Deutsche Bank AG

DB-N

NYSE:DB

7.22
0.04 (0.56%)
Deutsche Bank AG is a German investment bank and financial services company headquartered in Frankfurt, Hesse, Germany. The bank is present in 58 countries with a large presence in Europe, the Americas and Asia.
More at Wikipedia

Analysis and Opinions about DB-N

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
August 2, 2019
Among the worst banks in Europe. Trying to cut costs since 7 years, but still losing market share. Reduced dividends again. They don't know what they're doing. Want quality companies with free cashflow.
Deutsche Bank AG (DB-N)
August 2, 2019
Among the worst banks in Europe. Trying to cut costs since 7 years, but still losing market share. Reduced dividends again. They don't know what they're doing. Want quality companies with free cashflow.
David Driscoll
President & CEO, Liberty International Investment Management Inc
Price
$7.785
Owned
No
PAST TOP PICK
PAST TOP PICK
June 25, 2019
(A Top Pick Jun 29/18, Down 32%) The flat yield curve, along with a riskier play resulted in this holding being stopped out. A collapse of a proposed merger also hurt them.
(A Top Pick Jun 29/18, Down 32%) The flat yield curve, along with a riskier play resulted in this holding being stopped out. A collapse of a proposed merger also hurt them.
Chris Stuchberry
Portfolio Manager, Wellington-Altus Private Wealth
Price
$7.120
Owned
No
BUY
BUY
May 7, 2019
Barclays vs. Deutsche Bank He prefers Deutsche Bank, because it trades at a much lower valuation. Both trade at a fraction of their book value. Deutsche Bank has turned a corner with cost-cutting, though Barclays pays a better dividend. He likes European banks because they've been so beaten down and are trading at a fraction of valuation of the US banks. This is a pivotal year for Deutsche Bank and it should enjoy a big earnings bump.
Barclays vs. Deutsche Bank He prefers Deutsche Bank, because it trades at a much lower valuation. Both trade at a fraction of their book value. Deutsche Bank has turned a corner with cost-cutting, though Barclays pays a better dividend. He likes European banks because they've been so beaten down and are trading at a fraction of valuation of the US banks. This is a pivotal year for Deutsche Bank and it should enjoy a big earnings bump.
Lorne Steinberg
President & Portfolio Manager, Lorne Steinberg Wealth Management Inc
Price
$7.820
Owned
Unknown
DON'T BUY
DON'T BUY
March 25, 2019
A Merger with another bank? He stayed way because he does not like their lines of business. Merging both balance sheets leaves him at a loss. He does not see how it helps them except perhaps to close branches and lay people off. Germany is a massively over-banked market.
Deutsche Bank AG (DB-N)
March 25, 2019
A Merger with another bank? He stayed way because he does not like their lines of business. Merging both balance sheets leaves him at a loss. He does not see how it helps them except perhaps to close branches and lay people off. Germany is a massively over-banked market.
David Fingold
VP and Portfolio Manager, Dynamic Funds
Price
$8.170
Owned
No
DON'T BUY
DON'T BUY
February 22, 2019
This has been a train wreck -- there are better companies out there. They continue to see problems come forward. The only way to see a recovery is if interest rates go up -- something he does not expect soon.
Deutsche Bank AG (DB-N)
February 22, 2019
This has been a train wreck -- there are better companies out there. They continue to see problems come forward. The only way to see a recovery is if interest rates go up -- something he does not expect soon.
Darren Sissons
Vice President and Partner, Campbell Lee & Ross
Price
$8.650
Owned
No
DON'T BUY
DON'T BUY
February 13, 2019
Deustche Bank vs. Barclay's DB is poorly run; he much prefers Barclay's. DB has gone though massive restructuring with many difficulties, still is. They've had a poorly run retail banking business. With their investment bank, they've bought a lot of things without integrating their technology. So, after the 2008 crash, things got very difficult for DB. A lot of their business was in fixed income where a lot of capital is used. Barclay's is in a much better position. They bought Lehman Brothers; has a great retail business; great credit card and superb investment bank businesses. It's run by an ex-JP Morgan buy. DB is a trade at best, while Barclay's will see growth for a while.
Deutsche Bank AG (DB-N)
February 13, 2019
Deustche Bank vs. Barclay's DB is poorly run; he much prefers Barclay's. DB has gone though massive restructuring with many difficulties, still is. They've had a poorly run retail banking business. With their investment bank, they've bought a lot of things without integrating their technology. So, after the 2008 crash, things got very difficult for DB. A lot of their business was in fixed income where a lot of capital is used. Barclay's is in a much better position. They bought Lehman Brothers; has a great retail business; great credit card and superb investment bank businesses. It's run by an ex-JP Morgan buy. DB is a trade at best, while Barclay's will see growth for a while.
Paul Harris, CFA
Partner and Portfolio Manager, Harris Douglas Asset Management
Price
$8.540
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
February 1, 2019
(A Top Pick Jun 29/18, Down 17%) They recapitalized and has shrunk to grow. Regulators never hiked rates in Europe like in North America, which was a surprise to him. Now there are no forecasts for rate hikes in North America, which will create further headwinds. You make more money when they are being fined, than during regular course of business. Rumours of merger abound, but he puts no value in that. He is sticking with it.
Deutsche Bank AG (DB-N)
February 1, 2019
(A Top Pick Jun 29/18, Down 17%) They recapitalized and has shrunk to grow. Regulators never hiked rates in Europe like in North America, which was a surprise to him. Now there are no forecasts for rate hikes in North America, which will create further headwinds. You make more money when they are being fined, than during regular course of business. Rumours of merger abound, but he puts no value in that. He is sticking with it.
Chris Stuchberry
Portfolio Manager, Wellington-Altus Private Wealth
Price
$8.850
Owned
Yes
DON'T BUY
DON'T BUY
January 17, 2019
Down 47% over last 12 months. No growth in Europe, lawsuits, people leaving, constantly reconfiguring the company. Please avoid this one. (Analysts’ price target is $9.80)
Deutsche Bank AG (DB-N)
January 17, 2019
Down 47% over last 12 months. No growth in Europe, lawsuits, people leaving, constantly reconfiguring the company. Please avoid this one. (Analysts’ price target is $9.80)
David Driscoll
President & CEO, Liberty International Investment Management Inc
Price
$8.920
Owned
No
DON'T BUY
DON'T BUY
December 27, 2018
Can it go bankrupt? It was one of the first to see widening credit spreads. They have not been doing well since the crisis. They have been more negatively affected by the change in banking business mix than the rest. Rhetoric around trade is going to ratchet up and down but global trade is still intact.
Deutsche Bank AG (DB-N)
December 27, 2018
Can it go bankrupt? It was one of the first to see widening credit spreads. They have not been doing well since the crisis. They have been more negatively affected by the change in banking business mix than the rest. Rhetoric around trade is going to ratchet up and down but global trade is still intact.
David Fingold
VP and Portfolio Manager, Dynamic Funds
Price
$7.810
Owned
Unknown
DON'T BUY
DON'T BUY
October 29, 2018

