Zacks Investment Research Downgrades BNP Paribas SA (BNPQY) to Hold
BNP Paribas SA (NASDAQ:BNPQY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “BNP PARIBAS is a European leader in global banking and financial services and is one of the four strongest banks in the world according to Standard & Poor’s. The group holds key positions in three major segments: Corporate and Investment Banking, Asset Management & Services and Retail Banking. Present throughout Europe in all of its business lines, the bank’s two domestic markets in retail banking are France and Italy. In the United States, BNP Paribas employs 15,000 people including 2,500 employees in its Corporate and Investment Banking as well as Asset Management and Services businesses which are headquartered in New York. It is also present in other financial hubs throughout the United States including Chicago, San Francisco, Los Angeles, Dallas, Houston, Miami and Boston. BNP Paribas also operates a retail banking business through its subsidiary Bank of the West with over 700 branches in the Western US. “
BNPQY has been the topic of several other research reports. Jefferies Group initiated coverage on shares of BNP Paribas SA in a research note on Wednesday, September 14th. They issued a “hold” rating on the stock. Credit Suisse Group AG initiated coverage on shares of BNP Paribas SA in a research note on Friday, September 16th. They issued a “neutral” rating on the stock.
Shares of BNP Paribas SA (NASDAQ:BNPQY) opened at 26.67 on Friday. BNP Paribas SA has a 1-year low of $19.46 and a 1-year high of $31.13. The company has a 50-day moving average price of $26.08 and a 200-day moving average price of $25.11. The stock has a market cap of $66.44 billion and a price-to-earnings ratio of 8.96.
About BNP Paribas SA
BNP Paribas SA is a provider of banking and financial services, has four domestic retail banking markets in Europe, namely Belgium, France, Italy and Luxembourg. The Bank operates in 75 countries over 147,000 in Europe. The Bank operates in two divisions: Retail Banking & Services, which include Domestic Markets and a new entity, International Financial Services which includes the operations of BancWest, Europe-Mediterranean, Personal Finance, Wealth and Asset Management and Insurance, and Corporate and Institutional Banking (CIB), including Corporate Banking, Global Markets and Securities Services.
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