Credit Suisse Group (NYSE:CS) Cut to “Hold” at BidaskClub

BidaskClub lowered shares of Credit Suisse Group (NYSE:CS) from a buy rating to a hold rating in a research report sent to investors on Monday, July 24th.

A number of other analysts have also recently commented on CS. Zacks Investment Research cut shares of Credit Suisse Group from a buy rating to a strong sell rating in a research note on Wednesday, April 19th. Deutsche Bank AG upgraded shares of Credit Suisse Group from a hold rating to a buy rating in a research note on Monday, June 19th. Bank of America Corporation started coverage on shares of Credit Suisse Group in a research note on Monday, June 19th. They set a buy rating on the stock. Morgan Stanley restated a buy rating on shares of Credit Suisse Group in a research note on Tuesday, June 20th. Finally, J P Morgan Chase & Co started coverage on shares of Credit Suisse Group in a research note on Monday, June 26th. They set an overweight rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. Credit Suisse Group presently has an average rating of Buy and a consensus price target of $17.00.

Shares of Credit Suisse Group (NYSE CS) traded down 0.33% on Monday, hitting $14.91. 2,802,896 shares of the stock traded hands. The stock’s market cap is $38.07 billion. Credit Suisse Group has a 52 week low of $11.85 and a 52 week high of $16.17. The stock has a 50 day moving average price of $15.09 and a 200-day moving average price of $14.86.

Credit Suisse Group (NYSE:CS) last released its earnings results on Friday, July 28th. The financial services provider reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.05. The company had revenue of $5.28 billion during the quarter. Credit Suisse Group had a negative net margin of 4.84% and a negative return on equity of 2.93%. On average, equities research analysts forecast that Credit Suisse Group will post $1.08 EPS for the current year.

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Several institutional investors have recently modified their holdings of the company. JFS Wealth Advisors LLC raised its position in shares of Credit Suisse Group by 5.0% in the second quarter. JFS Wealth Advisors LLC now owns 7,036 shares of the financial services provider’s stock worth $103,000 after buying an additional 338 shares during the last quarter. Hennessy Advisors Inc. bought a new position in shares of Credit Suisse Group during the first quarter worth approximately $148,000. Edge Wealth Management LLC bought a new position in shares of Credit Suisse Group during the first quarter worth approximately $149,000. Greenleaf Trust bought a new position in shares of Credit Suisse Group during the first quarter worth approximately $151,000. Finally, Two Sigma Securities LLC bought a new position in shares of Credit Suisse Group during the first quarter worth approximately $153,000. 2.94% of the stock is currently owned by hedge funds and other institutional investors.

Credit Suisse Group Company Profile

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.

Analyst Recommendations for Credit Suisse Group (NYSE:CS)

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