UBS AG (UBS) Lifted to Buy at Bank of America Corporation
Bank of America Corporation upgraded shares of UBS AG (NYSE:UBS) from a neutral rating to a buy rating in a report released on Friday, MarketBeat.com reports.
Several other brokerages also recently weighed in on UBS. BNP Paribas started coverage on shares of UBS AG in a research report on Thursday, August 31st. They issued an outperform rating on the stock. Zacks Investment Research cut shares of UBS AG from a buy rating to a hold rating in a research note on Thursday, August 24th. BidaskClub cut shares of UBS AG from a hold rating to a sell rating in a research note on Thursday, August 3rd. Morgan Stanley reissued a buy rating on shares of UBS AG in a research note on Tuesday, July 18th. Finally, Societe Generale reissued a hold rating on shares of UBS AG in a research note on Monday, October 30th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $19.00.
Shares of UBS AG (NYSE:UBS) traded up $0.18 during trading hours on Friday, reaching $17.11. 2,681,200 shares of the company traded hands, compared to its average volume of 2,034,513. The company has a market cap of $65,510.00 and a P/E ratio of 15.01. UBS AG has a 12-month low of $15.10 and a 12-month high of $18.31. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.21 and a current ratio of 1.21.
Institutional investors and hedge funds have recently made changes to their positions in the company. Mountain Capital Investment Advisors Inc acquired a new position in shares of UBS AG in the 2nd quarter worth approximately $118,000. Fiduciary Trust Co. purchased a new position in shares of UBS AG in the second quarter worth approximately $136,000. Segantii Capital Management Ltd purchased a new position in shares of UBS AG in the second quarter worth approximately $166,000. Oppenheimer & Co. Inc. purchased a new position in shares of UBS AG in the second quarter worth approximately $173,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of UBS AG by 36.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,468 shares of the bank’s stock worth $178,000 after acquiring an additional 2,809 shares in the last quarter. 31.56% of the stock is currently owned by institutional investors.
UBS AG Company Profile
UBS Group AG is a holding company and conducts its operations through UBS AG and its subsidiaries. The Company comprises Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. Wealth Management division provides advice and tailored financial services to wealthy private clients around the world, except those served by Wealth Management Americas.
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