Deutsche Bank Aktiengesellschaft (NYSE: DB) experienced a substantial decline in short interest, with figures dropping by 42.8% during December 2023. As of December 31, the total short interest stood at 5,295,664 shares, down from 9,263,893 shares on December 15. This reduction indicates that only approximately 0.3% of the company’s stock is currently sold short. Given the average daily trading volume of 1,846,268 shares, the short-interest ratio now sits at 2.9 days.
Institutional Investors Adjust Holdings
Recent activity among institutional investors reflects growing interest in Deutsche Bank. Several hedge funds have modified their positions in the bank. Notably, Root Financial Partners LLC established a new position worth around $27,000 during the third quarter. Salomon & Ludwin LLC significantly increased its holdings by 2,807.4%, acquiring a total of 785 shares valued at approximately $28,000 after purchasing an additional 758 shares.
Additionally, Opal Wealth Advisors LLC entered a new position in Deutsche Bank during the second quarter, investing about $25,000. Triumph Capital Management also made its move during the third quarter, investing around $32,000. Cary Street Partners Investment Advisory LLC boosted its stake by 61.8%, now owning 1,081 shares worth $38,000 after acquiring an extra 413 shares during that period. Overall, institutional investors and hedge funds own approximately 27.90% of Deutsche Bank’s stock.
Market Performance and Analyst Ratings
On Thursday, shares of Deutsche Bank traded down by $0.29, reaching $38.90 during midday exchanges. The trading volume saw 3,466,574 shares change hands, exceeding the average of 1,843,394 shares. Over the past year, the stock has fluctuated between a low of $18.56 and a high of $39.82. With a market capitalization of $78.07 billion, Deutsche Bank’s price-to-earnings ratio stands at 14.35, while its price-to-earnings-growth ratio is 0.36. The bank currently maintains a quick ratio and current ratio of 0.78, alongside a debt-to-equity ratio of 1.40. The 50-day simple moving average is $37.41, and the 200-day average is $35.34.
A series of recent reports from financial analysts provide a mixed outlook. Barclays upgraded Deutsche Bank to a “strong-buy” rating on October 10, while Weiss Ratings reaffirmed a “buy” rating shortly thereafter. In contrast, Zacks Research downgraded the stock from “strong-buy” to a “hold” rating on December 30. Jefferies Financial Group began coverage of the bank with a “hold” recommendation, and Wall Street Zen upgraded its rating from “hold” to “buy” on December 20. Currently, one analyst has classified the stock as a strong buy, four analysts have issued buy ratings, five analysts rate it as hold, and one analyst recommended selling. According to MarketBeat.com, the stock holds an average rating of “hold.”
About Deutsche Bank Aktiengesellschaft
Deutsche Bank Aktiengesellschaft, headquartered in Frankfurt, Germany, is a leading global banking and financial services company. Founded in 1870 to support German foreign trade, the bank has evolved into a full-service institution. It offers a comprehensive range of banking, advisory, and transaction services to corporate, institutional, and private clients. Over its extensive history, Deutsche Bank has expanded its international footprint and developed diverse capabilities across capital markets, investment banking, retail and commercial banking, and wealth management.
The core business activities include corporate and investment banking, which encompasses financing, advisory, sales and trading, and capital markets services. Additionally, the bank provides private and commercial banking for individual clients and small to medium enterprises.
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