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Shareholders Okay Deutsche Bank's Proposal to Raise Capital
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Deutsche Bank AG (DB - Free Report) recently received approval of its shareholders for raising capital in the years to come. They authorized the bank to raise about $0.6 billion on or before Apr 30, 2022 in the form of new shares against cash payments.
They have also given their consent to the various proposals put forth by management in order to strengthen the bank’s balance sheet. However, the shareholders dismissed the plan of bringing an independent auditor to scrutinize the records of the bank during times of past scandals which cost the bank huge fines and penalties.
Deutsche Bank’s shares have gained 1.9% on Friday, reflecting investors’ optimism about the bank’s future performance.
In the annual meeting held in Frankfurt, CEO John Cryan assured the shareholders of having taken appropriate actions regarding scandals held in the recent past. He also made clear that the bank has thoroughly examined similar cases to avoid any notable problem in the future.
Lately, the bank has shown considerable efforts to improve its performance through prudent expense management and undertaking various strategic initiatives such as digitization and divesting its unprofitable business. However, the company’s involvement in a horde of legal matters might continue to affect its financials.
Deutsche Bank’s shares have gained 20.6% in the last six months, outperforming the 10.3% growth for Zacks categorized Banks - Foreign industry.
Currently, the bank carries Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the same space include Bank of N.T. Butterfield & Son LTD (NTB - Free Report) , HDFC Bank Limited (HDB - Free Report) and UBS Group AG (UBS - Free Report) .
Bank of N.T. Butterfield & Son’s earnings estimates were revised upward by 5.9% for the current year, in the past 30 days. Also, its share price jumped 13.9%, over the last six months.
HDFC Bank’s current-year earnings estimates were revised 2.3% upward, over the last 60 days. Further, its shares increased 35.5%, in the last six months.
UBS Group witnessed a 5% upward earnings estimates revision for the current year, in the past 30 days. Moreover, its shares gained 3.9% in the last six months.
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
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Shareholders Okay Deutsche Bank's Proposal to Raise Capital
Deutsche Bank AG (DB - Free Report) recently received approval of its shareholders for raising capital in the years to come. They authorized the bank to raise about $0.6 billion on or before Apr 30, 2022 in the form of new shares against cash payments.
They have also given their consent to the various proposals put forth by management in order to strengthen the bank’s balance sheet. However, the shareholders dismissed the plan of bringing an independent auditor to scrutinize the records of the bank during times of past scandals which cost the bank huge fines and penalties.
Deutsche Bank’s shares have gained 1.9% on Friday, reflecting investors’ optimism about the bank’s future performance.
In the annual meeting held in Frankfurt, CEO John Cryan assured the shareholders of having taken appropriate actions regarding scandals held in the recent past. He also made clear that the bank has thoroughly examined similar cases to avoid any notable problem in the future.
Lately, the bank has shown considerable efforts to improve its performance through prudent expense management and undertaking various strategic initiatives such as digitization and divesting its unprofitable business. However, the company’s involvement in a horde of legal matters might continue to affect its financials.
Deutsche Bank’s shares have gained 20.6% in the last six months, outperforming the 10.3% growth for Zacks categorized Banks - Foreign industry.
Currently, the bank carries Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the same space include Bank of N.T. Butterfield & Son LTD (NTB - Free Report) , HDFC Bank Limited (HDB - Free Report) and UBS Group AG (UBS - Free Report) .
Bank of N.T. Butterfield & Son and HDFC Bank carry Zacks Rank #2 (Buy), whereas UBS Group sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Bank of N.T. Butterfield & Son’s earnings estimates were revised upward by 5.9% for the current year, in the past 30 days. Also, its share price jumped 13.9%, over the last six months.
HDFC Bank’s current-year earnings estimates were revised 2.3% upward, over the last 60 days. Further, its shares increased 35.5%, in the last six months.
UBS Group witnessed a 5% upward earnings estimates revision for the current year, in the past 30 days. Moreover, its shares gained 3.9% in the last six months.
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
One has driven from 0 to a $68 billion valuation in 8 years. Four others are a little less obvious but already show jaw-dropping growth. Download this IPO Watch List today for free >>