[Is Europe a bad bet?] He would broadly stay away from European banks. They have a limited history as public companies. Europe is terribly over banked. He suggests you are better off with an American bank that serves Europe.

Deutsche Bank AG (DB-N)
October 29, 2018

[Is Europe a bad bet?] He would broadly stay away from European banks. They have a limited history as public companies. Europe is terribly over banked. He suggests you are better off with an American bank that serves Europe.

David Fingold
VP and Portfolio Manager, Dynamic Funds
Price
$9.640
Owned
No
PAST TOP PICK
PAST TOP PICK
August 22, 2018

(A top pick June 29/18, up 9%). They have announced they are going to have higher earnings. Interest rates are going up in Canada, USA, and Bank of England. Thinks rates will also go up in Europe. A lot of room for Deutshe Bank to go higher. Difficult to time these, but you want to be there.

Deutsche Bank AG (DB-N)
August 22, 2018

(A top pick June 29/18, up 9%). They have announced they are going to have higher earnings. Interest rates are going up in Canada, USA, and Bank of England. Thinks rates will also go up in Europe. A lot of room for Deutshe Bank to go higher. Difficult to time these, but you want to be there.

Chris Stuchberry
Portfolio Manager, Wellington-Altus Private Wealth
Price
$11.610
Owned
Yes
DON'T BUY
DON'T BUY
August 7, 2018

Worst performing of the European banks, down 31% YTD. Have to attend to restructuring, and interest rates not rising in Europe. Commercial lending and wealth management are fine, but everything else is stagnant. This one is the bottom of the barrel. Haven’t caught up from problems in 2008. Dividend cut. High risk, lower return.

