Credit Suisse Group (CS) Shares Gap Up to $15.61

Shares of Credit Suisse Group (NYSE:CS) gapped up prior to trading on Friday . The stock had previously closed at $14.90, but opened at $15.61. Credit Suisse Group shares last traded at $16.14, with a volume of 1882852 shares traded.

CS has been the subject of a number of research analyst reports. Santander upgraded shares of Credit Suisse Group from an “underperform” rating to a “buy” rating in a research note on Tuesday, September 26th. Zacks Investment Research upgraded shares of Credit Suisse Group from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Wednesday, September 13th. Societe Generale upgraded shares of Credit Suisse Group from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Citigroup Inc. restated a “buy” rating on shares of Credit Suisse Group in a research note on Friday, September 8th. Finally, UBS AG restated a “buy” rating on shares of Credit Suisse Group in a research note on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $16.50.

The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 4.03.

A number of hedge funds have recently added to or reduced their stakes in CS. Ameriprise Financial Inc. increased its stake in Credit Suisse Group by 7.5% during the first quarter. Ameriprise Financial Inc. now owns 126,784 shares of the financial services provider’s stock valued at $1,881,000 after purchasing an additional 8,894 shares during the last quarter. Alliancebernstein L.P. acquired a new position in shares of Credit Suisse Group during the first quarter valued at $1,026,000. PNC Financial Services Group Inc. boosted its holdings in shares of Credit Suisse Group by 325.8% during the first quarter. PNC Financial Services Group Inc. now owns 28,385 shares of the financial services provider’s stock valued at $422,000 after acquiring an additional 21,719 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Credit Suisse Group by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,772,073 shares of the financial services provider’s stock valued at $26,298,000 after acquiring an additional 9,006 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in shares of Credit Suisse Group by 4.4% during the first quarter. Clearbridge Investments LLC now owns 439,313 shares of the financial services provider’s stock valued at $6,519,000 after acquiring an additional 18,584 shares during the period. Hedge funds and other institutional investors own 2.94% of the company’s stock.

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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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