According to Zacks, “Deutsche Bank’s revenue challenges should ease to some extent as it is expediting Strategy 2020 efforts to revamp the bank with focus on simplifying the bank’s business model, reducing costs and shedding unprofitable businesses. Earlier in September, the company completed the sale of its US Private Client Services business while in August it inked deal to sell its Argentine subsidiary. However, profitability remains threatened by a stressed operating environment with negative interest rates, slow growth of the European economy and global headwinds. Further, litigation issues continue to remain a major concern for the bank. Notably, the bank’s imminent hurdle remains the proposed $14-billion settlement with the U.S. Department of Justice (DoJ) tied with mortgage practices.”
Other analysts have also issued reports about the company. Societe Generale reiterated a sell rating on shares of Deutsche Bank AG in a research report on Monday, August 1st. Vetr lowered Deutsche Bank AG from a hold rating to a sell rating and set a $16.96 price objective for the company. in a research report on Monday, June 27th. Bank of America Corp. set a $12.10 price objective on Deutsche Bank AG and gave the stock a sell rating in a research report on Saturday, September 17th. JPMorgan Chase & Co. lowered Deutsche Bank AG from an overweight rating to a neutral rating in a research report on Monday, June 27th. Finally, Keefe, Bruyette & Woods reiterated a hold rating on shares of Deutsche Bank AG in a research report on Tuesday, June 28th. Seven analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $19.11.
Shares of Deutsche Bank AG (NYSE:DB) opened at 12.98 on Wednesday. The stock has a 50 day moving average of $13.75 and a 200-day moving average of $15.44. The stock’s market capitalization is $17.74 billion. Deutsche Bank AG has a 52-week low of $11.19 and a 52-week high of $30.82.
Large investors have recently added to or reduced their stakes in the stock. Deltec Asset Management LLC purchased a new stake in Deutsche Bank AG during the second quarter valued at approximately $2,650,000. World Asset Management Inc boosted its stake in Deutsche Bank AG by 8.3% in the second quarter. World Asset Management Inc now owns 85,368 shares of the company’s stock valued at $1,172,000 after buying an additional 6,551 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in Deutsche Bank AG by 18.9% in the second quarter. Oppenheimer & Co. Inc. now owns 12,582 shares of the company’s stock valued at $172,000 after buying an additional 2,000 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Deutsche Bank AG during the second quarter valued at approximately $193,000. Finally, Emerald Acquisition Ltd. purchased a new stake in Deutsche Bank AG during the second quarter valued at approximately $4,650,000. Hedge funds and other institutional investors own 24.68% of the company’s stock.
About Deutsche Bank AG
Deutsche Bank AG is a global investment bank. The Bank is engaged in providing commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals.
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