Deutsche Bank AG (DB-N)
August 7, 2018

Worst performing of the European banks, down 31% YTD. Have to attend to restructuring, and interest rates not rising in Europe. Commercial lending and wealth management are fine, but everything else is stagnant. This one is the bottom of the barrel. Haven’t caught up from problems in 2008. Dividend cut. High risk, lower return.

David Driscoll
President & CEO, Liberty International Investment Management Inc
Price
$12.620
Owned
No
PAST TOP PICK
PAST TOP PICK
July 18, 2018

(Past Top Pick, August 24, 2017, Down 25%) He's stayed in this and even added more. He misjudged the turn in European banking, then DB bank fired its CEO. It will do well when the European banks do well, which happens when interest rates will stop being negative, normalize and break-out. Stay the course.

(Past Top Pick, August 24, 2017, Down 25%) He's stayed in this and even added more. He misjudged the turn in European banking, then DB bank fired its CEO. It will do well when the European banks do well, which happens when interest rates will stop being negative, normalize and break-out. Stay the course.

Rick Stuchberry
Portfolio Manager, Wellington-Altus Private Wealth
Price
$12.080
Owned
Yes
TOP PICK
TOP PICK
June 29, 2018

You don’t look at this as a short term holding. It is the main bank of Germany and it is too big to fail. Everything that could go wrong has – interest rates have gone up, quantitative easing has weakened and now the US regulatory agencies have accused them of being under funded. However, the value has fallen so far it is too good to pass up for a long term holding. Yield 1.2%. (Analysts’ price target is $12.34)

You don’t look at this as a short term holding. It is the main bank of Germany and it is too big to fail. Everything that could go wrong has – interest rates have gone up, quantitative easing has weakened and now the US regulatory agencies have accused them of being under funded. However, the value has fallen so far it is too good to pass up for a long term holding. Yield 1.2%. (Analysts’ price target is $12.34)

Chris Stuchberry
Portfolio Manager, Wellington-Altus Private Wealth
Price
$10.620
Owned
Yes
WEAK BUY
WEAK BUY
May 11, 2018

The issue is they have not recovered from issues in the US and the global 2008 financial crisis. The CEO has just been replaced. The problem is regulators have forced banks to get out of higher margins business. The Trump Administration has helped reverse some of this. If you have a multi-year hold this could be interesting.

The issue is they have not recovered from issues in the US and the global 2008 financial crisis. The CEO has just been replaced. The problem is regulators have forced banks to get out of higher margins business. The Trump Administration has helped reverse some of this. If you have a multi-year hold this could be interesting.

Darren Sissons
Vice President and Partner, Campbell Lee & Ross
Price
$13.860
Owned
No
PAST TOP PICK
PAST TOP PICK
April 23, 2018

(A Top Pick Jun 9/17, Down 19%) They are on their second turnaround team. The assets are good. It is a bank that went through 2008 and will not fail but we had to wait a long time. This one is the problem child in Europe. He has not sold it and will give them a couple more quarters.

Deutsche Bank AG (DB-N)
April 23, 2018

(A Top Pick Jun 9/17, Down 19%) They are on their second turnaround team. The assets are good. It is a bank that went through 2008 and will not fail but we had to wait a long time. This one is the problem child in Europe. He has not sold it and will give them a couple more quarters.

Rick Stuchberry
Portfolio Manager, Wellington-Altus Private Wealth
Price
$14.250
Owned
Yes
DON'T BUY
DON'T BUY
April 10, 2018

He would stay away from it. They are mostly focused on lines of business that are shrinking. For example, they do a large business in writing letters of credit, but international trade has been shrinking, as a percentage of GDP, for years. Deglobalization started in 2010/2011 has been happening for years, since Accenture concluded that offshoring probably cost money rather than saving money. There is now a trend of nearshoring: jobs are coming home because costs are lower here. You don’t need letters of credit when you are moving within a region. Also, they face capital strain under Basil III. They were a very significant underwriter of mortgage-backed securities. Sub-Prime and Alt-A products basically don’t exist any more, so Deutsche Bank no longer offers that mix of products; it is now marketing a low-margin product. A recent report from JP Morgan can be summarized as “They should shut their New York branch and go home.” They have been severely impacted by Tax Reform and their financing in the US appears to be high cost.

