Credit Suisse Group (NYSE:CS) released its quarterly earnings results on Friday, July 28th. The financial services provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.18 by $0.05, MarketWatch Earnings reports. The firm had revenue of $5.28 billion for the quarter. Credit Suisse Group had a negative net margin of 4.84% and a negative return on equity of 2.93%.
Shares of Credit Suisse Group (NYSE CS) traded down 1.41% during midday trading on Tuesday, hitting $15.42. The company had a trading volume of 2,946,768 shares. The company’s market capitalization is $39.37 billion. Credit Suisse Group has a 12 month low of $11.26 and a 12 month high of $16.17. The company has a 50-day moving average of $14.88 and a 200-day moving average of $14.86.
CS has been the subject of several analyst reports. BidaskClub lowered Credit Suisse Group from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Bank of America Corporation initiated coverage on Credit Suisse Group in a research note on Monday, June 19th. They issued a “buy” rating for the company. Morgan Stanley reaffirmed a “buy” rating on shares of Credit Suisse Group in a research note on Tuesday, July 18th. J P Morgan Chase & Co initiated coverage on Credit Suisse Group in a research note on Monday, June 26th. They issued an “overweight” rating for the company. Finally, ValuEngine raised Credit Suisse Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $17.00.
A number of hedge funds and other institutional investors have recently modified their holdings of CS. Morgan Stanley raised its position in shares of Credit Suisse Group by 265.7% in the first quarter. Morgan Stanley now owns 5,037,858 shares of the financial services provider’s stock valued at $74,761,000 after buying an additional 3,660,158 shares during the last quarter. Sei Investments Co. raised its position in shares of Credit Suisse Group by 131.0% in the second quarter. Sei Investments Co. now owns 2,745,869 shares of the financial services provider’s stock valued at $40,089,000 after buying an additional 1,557,160 shares during the last quarter. Bank of America Corp DE raised its position in shares of Credit Suisse Group by 18.7% in the first quarter. Bank of America Corp DE now owns 6,210,880 shares of the financial services provider’s stock valued at $92,170,000 after buying an additional 976,525 shares during the last quarter. Symons Capital Management Inc. acquired a new position in shares of Credit Suisse Group during the first quarter valued at $13,990,000. Finally, Karp Capital Management Corp acquired a new position in shares of Credit Suisse Group during the first quarter valued at $12,136,000. Institutional investors own 2.94% of the company’s stock.
About Credit Suisse Group
Credit Suisse Group AG (Credit Suisse) is a financial services company. The Company’s segments include Swiss Universal Bank, International Wealth Management, Asia Pacific, Global Markets, Investment Banking & Capital Markets, Strategic Resolution Unit and Corporate Center. It offers a range of private banking and wealth management solutions to its clients in its Swiss Universal Bank, International Wealth Management and Asia Pacific divisions.
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