Why Deutsche Bank Aktiengesellschaft (DB) Soared on Tuesday

We recently published an article titled Why These 10 Stocks Soared Today. In this article, we are going to take a look at where Deutsche Bank Aktiengesellschaft (NYSE:DB) stands against the other stocks that soared on Tuesday.

The stock market finished Tuesday’s trading on a positive note with all major indices ending in the green, buoyed by the influx of corporate earnings results.

The Dow Jones grew by 0.75 percent, the S&P 500 rose by 0.58 percent, and the Nasdaq was up by 0.55 percent.

Ten companies mirrored the broader market optimism, leading the charge with strong gains, predominantly driven by impressive earnings results.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.

Why Deutsche Bank Aktiengesellschaft (DB) Soared On Tuesday?

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Deutsche Bank Aktiengesellschaft (NYSE:DB)

Shares of Deutsche Bank Aktiengesellschaft rallied for a third consecutive day on Tuesday, adding 4.06 percent to close at $26.78 apiece as investors cheered the company’s strong earnings performance for the first three months of the year.

In its earnings release, net income attributable to shareholders rose by 39 percent to €1.775 billion from €1.275 billion in the same period a year earlier.

Meanwhile, net revenues increased by 9.25 percent to €8.5 billion from €7.78 billion year-on-year, with revenues from investment banking operations contributing the largest chunk with €3.4 billion, followed by private banks with €2.4 billion, corporate banks with €1.9 billion, and asset management at €730 million.

According to Deutsche Bank Aktiengesellschaft CEO Christian Sewing, the strong performance put the company “on track for delivery on all our 2025 targets,” underscoring that the first quarter marked “our best quarterly profit for fourteen years.”


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This article is originally published at Insider Monkey.