Zacks Investment Research lowered shares of Deutsche Bank (NYSE:DB) from a hold rating to a sell rating in a report published on Monday, Zacks.com reports. Zacks Investment Research currently has $8.00 price objective on the bank’s stock.

According to Zacks, “On the NYSE, shares of Deutsche Bank have underperformed the industry over the past six months. Litigation issues related to past misconducts continue, and legal costs might deter bottom-line growth to some extent. Also, declining fee income and pressure on margins due to low interest rates in the domestic economy, keep the top line under pressure. Further, its profitability remains threatened by a stressed operating environment of the European economy. Nonetheless, efforts to improve financials by offloading unprofitable businesses and continued investments in order to expand its fee income sources are commendable. Also, the company targets to reduce adjusted costs to €17 billion by 2022, which is likely to aid bottom-line growth. Notably, in July, it announced major restructuring plans and a fresh set of targets to improve profitability.”

A number of other brokerages also recently weighed in on DB. Barclays reiterated a sell rating and issued a $5.00 price target on shares of Deutsche Bank in a research report on Wednesday, July 17th. Goldman Sachs Group reiterated a hold rating and issued a $7.80 price target on shares of Deutsche Bank in a research report on Tuesday, July 23rd. Credit Suisse Group restated a sell rating and set a $6.00 target price on shares of Deutsche Bank in a report on Monday, July 1st. UBS Group upgraded shares of Deutsche Bank from a sell rating to a neutral rating and set a $7.53 target price on the stock in a report on Friday, July 12th. Finally, JPMorgan Chase & Co. restated a hold rating and set a $6.25 target price on shares of Deutsche Bank in a report on Wednesday, July 24th. Nine analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. Deutsche Bank presently has a consensus rating of Hold and a consensus price target of $7.01.

Shares of NYSE:DB opened at $8.32 on Monday. The company has a market capitalization of $16.89 billion, a price-to-earnings ratio of -832.00 and a beta of 1.53. The firm’s 50 day simple moving average is $7.45 and its 200 day simple moving average is $7.84. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.72 and a quick ratio of 0.72. Deutsche Bank has a fifty-two week low of $6.44 and a fifty-two week high of $12.52.

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

Institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC grew its stake in shares of Deutsche Bank by 0.9% during the 1st quarter. Janus Henderson Group PLC now owns 668,300 shares of the bank’s stock worth $5,433,000 after acquiring an additional 5,881 shares in the last quarter. Banco Santander S.A. grew its stake in shares of Deutsche Bank by 110.0% during the 2nd quarter. Banco Santander S.A. now owns 345,251 shares of the bank’s stock worth $2,664,000 after acquiring an additional 180,836 shares in the last quarter. Comerica Bank bought a new position in shares of Deutsche Bank during the 2nd quarter worth approximately $876,000. IPG Investment Advisors LLC bought a new position in shares of Deutsche Bank during the 1st quarter worth approximately $514,000. Finally, Aperio Group LLC grew its stake in shares of Deutsche Bank by 9.2% during the 2nd quarter. Aperio Group LLC now owns 773,547 shares of the bank’s stock worth $5,902,000 after acquiring an additional 65,200 shares in the last quarter. 21.95% of the stock is owned by institutional investors.

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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