Deutsche Bank (NYSE:DB) Shares Up 7.8%

Deutsche Bank AG (NYSE:DB) shares shot up 7.8% on Friday . The stock traded as high as $6.95 and last traded at $6.94, 14,459,184 shares changed hands during trading. An increase of 158% from the average session volume of 5,605,749 shares. The stock had previously closed at $6.44.

Several research firms recently weighed in on DB. UBS Group raised shares of Deutsche Bank from a “sell” rating to a “neutral” rating and set a $7.53 target price for the company in a research note on Friday, July 12th. Royal Bank of Canada reissued a “sell” rating and issued a $7.50 price objective on shares of Deutsche Bank in a research note on Thursday, April 25th. Goldman Sachs Group reissued a “hold” rating and issued a $7.80 price objective on shares of Deutsche Bank in a research note on Tuesday, July 23rd. Barclays reissued a “sell” rating and issued a $5.00 price objective on shares of Deutsche Bank in a research note on Wednesday, July 17th. Finally, ValuEngine raised shares of Deutsche Bank from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Nine equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $7.01.

The firm has a market capitalization of $13.31 billion, a PE ratio of -694.00 and a beta of 1.52. The business’s 50 day simple moving average is $7.64 and its 200 day simple moving average is $7.99. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.32.

Deutsche Bank (NYSE:DB) last issued its quarterly earnings data on Wednesday, July 24th. The bank reported ($1.86) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($2.03). Deutsche Bank had a negative return on equity of 4.63% and a negative net margin of 8.73%. The business had revenue of $6.97 billion during the quarter. Analysts forecast that Deutsche Bank AG will post 0.16 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. lifted its holdings in Deutsche Bank by 2,423.4% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,845 shares of the bank’s stock valued at $37,000 after buying an additional 4,653 shares in the last quarter. Stonebridge Capital Advisors LLC bought a new stake in Deutsche Bank during the 2nd quarter valued at about $43,000. Glen Harbor Capital Management LLC lifted its holdings in Deutsche Bank by 19.4% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 10,752 shares of the bank’s stock valued at $83,000 after buying an additional 1,744 shares in the last quarter. Signaturefd LLC lifted its holdings in Deutsche Bank by 161.8% during the 2nd quarter. Signaturefd LLC now owns 11,954 shares of the bank’s stock valued at $91,000 after buying an additional 7,388 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. bought a new stake in Deutsche Bank during the 1st quarter valued at about $99,000. 20.13% of the stock is owned by hedge funds and other institutional investors.

About Deutsche Bank (NYSE:DB)

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.

Recommended Story: Are all No-Load Funds Equal?

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.