Deutsche Bank AG Reiterates Buy Rating for Credit Suisse Group (CS)

Deutsche Bank AG reissued their buy rating on shares of Credit Suisse Group (NYSE:CS) in a research note issued to investors on Thursday, July 20th.

Other equities analysts also recently issued reports about the company. Morgan Stanley reissued a buy rating on shares of Credit Suisse Group in a research note on Tuesday, July 18th. Zacks Investment Research raised Credit Suisse Group from a strong sell rating to a hold rating in a research note on Tuesday, June 27th. BidaskClub upgraded Credit Suisse Group from a hold rating to a buy rating in a report on Saturday, July 8th. Bank of America Corporation started coverage on Credit Suisse Group in a report on Monday, June 19th. They set a buy rating on the stock. Finally, J P Morgan Chase & Co started coverage on Credit Suisse Group in a report on Monday, June 26th. They set an overweight rating on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $17.00.

Shares of Credit Suisse Group (CS) traded down 1.87% during trading on Thursday, reaching $14.70. The company’s stock had a trading volume of 4,250,325 shares. Credit Suisse Group has a 12-month low of $11.85 and a 12-month high of $16.17. The stock’s market capitalization is $37.53 billion. The firm’s 50-day moving average is $15.18 and its 200-day moving average is $14.84.

Credit Suisse Group (NYSE:CS) last announced its earnings results on Friday, July 28th. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by $0.05. The firm 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%. Equities analysts expect that Credit Suisse Group will post $1.08 earnings per share for the current year.

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Several institutional investors have recently modified their holdings of CS. Morgan Stanley boosted its stake 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. boosted its position in 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 in the last quarter. Earnest Partners LLC boosted its position in Credit Suisse Group by 19.9% in the second quarter. Earnest Partners LLC now owns 7,137,108 shares of the financial services provider’s stock valued at $104,202,000 after buying an additional 1,185,069 shares in the last quarter. Bank of America Corp DE boosted its position in 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 in the last quarter. Finally, Symons Capital Management Inc. bought a new position in Credit Suisse Group during the first quarter valued at about $13,990,000. Institutional investors and hedge funds own 2.90% of the company’s stock.

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.