a 1-year low of $10.36 and a 1-year high of $20.23. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.76 and a current ratio of 0.76.

Deutsche Bank (NYSE:DB) last issued its quarterly earnings results on Wednesday, July 25th. The bank reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.17). The business had revenue of $7.86 billion for the quarter. Deutsche Bank had a negative return on equity of 1.85% and a negative net margin of 3.33%. equities analysts expect that Deutsche Bank will post 0.42 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in DB. SG Americas Securities LLC increased its holdings in Deutsche Bank by 76.2% in the 1st quarter. SG Americas Securities LLC now owns 395,961 shares of the bank’s stock valued at $5,536,000 after acquiring an additional 171,225 shares during the last quarter. State of Wisconsin Investment Board increased its holdings in Deutsche Bank by 93.1% in 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 acquiring an additional 1,147,616 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its holdings in Deutsche Bank by 121.4% in the 1st quarter. Bradley Foster & Sargent Inc. CT now owns 31,000 shares of the bank’s stock valued at $433,000 after acquiring an additional 17,000 shares during the last quarter. Focused Wealth Management Inc increased its holdings in Deutsche Bank by 601.3% in the 1st quarter. Focused Wealth Management Inc now owns 39,591 shares of the bank’s stock valued at $553,000 after acquiring an additional 33,946 shares during the last quarter. Finally, Aperio Group LLC increased its holdings in Deutsche Bank by 15.8% in the 1st quarter. Aperio Group LLC now owns 643,111 shares of the bank’s stock valued at $8,991,000 after acquiring an additional 87,927 shares during the last quarter. Institutional investors own 20.89% of the company’s stock.

About Deutsche Bank

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.

Read More: Moving Average – How it Helps Investors in Stock Selection

Get a free copy of the Zacks research report on Deutsche Bank (DB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Deutsche Bank (NYSE:DB)

Receive News & Ratings for Deutsche Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deutsche Bank and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply