Deutsche Bank Stock Is Best Avoided For Now
- Date: 23-Nov-2020
- Source: Forbes
- Sector:Financial Services
- Country:Middle East
Deutsche Bank Stock Is Best Avoided For Now
BARCELONA, SPAIN - 2019/10/03: Deutsche Bank logo seen in Paseo de Gracia. (Photo by Keith ... [+] Mayhew/SOPA Images/LightRocket via Getty Images)
SOPA Images/LightRocket via Getty Images
We believe there may be better places for your money than Deutsche Bank stock (NYSE: DB) at the present time. DB trades at $11 currently and it has gained 39% in value year-to-date. It traded at a pre-Covid high of $11 in February and is trading at the same level now. Also, DB stock has gained 85% from the lows of $6 seen in March 2020, after the multi-billion dollar stimulus package announced by the U.S. government which has helped the stock market recover to a large extent. The stock is leading the broader markets (S&P 500 is up about 60% since March lows), as investors are cautiously positive about the growth in Deutsche Bank's revenues mainly driven by Investment Banking and Sales & Trading businesses – the bank has reported a 13% y-o-y growth in the third quarter revenues.
Deutsche Bank's third-quarter results outperformed the consensus estimates. It could be attributed to a 47% jump in Fixed Income, Currency sales & trading revenues, partially offset