Deutsche Bank AG (DB-N)
April 10, 2018

He would stay away from it. They are mostly focused on lines of business that are shrinking. For example, they do a large business in writing letters of credit, but international trade has been shrinking, as a percentage of GDP, for years. Deglobalization started in 2010/2011 has been happening for years, since Accenture concluded that offshoring probably cost money rather than saving money. There is now a trend of nearshoring: jobs are coming home because costs are lower here. You don’t need letters of credit when you are moving within a region. Also, they face capital strain under Basil III. They were a very significant underwriter of mortgage-backed securities. Sub-Prime and Alt-A products basically don’t exist any more, so Deutsche Bank no longer offers that mix of products; it is now marketing a low-margin product. A recent report from JP Morgan can be summarized as “They should shut their New York branch and go home.” They have been severely impacted by Tax Reform and their financing in the US appears to be high cost.

David Fingold
VP and Portfolio Manager, Dynamic Funds
Price
$14.080
Owned
No
COMMENT
COMMENT
April 4, 2018

Rising interest rates will benefit large banks. Their CEO changed through a disastrous period, but DB has since recovered. Caveat: big banks may raise their dividends slower than the smaller global banks.

Rising interest rates will benefit large banks. Their CEO changed through a disastrous period, but DB has since recovered. Caveat: big banks may raise their dividends slower than the smaller global banks.

Darren Sissons
Vice President and Partner, Campbell Lee & Ross
Price
$13.880
Owned
Unknown
DON'T BUY
DON'T BUY
March 28, 2018

Down 30% in 2018. They've been cost-cutting, selling assets and fired the CEO. Also, US banks are enjoying interest rate hikes, but not Europe's banks because interest rates aren't moving. DB doesn't have a model for good capital allocation and its underwriting is not great. Net interest income growth was -15% last year. Poor earnings in last quarter. You're speculating on this as a turnaround play. Risky. Other banks are safer.

Deutsche Bank AG (DB-N)
March 28, 2018

Down 30% in 2018. They've been cost-cutting, selling assets and fired the CEO. Also, US banks are enjoying interest rate hikes, but not Europe's banks because interest rates aren't moving. DB doesn't have a model for good capital allocation and its underwriting is not great. Net interest income growth was -15% last year. Poor earnings in last quarter. You're speculating on this as a turnaround play. Risky. Other banks are safer.

David Driscoll
President & CEO, Liberty International Investment Management Inc
Price
$13.760
Owned
Unknown
DON'T BUY
DON'T BUY
March 12, 2018

There are better European banks to own. It's a little expensive. They are large in capital markets, but not in (German) retail. In the corporate finance side they invested heavily in fixed income. Balance sheet isn't as good as other banks and they'll probably issue more equity down the road. They're trying to sell their asset management business, which is wrong, because it generates fees. Plus, there's more re-structuring to come. Their culture has to change. Santander, Barclays, Lloyds and ING are better.

Deutsche Bank AG (DB-N)
March 12, 2018

There are better European banks to own. It's a little expensive. They are large in capital markets, but not in (German) retail. In the corporate finance side they invested heavily in fixed income. Balance sheet isn't as good as other banks and they'll probably issue more equity down the road. They're trying to sell their asset management business, which is wrong, because it generates fees. Plus, there's more re-structuring to come. Their culture has to change. Santander, Barclays, Lloyds and ING are better.

Paul Harris, CFA
Partner and Portfolio Manager, Harris Douglas Asset Management
Price
$16.110
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
December 18, 2017

(A Top Pick May 4/17. Up 18%.) When that option expired in October, it was below the Strike price, so the option would have just expired worthless.

Deutsche Bank AG (DB-N)
December 18, 2017

(A Top Pick May 4/17. Up 18%.) When that option expired in October, it was below the Strike price, so the option would have just expired worthless.

Richard Croft
President, R.N. Croft Financial Group Inc.
Price
$20.100
Owned
No
DON'T BUY
DON'T BUY
November 20, 2017

It is too complicated for him to invest in. It is too difficult to analyze.

Deutsche Bank AG (DB-N)
November 20, 2017

It is too complicated for him to invest in. It is too difficult to analyze.

