UBS AG (UBS) Raised to “Hold” at Zacks Investment Research
According to Zacks, “UBS Group AG’s third-quarter 2016 net profit attributable to shareholders declined substantially year over year. However, pre-tax operating profit improved year over year. The company recorded reduced profitability in its Investment Bank and Wealth Management units, while witnessing improved profitability in other segments. Net trading income increased while net interest income and net fee and commission declined. We remain optimistic as the company remains focused on building capital levels and executing restructuring initiatives. Management remains confident to achieve CHF 2.1 billion in net cost reductions by the end of 2017. However, profitability continues to be challenged by a stressed operating environment with negative interest rates and global growth concerns. Also, the comapny is burdened with numerous legal hassles.”
UBS has been the topic of a number of other research reports. RBC Capital Markets upgraded UBS AG from an underperform rating to a sector perform rating in a research note on Wednesday, October 5th. Credit Suisse Group AG assumed coverage on UBS AG in a research note on Monday, September 19th. They set a neutral rating on the stock. Keefe, Bruyette & Woods upgraded UBS AG from a market perform rating to an outperform rating in a research note on Thursday, November 10th. Vetr upgraded UBS AG from a hold rating to a buy rating and set a $14.27 price objective on the stock in a research note on Monday, September 19th. Finally, Royal Bank Of Canada upgraded UBS AG from an underperform rating to a sector perform rating in a research note on Wednesday, October 5th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. UBS AG presently has an average rating of Hold and a consensus price target of $15.73.
UBS AG (NYSE:UBS) opened at 15.35 on Thursday. The firm’s 50 day moving average price is $14.51 and its 200-day moving average price is $14.10. The company has a market capitalization of $56.94 billion, a PE ratio of 16.98 and a beta of 1.27. UBS AG has a one year low of $11.93 and a one year high of $19.94.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in UBS AG during the third quarter valued at about $114,000. IFP Advisors Inc raised its stake in UBS AG by 44.1% in the second quarter. IFP Advisors Inc now owns 8,494 shares of the company’s stock valued at $110,000 after buying an additional 2,598 shares during the period. First Interstate Bank raised its stake in UBS AG by 160.2% in the second quarter. First Interstate Bank now owns 9,250 shares of the company’s stock valued at $119,000 after buying an additional 5,695 shares during the period. Voloridge Investment Management LLC bought a new stake in UBS AG during the second quarter valued at about $134,000. Finally, Rehmann Capital Advisory Group bought a new stake in UBS AG during the second quarter valued at about $135,000. 25.98% of the stock is currently owned by hedge funds and other institutional investors.
About UBS AG
UBS Group AG (UBS) is a holding company. The Company provides a range of financial services, including advisory services, underwriting, financing, market-making, asset management and brokerage on a global level, and retail banking in Switzerland. The Company comprises Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank.
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