Engineers Gate Manager LP Sells 37,309 Shares of Deutsche Bank Aktiengesellschaft $DB

Key Points

• Engineers Gate Manager LP reduced its Deutsche Bank stake by 31.6% in the second quarter, selling 37,309 shares and retaining 80,652 shares valued at approximately $2.7 million.
• Institutional ownership stands at 27.9%, with major investors including Amundi and Bank of America increasing their positions while Norges Bank initiated a substantial stake.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $43 price target; Deutsche Bank’s latest quarterly earnings missed EPS estimates but exceeded revenue expectations.

Engineers Gate Manager LP lowered its holdings in shares of Deutsche Bank Aktiengesellschaft (NYSE:DB - Free Report) by 31.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,652 shares of the bank's stock after selling 37,309 shares during the quarter. Engineers Gate Manager LP's holdings in Deutsche Bank Aktiengesellschaft were worth $2,723,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Deutsche Bank Aktiengesellschaft in the fourth quarter valued at $532,397,000. Bank of America Corp DE increased its position in Deutsche Bank Aktiengesellschaft by 83.1% in the first quarter. Bank of America Corp DE now owns 21,420,171 shares of the bank's stock worth $637,893,000 after purchasing an additional 9,719,181 shares during the last quarter. Amundi raised its stake in Deutsche Bank Aktiengesellschaft by 11.4% during the first quarter. Amundi now owns 60,059,707 shares of the bank's stock valued at $1,788,578,000 after purchasing an additional 6,139,611 shares in the last quarter. SEB Asset Management AB bought a new position in Deutsche Bank Aktiengesellschaft during the first quarter valued at $52,931,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Deutsche Bank Aktiengesellschaft during the first quarter valued at $42,643,000. Institutional investors own 27.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DB shares. Weiss Ratings upgraded shares of Deutsche Bank Aktiengesellschaft from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 29th. Bank of America set a $43.00 price target on shares of Deutsche Bank Aktiengesellschaft in a report on Tuesday, July 7th. Morgan Stanley reiterated an "overweight" rating on shares of Deutsche Bank Aktiengesellschaft in a research report on Wednesday, September 2nd. Wall Street Zen downgraded Deutsche Bank Aktiengesellschaft from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Deutsche Bank Aktiengesellschaft in a research note on Monday, July 20th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Deutsche Bank Aktiengesellschaft currently has an average rating of "Moderate Buy" and a consensus price target of $43.00.

Deutsche Bank Aktiengesellschaft Trading Down 2.8%

Shares of DB opened at $39.35 on Tuesday. The company's fifty day simple moving average is $37.81 and its 200-day simple moving average is $34.19. The company has a market cap of $76.34 billion, a P/E ratio of 10.49, a P/E/G ratio of 0.56 and a beta of 0.96. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.35. Deutsche Bank Aktiengesellschaft has a twelve month low of $28.12 and a twelve month high of $41.62.

Deutsche Bank Aktiengesellschaft (NYSE:DB - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The bank reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.25). Deutsche Bank Aktiengesellschaft had a return on equity of 8.46% and a net margin of 11.53%.The firm had revenue of $9.68 billion for the quarter, compared to analysts' expectations of $9.30 billion. As a group, analysts expect that Deutsche Bank Aktiengesellschaft will post 3.93 EPS for the current year.

About Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft is a Germany-based global financial services company headquartered in Frankfurt. Founded in 1870 in Berlin, the bank provides banking and investment services to corporations, institutions, governments, small and medium-sized businesses, and private clients across Europe and other international markets.

The company's principal businesses include Corporate Bank, Investment Bank, Private Bank and Asset Management. Its services include transaction banking, cash management, trade finance, lending, investment banking, securities sales and trading, foreign exchange, research, wealth management, retail banking and private banking.

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