Deutsche Bank AG Technical Analysis - Deutsche Bank AG Trading: 2023-04-21

Deutsche Bank AG is the largest German bank which provides corporate and investment banking, as well as asset management services to private clients, corporate entities and institutional clients worldwide. Its market capitalization is $21.2 billion. The revenue for the trailing twelve months was $25.98 billion, while the Return on Equity (ttm) is 8.06% and the Return on Assets (ttm) 0.43%. The bank said yesterday it plans to reduce its executive board to nine members from 10 and to cut some jobs in infrastructure and in its private banking business to save costs. Shares closed down 1.27% on Thursday after the news. Later the bank announced its Russian subsidiary's profits jumped by almost six times in 2022 to $66.42 million, even as total assets dropped 36.3%. Deutsche Bank is due to present first quarter results on April 27. Analysts estimates project revenues for the quarter to be lower by a fraction of one per cent from the year-ago period while the full year revenue to be higher by a few percentage points. The stock is trading at forward P/E ratio of 5.66 currently which constitutes a discount compared to its industry’s average Forward P/E of 7.47.