Credit Suisse Group (CS) Cut to “Sector Perform” at Royal Bank of Canada

Royal Bank of Canada downgraded shares of Credit Suisse Group (NYSE:CS) from an outperform rating to a sector perform rating in a research report report published on Friday, MarketBeat Ratings reports.

Other equities analysts have also issued research reports about the stock. Deutsche Bank reiterated a buy rating on shares of Credit Suisse Group in a research report on Wednesday, August 1st. Zacks Investment Research upgraded shares of Credit Suisse Group from a sell rating to a buy rating and set a $17.00 target price for the company in a research report on Tuesday, August 21st. JPMorgan Chase & Co. reissued a buy rating on shares of Credit Suisse Group in a report on Tuesday, September 4th. ValuEngine raised shares of Credit Suisse Group from a sell rating to a hold rating in a report on Thursday, August 2nd. Finally, Societe Generale reissued a hold rating on shares of Credit Suisse Group in a report on Friday, November 2nd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Credit Suisse Group currently has an average rating of Buy and a consensus target price of $16.50.

Shares of CS opened at $11.79 on Friday. The stock has a market capitalization of $30.57 billion, a P/E ratio of 21.83 and a beta of 1.37. The company has a debt-to-equity ratio of 3.82, a current ratio of 1.39 and a quick ratio of 1.39. Credit Suisse Group has a 52-week low of $11.69 and a 52-week high of $19.98.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. 180 Wealth Advisors LLC lifted its position in shares of Credit Suisse Group by 30.1% during the 2nd quarter. 180 Wealth Advisors LLC now owns 17,442 shares of the financial services provider’s stock worth $260,000 after buying an additional 4,033 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Credit Suisse Group by 3.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 134,003 shares of the financial services provider’s stock worth $1,994,000 after buying an additional 4,058 shares during the last quarter. Balasa Dinverno & Foltz LLC lifted its position in shares of Credit Suisse Group by 15.9% during the 3rd quarter. Balasa Dinverno & Foltz LLC now owns 32,805 shares of the financial services provider’s stock worth $657,000 after buying an additional 4,506 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Credit Suisse Group by 113.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 8,554 shares of the financial services provider’s stock worth $128,000 after buying an additional 4,554 shares during the last quarter. Finally, HPM Partners LLC raised its position in Credit Suisse Group by 25.5% in the second quarter. HPM Partners LLC now owns 22,850 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 4,647 shares during the last quarter. 2.85% of the stock is owned by institutional investors.

Credit Suisse Group Company Profile

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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