Mark Grammer
Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates
Price
$19.170
Owned
No
COMMENT
COMMENT
November 17, 2017

Has been a laggard and went through things other banks haven’t. Chart looks similar to last year’s where we had some higher lows, where the longer-term trend was broken. You want to see this move up through that line substantially, and it has already done that. Some indicators are starting to turn up. This should move with rates going higher. The break out through $18 was an indication this should move higher.

Deutsche Bank AG (DB-N)
November 17, 2017

Has been a laggard and went through things other banks haven’t. Chart looks similar to last year’s where we had some higher lows, where the longer-term trend was broken. You want to see this move up through that line substantially, and it has already done that. Some indicators are starting to turn up. This should move with rates going higher. The break out through $18 was an indication this should move higher.

Hap (Robert) Sneddon FCSI
Chief Portfolio Manager & Founder, Castlemoore Inc.
Price
$19.130
Owned
Unknown
DON'T BUY
DON'T BUY
November 2, 2017

He wouldn't buy this. There are so many other banks you could buy that are in much better shape. The difficult thing is that they don't know what they want to be. They had a massive investment banking franchise. He would suggest looking at Bank Santander (SAN-N), a good retail bank and a good wealth management company in Europe with a huge franchise in Latin America.

Deutsche Bank AG (DB-N)
November 2, 2017

He wouldn't buy this. There are so many other banks you could buy that are in much better shape. The difficult thing is that they don't know what they want to be. They had a massive investment banking franchise. He would suggest looking at Bank Santander (SAN-N), a good retail bank and a good wealth management company in Europe with a huge franchise in Latin America.

Paul Harris, CFA
Partner and Portfolio Manager, Harris Douglas Asset Management
Price
$17.060
Owned
Unknown
COMMENT
COMMENT
October 31, 2017

This could be a Buy based on his view of undervalued European banks. You would probably see a couple of good years going forward in the European stock market. However there is still a bit of hair on this. It's cheap, trading at about .4X BV. There are other banks or service companies you could buy that doesn't have as much hair. He would go with names like Credit Suisse that trades at about .8X BV or UniCredit, an Italian bank trading at .75X BV.

Deutsche Bank AG (DB-N)
October 31, 2017

This could be a Buy based on his view of undervalued European banks. You would probably see a couple of good years going forward in the European stock market. However there is still a bit of hair on this. It's cheap, trading at about .4X BV. There are other banks or service companies you could buy that doesn't have as much hair. He would go with names like Credit Suisse that trades at about .8X BV or UniCredit, an Italian bank trading at .75X BV.

Robert Lauzon
Deputy Chief Investment Officer, Middlefield Capital Corporation
Price
$16.270
Owned
Unknown
DON'T BUY
DON'T BUY
October 30, 2017

They raised capital and did not put it to good use. It is not going to earn a dime, but will prop up the balance sheet. He focuses on the balance sheet and this is an example of some of those risks that show up in them.

Deutsche Bank AG (DB-N)
October 30, 2017

They raised capital and did not put it to good use. It is not going to earn a dime, but will prop up the balance sheet. He focuses on the balance sheet and this is an example of some of those risks that show up in them.

Danesh Rohinton
Portfolio manager, Cambridge Global Asset Management
Price
$16.260
Owned
Unknown
COMMENT
COMMENT
October 27, 2017

There was lots of press about them going to go under. While the global economy is going well, even if there is stuff hidden underneath the carpets, it is probably not going to come out. If you believe the global economy is doing well, then you would expect this company to come out and do okay. Chart shows the stock is trading in a channel and is currently at the bottom of the channel, which is good right now.

Deutsche Bank AG (DB-N)
October 27, 2017

There was lots of press about them going to go under. While the global economy is going well, even if there is stuff hidden underneath the carpets, it is probably not going to come out. If you believe the global economy is doing well, then you would expect this company to come out and do okay. Chart shows the stock is trading in a channel and is currently at the bottom of the channel, which is good right now.

Brooke Thackray
Research Analyst, Horizons ETFs (Canada) Inc.
Price
$16.320
Owned
Unknown
BUY
BUY
October 23, 2017

Merkel won the election, which was holding things back. He thinks the other European banks will go the same way. They will raise rates and reduce regulation, which are good for banks. This is a core bank in Europe that is ready to go.

