31,280 Shares in Deutsche Bank Aktiengesellschaft (NYSE:DB) Bought by Pinnacle Associates Ltd.

Key Points

• Pinnacle Associates Ltd. has acquired 31,280 shares of Deutsche Bank, valued at approximately $745,000, reflecting increasing institutional interest in the bank's stock.
• Brokerage firms have mixed ratings on Deutsche Bank; while Wall Street Zen downgraded it from "buy" to "hold," Bank of America initiated coverage with a "buy" rating.
• In the latest earnings report, Deutsche Bank reported $0.54 earnings per share, missing the consensus estimate of $0.78, but achieved revenue of $9.21 billion, exceeding estimates.

Pinnacle Associates Ltd. acquired a new stake in shares of Deutsche Bank Aktiengesellschaft (NYSE:DB - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 31,280 shares of the bank's stock, valued at approximately $745,000.

Several other hedge funds also recently added to or reduced their stakes in DB. MassMutual Private Wealth & Trust FSB grew its stake in Deutsche Bank Aktiengesellschaft by 21.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,412 shares of the bank's stock worth $57,000 after purchasing an additional 424 shares in the last quarter. Ballentine Partners LLC grew its position in shares of Deutsche Bank Aktiengesellschaft by 4.1% in the 1st quarter. Ballentine Partners LLC now owns 17,356 shares of the bank's stock worth $414,000 after acquiring an additional 680 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Deutsche Bank Aktiengesellschaft by 3.9% in the 4th quarter. Cetera Investment Advisers now owns 19,438 shares of the bank's stock valued at $331,000 after acquiring an additional 738 shares during the last quarter. Pitcairn Co. raised its position in shares of Deutsche Bank Aktiengesellschaft by 5.7% during the 4th quarter. Pitcairn Co. now owns 13,742 shares of the bank's stock valued at $234,000 after acquiring an additional 740 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Deutsche Bank Aktiengesellschaft by 96.5% during the first quarter. Farther Finance Advisors LLC now owns 1,629 shares of the bank's stock worth $39,000 after purchasing an additional 800 shares during the last quarter. 27.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on DB. Wall Street Zen cut shares of Deutsche Bank Aktiengesellschaft from a "buy" rating to a "hold" rating in a report on Saturday. Citigroup reissued a "sell" rating on shares of Deutsche Bank Aktiengesellschaft in a report on Friday. Bank of America began coverage on Deutsche Bank Aktiengesellschaft in a report on Tuesday, June 10th. They set a "buy" rating for the company. Finally, Cfra Research raised Deutsche Bank Aktiengesellschaft from a "moderate sell" rating to a "hold" rating in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy".

Deutsche Bank Aktiengesellschaft Stock Performance

DB opened at $33.46 on Monday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.39. The business's 50 day moving average is $28.93 and its 200-day moving average is $24.77. The stock has a market cap of $66.64 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 0.43 and a beta of 0.97. Deutsche Bank Aktiengesellschaft has a twelve month low of $13.70 and a twelve month high of $34.14.

Deutsche Bank Aktiengesellschaft (NYSE:DB - Get Free Report) last announced its earnings results on Thursday, July 24th. The bank reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.24). Deutsche Bank Aktiengesellschaft had a net margin of 7.67% and a return on equity of 6.01%. The business had revenue of $9.21 billion for the quarter, compared to the consensus estimate of $7.80 billion. On average, analysts predict that Deutsche Bank Aktiengesellschaft will post 2.93 earnings per share for the current year.

Deutsche Bank Aktiengesellschaft Company Profile

Deutsche Bank Aktiengesellschaft, a stock corporation, provides corporate and investment banking, and asset management products and services to private individuals, corporate entities, and institutional clients in Germany, the United Kingdom, rest of Europe, the Middle East, Africa, the Americas, and the Asia-Pacific.

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