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 report issued on Monday, July 24th.

Several other research firms have also recently weighed in on CS. ValuEngine raised shares of Credit Suisse Group from a sell rating to a hold rating in a research note on Tuesday, June 27th. 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. 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 for the company. Bank of America Corporation started coverage on shares of Credit Suisse Group in a research note on Monday, June 19th. They issued a buy rating for the company. Finally, Deutsche Bank AG reissued a buy rating on shares of Credit Suisse Group in a research note on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $17.00.

Credit Suisse Group (NYSE:CS) opened at 14.88 on Monday. Credit Suisse Group has a 52-week low of $11.95 and a 52-week high of $16.17. The stock’s 50 day moving average is $15.19 and its 200-day moving average is $14.84. The stock’s market capitalization is $37.99 billion.

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

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Several large investors have recently added to or reduced their stakes in CS. JFS Wealth Advisors LLC raised its stake in 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 valued at $103,000 after buying an additional 338 shares during the period. Quadrant Capital Group LLC raised its stake in Credit Suisse Group by 75.7% in the second quarter. Quadrant Capital Group LLC now owns 10,367 shares of the financial services provider’s stock valued at $131,000 after buying an additional 4,466 shares during the period. Hennessy Advisors Inc. purchased a new stake in Credit Suisse Group during the first quarter valued at about $148,000. Edge Wealth Management LLC purchased a new stake in Credit Suisse Group during the first quarter valued at about $149,000. Finally, Greenleaf Trust purchased a new stake in Credit Suisse Group during the first quarter valued at about $151,000. Hedge funds and other institutional investors own 2.90% 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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