Deutsche Bank AG (DB-N)
October 23, 2017

Merkel won the election, which was holding things back. He thinks the other European banks will go the same way. They will raise rates and reduce regulation, which are good for banks. This is a core bank in Europe that is ready to go.

Rick Stuchberry
Portfolio Manager, Wellington-Altus Private Wealth
Price
$16.630
Owned
Yes
COMMENT
COMMENT
October 23, 2017

This bank is now properly capitalized. They’ve been through the worst and are selling at about a 50% discount to tangible BV. They are not the best in the business, but they do deserve to sell for a much higher price than what they are trading at. Earnings have stabilized and they are earning money. One of the cheapest stocks he owns.

Deutsche Bank AG (DB-N)
October 23, 2017

This bank is now properly capitalized. They’ve been through the worst and are selling at about a 50% discount to tangible BV. They are not the best in the business, but they do deserve to sell for a much higher price than what they are trading at. Earnings have stabilized and they are earning money. One of the cheapest stocks he owns.

Lorne Steinberg
President & Portfolio Manager, Lorne Steinberg Wealth Management Inc
Price
$16.630
Owned
Yes
COMMENT
COMMENT
September 7, 2017

This was one of his worst performing stocks a couple of years ago, but has been one of his best over the last 12 months. They decided to do an $8 billion-euro capital raise earlier this year, which he participated in. With that $8 billion euros, their ratios are way above where they have to be. They are now well capitalized and are in the midst of huge cost cutting. Selling for about half its tangible BV, and is compellingly cheap. Rising interest rates are a massive boost for this bank. They have great market shares in a lot of businesses. They are now once again well capitalized, and he is comfortable holding it. Doesn’t expect earnings to take off in the next couple of years. Hopes management does some of the things it says it is going to do and gets its businesses back to earning reasonable margins.

Deutsche Bank AG (DB-N)
September 7, 2017

This was one of his worst performing stocks a couple of years ago, but has been one of his best over the last 12 months. They decided to do an $8 billion-euro capital raise earlier this year, which he participated in. With that $8 billion euros, their ratios are way above where they have to be. They are now well capitalized and are in the midst of huge cost cutting. Selling for about half its tangible BV, and is compellingly cheap. Rising interest rates are a massive boost for this bank. They have great market shares in a lot of businesses. They are now once again well capitalized, and he is comfortable holding it. Doesn’t expect earnings to take off in the next couple of years. Hopes management does some of the things it says it is going to do and gets its businesses back to earning reasonable margins.

Lorne Steinberg
President & Portfolio Manager, Lorne Steinberg Wealth Management Inc
Price
$15.920
Owned
Yes
TOP PICK
TOP PICK
August 24, 2017

He likes it even more now that it has slid down. The European banks are where the American banks were in 2009. Rates will be at their back, they will be consolidated and will have sectors they want to be in and so they will do well. (Analysts’ target: $13.13).

Deutsche Bank AG (DB-N)
August 24, 2017

He likes it even more now that it has slid down. The European banks are where the American banks were in 2009. Rates will be at their back, they will be consolidated and will have sectors they want to be in and so they will do well. (Analysts’ target: $13.13).

Rick Stuchberry
Portfolio Manager, Wellington-Altus Private Wealth
Price
$16.280
Owned
Yes
DON'T BUY
DON'T BUY
August 21, 2017

(Market Call Minute) A low quality bank that will continue to have write downs. They had to issue more shares to raise capital.

Deutsche Bank AG (DB-N)
August 21, 2017

(Market Call Minute) A low quality bank that will continue to have write downs. They had to issue more shares to raise capital.

David Driscoll
President & CEO, Liberty International Investment Management Inc
Price
$16.170
Owned
Unknown
DON'T BUY
DON'T BUY
July 13, 2017

He likes certain banks in Europe, but this would not be one of his favourites. They don’t have a strong retail franchise that others have. Heavily weighted to the investment banking side, which requires a lot of capital, especially in fixed income. He would prefer something that has good growth potential. There are other places to put your money.

He likes certain banks in Europe, but this would not be one of his favourites. They don’t have a strong retail franchise that others have. Heavily weighted to the investment banking side, which requires a lot of capital, especially in fixed income. He would prefer something that has good growth potential. There are other places to put your money.

