Deutsche Bank AG (NYSE:DB) was the recipient of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 29,916,899 shares, a drop of 17.3% from the January 12th total of 36,157,184 shares. Approximately 1.7% of the shares of the company are short sold. Based on an average daily volume of 3,523,442 shares, the days-to-cover ratio is currently 8.5 days.
DB has been the subject of several recent research reports. ValuEngine raised Deutsche Bank from a “hold” rating to a “buy” rating in a report on Monday, December 4th. DZ Bank reaffirmed a “buy” rating on shares of Deutsche Bank in a report on Thursday, December 7th. HSBC raised Deutsche Bank from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. raised Deutsche Bank from a “hold” rating to a “buy” rating and increased their price target for the stock from $17.93 to $18.20 in a report on Tuesday, November 14th. Finally, Zacks Investment Research raised Deutsche Bank from a “strong sell” rating to a “hold” rating in a report on Monday, November 6th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Deutsche Bank has an average rating of “Hold” and an average price target of $18.08.
A number of institutional investors have recently added to or reduced their stakes in the business. Senvest Management LLC acquired a new stake in Deutsche Bank in the fourth quarter valued at $3,235,000. Sovarnum Capital L.P. purchased a new position in shares of Deutsche Bank in the fourth quarter valued at $339,000. Ontario Teachers Pension Plan Board increased its position in shares of Deutsche Bank by 48.3% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 129,733 shares of the bank’s stock valued at $2,473,000 after buying an additional 42,254 shares in the last quarter. Virtu Financial LLC increased its position in shares of Deutsche Bank by 177.4% in the fourth quarter. Virtu Financial LLC now owns 135,036 shares of the bank’s stock valued at $2,570,000 after buying an additional 86,353 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Deutsche Bank by 133.1% in the fourth quarter. Schroder Investment Management Group now owns 4,359,697 shares of the bank’s stock valued at $69,211,000 after buying an additional 2,489,535 shares in the last quarter. 20.96% of the stock is owned by institutional investors.
Deutsche Bank Company Profile
Deutsche Bank AG is a bank and holding company for its subsidiaries. The Company offers a range of investment, financial and related products and services to private individuals, corporate entities and institutional clients. It operates through six divisions: Global Markets, which offers financial products, including trading and hedging services to institutions and corporate clients; Corporate & Investment Banking, which brings together its commercial banking, corporate finance and transaction banking capability; Private, Wealth and Commercial Clients, which combines its capability in private and commercial banking, as well as in wealth management solutions; Deutsche Asset Management, whose investment capabilities span both active and passive strategies and an array of asset classes, including equities, fixed income, real estate and sustainable investments; Postbank, which is a German financial service provider for retail, business and corporate clients, and Non-Core Operations Unit.
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