Zacks Investment Research Upgrades UBS Group (UBS) to “Buy”
Zacks Investment Research upgraded shares of UBS Group (NYSE:UBS) from a hold rating to a buy rating in a research note released on Monday morning. Zacks Investment Research currently has $22.00 price objective on the bank’s stock.
According to Zacks, “Shares of UBS Group AG have underperformed the industry on the NYSE over the past six months. The company remains focused on building capital levels, global expansion and executing restructuring initiatives. Moreover, it remains focused on achieving its performance targets. Though, the company's profitability continues to be challenged by negative interest rates in the domestic economy and strict regulatory framework, effective cost reduction initiatives will likely support its bottom line growth.”
A number of other brokerages also recently issued reports on UBS. TheStreet upgraded UBS Group from a d rating to a c rating in a report on Monday, November 27th. Instinet downgraded UBS Group from a buy rating to a neutral rating in a report on Sunday, October 1st. Societe Generale reiterated a hold rating on shares of UBS Group in a report on Monday, October 30th. Finally, Bank of America upgraded UBS Group from a neutral rating to a buy rating in a report on Friday, November 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $22.00.
UBS Group (NYSE:UBS) last announced its quarterly earnings results on Friday, October 27th. The bank reported $0.26 earnings per share (EPS) for the quarter. UBS Group had a return on equity of 8.01% and a net margin of 11.28%. sell-side analysts forecast that UBS Group will post 0.64 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of UBS Group by 5.7% in the 2nd quarter. Vanguard Group Inc. now owns 86,199,587 shares of the bank’s stock worth $1,463,669,000 after purchasing an additional 4,634,833 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of UBS Group by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 41,303,205 shares of the bank’s stock worth $708,350,000 after purchasing an additional 1,136,180 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of UBS Group by 3.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 20,820,263 shares of the bank’s stock worth $356,125,000 after purchasing an additional 668,175 shares in the last quarter. State Street Corp boosted its position in shares of UBS Group by 0.3% in the 2nd quarter. State Street Corp now owns 15,513,025 shares of the bank’s stock worth $263,411,000 after purchasing an additional 50,948 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of UBS Group by 2.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 10,189,231 shares of the bank’s stock worth $174,745,000 after purchasing an additional 290,696 shares in the last quarter. 33.94% of the stock is owned by hedge funds and other institutional investors.
UBS Group 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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