Paul Harris, CFA
Partner and Portfolio Manager, Harris Douglas Asset Management
Price
$18.930
Owned
No
COMMENT
COMMENT
July 7, 2017

Europe is looking at raising interest rates. This bank has operations in different parts of the world. It wouldn’t be his preferred one in Europe, but thinks there is more upside for the European financials. The concept of buying a European bank is a good one.

Europe is looking at raising interest rates. This bank has operations in different parts of the world. It wouldn’t be his preferred one in Europe, but thinks there is more upside for the European financials. The concept of buying a European bank is a good one.

Darren Sissons
Vice President and Partner, Campbell Lee & Ross
Price
$19.050
Owned
No
TOP PICK
TOP PICK
June 9, 2017

He likes the European banking sector. This bank has been beaten with a stick. It was a big stock before the downturn. They had lots of problems, and have spent the last couple of years cleaning up. The German government did not let this bank fail in 2008-2009 when it was wobbling like a top, and they are not going to let it fail now. Dividend yield of 1.2%. (Analysts’ price target is €16.40.)

He likes the European banking sector. This bank has been beaten with a stick. It was a big stock before the downturn. They had lots of problems, and have spent the last couple of years cleaning up. The German government did not let this bank fail in 2008-2009 when it was wobbling like a top, and they are not going to let it fail now. Dividend yield of 1.2%. (Analysts’ price target is €16.40.)

Rick Stuchberry
Portfolio Manager, Wellington-Altus Private Wealth
Price
$17.670
Owned
Yes
COMMENT
COMMENT
June 5, 2017

The biggest bank in Germany, so there is no way this would ever be put into receivership. The government would step in. Despite that, it is a very risky bank. They have multiples and multiples of their BV in all kinds of strange things. It’s like J.P. Morgan (JPM-N) on steroids. They are a massive player in the capital markets and the banking markets globally. He would prefer using a broader basket of banks through an ETF like iShares MSCI Europe Financial (EUFN-Q).

The biggest bank in Germany, so there is no way this would ever be put into receivership. The government would step in. Despite that, it is a very risky bank. They have multiples and multiples of their BV in all kinds of strange things. It’s like J.P. Morgan (JPM-N) on steroids. They are a massive player in the capital markets and the banking markets globally. He would prefer using a broader basket of banks through an ETF like iShares MSCI Europe Financial (EUFN-Q).

Jim McGovern
CEO, Arrow Capital Management
Price
$17.500
Owned
Yes
DON'T BUY
DON'T BUY
May 5, 2017

The Continental European banks are about 18 months to 2 years behind the US in terms of rate rises. This bank is not going to face rising rates anytime soon. They recently recapped the capital rights that affects the balance sheet, but it has been a bit of a disaster. There were management issues. He would probably pass on this one.

The Continental European banks are about 18 months to 2 years behind the US in terms of rate rises. This bank is not going to face rising rates anytime soon. They recently recapped the capital rights that affects the balance sheet, but it has been a bit of a disaster. There were management issues. He would probably pass on this one.

Darren Sissons
Vice President and Partner, Campbell Lee & Ross
Price
$19.350
Owned
Unknown
TOP PICK
TOP PICK
May 4, 2017

A play on Europe. They have just had a writes issue. Have refinanced and recapitalized the company and the business. They are an impenetrable bank in Europe. If you believe Europe is starting its road to recovery, banks are going to do the same that they did in the US. He has a covered call on this.

A play on Europe. They have just had a writes issue. Have refinanced and recapitalized the company and the business. They are an impenetrable bank in Europe. If you believe Europe is starting its road to recovery, banks are going to do the same that they did in the US. He has a covered call on this.

Richard Croft
President, R.N. Croft Financial Group Inc.
Price
$18.780
Owned
Yes
DON'T BUY
DON'T BUY
March 31, 2017

With rates in negative territory it has been a challenging environment for any European financial institution. Capital Delinquency is a bit challenging.

Deutsche Bank AG (DB-N)
March 31, 2017

With rates in negative territory it has been a challenging environment for any European financial institution. Capital Delinquency is a bit challenging.

