Credit Suisse Group (CS) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Credit Suisse Group (NYSE:CS) from a buy rating to a hold rating in a research note released on Tuesday.

According to Zacks, “CREDIT SUISSE GROUP and Winterthur offer investment products, private banking and financial advisory services, as well as insurance and pension solutions. Credit Suisse First Boston provides securities underwriting, sales and trading, financial advisory, investment research, venture capital and asset management services. Because they specialize in gaining a deep understanding of their clients’ financial needs, they know that no one’s needs are two-dimensional. 360° Choice. “

Other analysts have also issued research reports about the company. UBS Group restated a buy rating on shares of Credit Suisse Group in a report on Monday, December 11th. Goldman Sachs Group restated a buy rating on shares of Credit Suisse Group in a report on Tuesday, December 5th. Citigroup restated a buy rating on shares of Credit Suisse Group in a report on Friday, December 1st. JPMorgan Chase & Co. restated a buy rating on shares of Credit Suisse Group in a report on Monday, November 20th. Finally, Santander upgraded Credit Suisse Group from an underperform rating to a buy rating in a report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $20.00.

Credit Suisse Group (CS) traded up $0.21 during trading hours on Tuesday, reaching $18.96. The company had a trading volume of 2,609,293 shares, compared to its average volume of 1,937,674. Credit Suisse Group has a one year low of $13.28 and a one year high of $18.96. The stock has a market cap of $47,925.22, a price-to-earnings ratio of -30.10 and a beta of 1.51. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 4.09.

A number of hedge funds have recently added to or reduced their stakes in the business. Earnest Partners LLC increased its stake in Credit Suisse Group by 6.3% in the third quarter. Earnest Partners LLC now owns 7,588,346 shares of the financial services provider’s stock worth $119,896,000 after purchasing an additional 451,238 shares during the period. Parametric Portfolio Associates LLC increased its stake in Credit Suisse Group by 14.1% in the third quarter. Parametric Portfolio Associates LLC now owns 2,057,652 shares of the financial services provider’s stock worth $32,511,000 after purchasing an additional 254,174 shares during the period. Northern Trust Corp increased its stake in Credit Suisse Group by 1.0% in the second quarter. Northern Trust Corp now owns 1,982,008 shares of the financial services provider’s stock worth $28,937,000 after purchasing an additional 18,880 shares during the period. Tocqueville Asset Management L.P. increased its stake in Credit Suisse Group by 22.8% in the third quarter. Tocqueville Asset Management L.P. now owns 1,423,532 shares of the financial services provider’s stock worth $22,492,000 after purchasing an additional 264,053 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Credit Suisse Group by 13.0% in the third quarter. Bank of New York Mellon Corp now owns 993,419 shares of the financial services provider’s stock worth $15,696,000 after purchasing an additional 114,649 shares during the period. Institutional investors and hedge funds own 2.84% of the company’s stock.

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Credit Suisse Group Company Profile

Credit Suisse Group AG (Credit Suisse) is a financial services company. The Company’s segments include Swiss Universal Bank, International Wealth Management, Asia Pacific, Global Markets, Investment Banking & Capital Markets, Strategic Resolution Unit and Corporate Center. It offers a range of private banking and wealth management solutions to its clients in its Swiss Universal Bank, International Wealth Management and Asia Pacific divisions.

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