Deutsche Bank (DB) Cut to Underperform at Bank of America

Bank of America cut shares of Deutsche Bank (NYSE:DB) from a neutral rating to an underperform rating in a research report report published on Monday, MarketBeat reports.

Several other research firms have also recently issued reports on DB. DZ Bank restated a neutral rating on shares of Deutsche Bank in a report on Wednesday, July 25th. Morgan Stanley cut Deutsche Bank from an equal rating to a weight rating and set a $9.00 price objective on the stock. in a report on Friday, August 10th. ValuEngine cut Deutsche Bank from a hold rating to a sell rating in a report on Friday, May 4th. Zacks Investment Research cut Deutsche Bank from a buy rating to a strong sell rating in a report on Monday, April 23rd. Finally, Royal Bank of Canada cut Deutsche Bank from a sector perform rating to an underperform rating in a report on Friday, June 1st. Six investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $13.00.

Shares of NYSE:DB opened at $11.21 on Monday. The firm has a market cap of $24.43 billion, a price-to-earnings ratio of -18.68 and a beta of 1.41. 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 has a one year low of $10.36 and a one year high of $20.23.

Deutsche Bank (NYSE:DB) last announced its earnings results on Wednesday, July 25th. The bank reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.17). The company had revenue of $7.86 billion for the quarter. Deutsche Bank had a negative net margin of 3.33% and a negative return on equity of 1.85%. equities research analysts forecast that Deutsche Bank will post 0.83 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Deutsche Bank by 3,809.3% during the first quarter. BlackRock Inc. now owns 11,728 shares of the bank’s stock worth $164,000 after purchasing an additional 11,428 shares during the last quarter. Focused Wealth Management Inc boosted its holdings in shares of Deutsche Bank by 601.3% during the first quarter. Focused Wealth Management Inc now owns 39,591 shares of the bank’s stock worth $553,000 after purchasing an additional 33,946 shares during the last quarter. Millennium Management LLC acquired a new position in Deutsche Bank in the first quarter valued at $1,649,000. Dimensional Fund Advisors LP boosted its holdings in Deutsche Bank by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 5,553,116 shares of the bank’s stock valued at $77,633,000 after acquiring an additional 199,028 shares during the last quarter. Finally, Bluefin Trading LLC boosted its holdings in Deutsche Bank by 165.5% in the first quarter. Bluefin Trading LLC now owns 84,681 shares of the bank’s stock valued at $1,184,000 after acquiring an additional 52,781 shares during the last quarter. Institutional investors and hedge funds own 20.20% 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.

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