Andy Nasr
VP & Investment Strategist, Sentry Investments
Price
$17.160
Owned
No
DON'T BUY
DON'T BUY
November 11, 2016

This has been one train wreck after another. Governors are involved; regulators are involved. Even though there are expectations that rates are going to rise, this is probably one of the most damaged stories in financials. There is probably more upside in the US banks.

Deutsche Bank AG (DB-N)
November 11, 2016

This has been one train wreck after another. Governors are involved; regulators are involved. Even though there are expectations that rates are going to rise, this is probably one of the most damaged stories in financials. There is probably more upside in the US banks.

Darren Sissons
Vice President and Partner, Campbell Lee & Ross
Price
$16.190
Owned
Unknown
WATCH
WATCH
October 3, 2016

Financial Crisis on the Horizon? If we go through another crisis but in Europe, Canadian banks will fall in sympathy, however European banks have gone down for a couple of years and Canadian banks have not. If you are nervous, you should raise some cash and be ready for a dip.

Deutsche Bank AG (DB-N)
October 3, 2016

Financial Crisis on the Horizon? If we go through another crisis but in Europe, Canadian banks will fall in sympathy, however European banks have gone down for a couple of years and Canadian banks have not. If you are nervous, you should raise some cash and be ready for a dip.

Larry Berman CFA, CMT, CTA
Chief Investment Officer, Partner, ETF Capital Management Inc.
Price
$12.980
Owned
Unknown
DON'T BUY
DON'T BUY
September 26, 2016

She thinks it is best to stay away from most of the money center banks. There is so much under the covers that we cannot see. She is not comfortable owning any of them right now.

Deutsche Bank AG (DB-N)
September 26, 2016

She thinks it is best to stay away from most of the money center banks. There is so much under the covers that we cannot see. She is not comfortable owning any of them right now.

Liz Miller
President, Summit Place Financial Advisors
Price
$11.850
Owned
Unknown
COMMENT
COMMENT
May 5, 2016

This bank expanded quite aggressively into the capital markets business. When 2008 came along, they didn’t cut back on capital markets, specifically the debt business which they were very big in. That is really hurting. Retail banking in Europe does not have the kind of ROE that you get in retail in North America or the UK. You would have a better opportunity in a US bank because they are probably just as cheap and with better prospects.

This bank expanded quite aggressively into the capital markets business. When 2008 came along, they didn’t cut back on capital markets, specifically the debt business which they were very big in. That is really hurting. Retail banking in Europe does not have the kind of ROE that you get in retail in North America or the UK. You would have a better opportunity in a US bank because they are probably just as cheap and with better prospects.

Paul Harris, CFA
Partner and Portfolio Manager, Harris Douglas Asset Management
Price
$16.670
Owned
Unknown
COMMENT
COMMENT
January 12, 2016

Just added this to his portfolio. Just eliminated their dividend. With the Basil 3 Accord coming up, every bank, mostly European, are worried about their capital ratios. This one is selling for half its tangible Book Value and is very cheap. The issue is, do they have any more fines to pay.

Deutsche Bank AG (DB-N)
January 12, 2016

Just added this to his portfolio. Just eliminated their dividend. With the Basil 3 Accord coming up, every bank, mostly European, are worried about their capital ratios. This one is selling for half its tangible Book Value and is very cheap. The issue is, do they have any more fines to pay.

Lorne Steinberg
President & Portfolio Manager, Lorne Steinberg Wealth Management Inc
Price
$22.930
Owned
Yes
DON'T BUY
DON'T BUY
September 16, 2015

He would stay far away from this bank. On the investment banking part of their business, with fixed income, earnings are very volatile and uncertain. Trading at a significant discount to its BV for a reason, because its ROE is very low. All those uncertainties make him nervous.

Deutsche Bank AG (DB-N)
September 16, 2015

He would stay far away from this bank. On the investment banking part of their business, with fixed income, earnings are very volatile and uncertain. Trading at a significant discount to its BV for a reason, because its ROE is very low. All those uncertainties make him nervous.

Mark Grammer
Managing Dir. & Portfolio Manager, Gluskin Sheff & Associates
Price
$29.460
Owned
No
DON'T BUY
DON'T BUY
March 13, 2015

This definitely has headwinds with Greece, which has a government that is going to default on their debt. As one of the major European banks, this has been affected by the possibility of a Greek exit. However, anybody that has exposure to Greece should be out.

Deutsche Bank AG (DB-N)
March 13, 2015