Credit Suisse Group (CS) Cut to Market Perform at Keefe, Bruyette & Woods

Credit Suisse Group (NYSE:CS) was downgraded by equities researchers at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday, Marketbeat.com reports.

CS has been the topic of a number of other research reports. Societe Generale reiterated a “hold” rating on shares of Credit Suisse Group in a report on Friday, November 2nd. ValuEngine cut Credit Suisse Group from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Zacks Investment Research upgraded Credit Suisse Group from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. Barclays upgraded Credit Suisse Group from an “underweight” rating to a “hold” rating and set a $16.00 target price on the stock in a report on Monday, September 10th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Credit Suisse Group in a report on Tuesday, September 4th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $16.50.

Shares of Credit Suisse Group stock opened at $11.96 on Wednesday. Credit Suisse Group has a twelve month low of $11.69 and a twelve month high of $19.98. The firm has a market capitalization of $30.57 billion, a P/E ratio of 22.15 and a beta of 1.37. The company has a debt-to-equity ratio of 3.82, a quick ratio of 1.39 and a current ratio of 1.39.

A number of large investors have recently added to or reduced their stakes in CS. JPMorgan Chase & Co. raised its position in Credit Suisse Group by 1,125.7% in the third quarter. JPMorgan Chase & Co. now owns 1,298,021 shares of the financial services provider’s stock valued at $19,392,000 after purchasing an additional 1,192,123 shares during the period. Bank of New York Mellon Corp raised its position in Credit Suisse Group by 252.4% in the third quarter. Bank of New York Mellon Corp now owns 1,308,059 shares of the financial services provider’s stock valued at $19,542,000 after purchasing an additional 936,895 shares during the period. Millennium Management LLC raised its position in Credit Suisse Group by 103.6% in the second quarter. Millennium Management LLC now owns 1,218,546 shares of the financial services provider’s stock valued at $18,132,000 after purchasing an additional 620,051 shares during the period. Renaissance Technologies LLC raised its position in Credit Suisse Group by 8.3% in the third quarter. Renaissance Technologies LLC now owns 4,515,988 shares of the financial services provider’s stock valued at $67,469,000 after purchasing an additional 344,200 shares during the period. Finally, Eaton Vance Management raised its position in Credit Suisse Group by 17.9% in the third quarter. Eaton Vance Management now owns 1,333,509 shares of the financial services provider’s stock valued at $19,922,000 after purchasing an additional 202,909 shares during the period. 2.85% of the stock is currently owned by institutional investors.

About Credit Suisse Group

Credit Suisse Group AG, together with its subsidiaries, provides various financial services worldwide. It operates through six segments: Swiss Universal Bank, International Wealth Management, Asia Pacific, Global Markets, Investment Banking & Capital Markets, and Strategic Resolution Unit. The company offers private banking and wealth management solutions, including advisory, investment, financial planning, succession planning, and trust services; and financing and lending, and multi-shore platform solutions.

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Analyst Recommendations for Credit Suisse Group (NYSE:CS)

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