Deutsche Bank (DB) Under Plans and Announcements
The co-CEO of Deutsche Bank (DB), John Cryan, plans to reorganize the bank and has ordered the downsizing of the entity. The method involves cutting about 23,000 jobs, around 25% of its workforce, Reuters reported the past week.
Mr. Cryan has focused on boosting returns by lowering expenses. That´s the reason the bank is planning to cut costs in several areas, including tech and administrative operations or transaction processing.
The bank employed 98,647 at the end of June. A great question is whether Mr. Cryan will make further deeper cuts to execute his plan.
|Company||Deutsche Bank||JPMorgan Chase||Citigroup|
|52-Week Range||27.81 - 36.29||50.07 - 70.61||46.60 - 60.95|
|Market Cap (Billions)||39.23||225.36||151.37|
The P/E ratio shows that the bank is overvalued. However, P/B and P/S are lower than its competitors. The company's annual dividend yield of 2.93% is higher than its peers, and it is close to 5-year high.
Although Crispin Odey´s Odey Asset Management Group has opened a new position in the second quarter with 1.74 million shares, David Dreman has decreased his position by 8.1% to 67,980 shares.
Posted in ...Market Commentary