Shares of Credit Suisse Group AG (NYSE:CS) have earned a consensus recommendation of “Hold” from the eighteen brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $10.02.
A number of research analysts have recently weighed in on CS shares. Berenberg Bank upgraded Credit Suisse Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Credit Suisse Group in a research report on Tuesday, July 13th. Royal Bank of Canada reiterated a “sector perform” rating on shares of Credit Suisse Group in a research report on Friday, July 30th. Morgan Stanley set a $10.15 price objective on Credit Suisse Group and gave the stock an “equal weight” rating in a research report on Monday, July 12th. Finally, TheStreet cut Credit Suisse Group from a “c-” rating to a “d” rating in a research report on Thursday, August 26th.
Institutional investors have recently added to or reduced their stakes in the stock. Twin Tree Management LP acquired a new position in Credit Suisse Group during the 2nd quarter worth approximately $30,000. Fifth Third Bancorp lifted its position in Credit Suisse Group by 365.6% during the 1st quarter. Fifth Third Bancorp now owns 4,172 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 3,276 shares in the last quarter. Bank of Montreal Can lifted its position in Credit Suisse Group by 27.3% during the 1st quarter. Bank of Montreal Can now owns 6,274 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 1,345 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Credit Suisse Group by 29.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,625 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 1,495 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in shares of Credit Suisse Group by 2,474.1% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 6,770 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 6,507 shares in the last quarter. 3.32% of the stock is currently owned by hedge funds and other institutional investors.
Credit Suisse Group (NYSE:CS) last announced its quarterly earnings results on Thursday, July 29th. The financial services provider reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). Credit Suisse Group had a net margin of 0.63% and a return on equity of 0.42%. On average, sell-side analysts anticipate that Credit Suisse Group will post 0.68 earnings per share for the current fiscal year.
About Credit Suisse Group
Credit Suisse Group AG is holding company, which engages in the provision of financial services. It operates through the following segments: Swiss Universal Bank; International Wealth Management; Asia Pacific; and Investment Banking and Capital Markets. The Swiss Universal Bank segment offers comprehensive advice and financial solutions to private, corporate, and institutional clients in Switzerland.
Further Reading: Cash Asset Ratio
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