Zacks Investment Research Lowers Royal Bank of Scotland Group (RBS) to Hold

Zacks Investment Research cut shares of Royal Bank of Scotland Group (NYSE:RBS) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “The Royal Bank of Scotland Group plc is the holding company of one of the world’s largest banking and financial services groups, with a market capitalisation of £62.8 billion at the end of 2006. Headquartered in Edinburgh, the Group operates in the UK, US and internationally through its two principal subsidiaries, the Royal Bank and NatWest. Both the Royal Bank and NatWest are major UK clearing banks whose origins go back over 275 years. In the US, the Group’s subsidiary Citizens is ranked the eighth largest commercial banking organisation by deposits. The Group has a large and diversified customer base and provides a wide range of products and services to personal, commercial and large corporate and institutional customers. “

Several other equities research analysts have also recently issued reports on the stock. Citigroup raised shares of Royal Bank of Scotland Group from a sell rating to a neutral rating in a research note on Tuesday, October 10th. Credit Suisse Group raised shares of Royal Bank of Scotland Group from an underperform rating to a neutral rating in a research note on Tuesday, October 10th. BNP Paribas raised shares of Royal Bank of Scotland Group from a neutral rating to an outperform rating in a research note on Thursday, October 5th. ValuEngine raised shares of Royal Bank of Scotland Group from a buy rating to a strong-buy rating in a research note on Tuesday, October 3rd. Finally, Jefferies Group raised shares of Royal Bank of Scotland Group from a hold rating to a buy rating in a research note on Wednesday, September 27th. Thirteen equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $8.25.

Shares of Royal Bank of Scotland Group (NYSE RBS) opened at $7.43 on Wednesday. Royal Bank of Scotland Group has a one year low of $4.87 and a one year high of $7.68. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.82. The stock has a market cap of $44,817.76, a price-to-earnings ratio of 9.92 and a beta of 1.12.

Royal Bank of Scotland Group (NYSE:RBS) last announced its earnings results on Friday, October 27th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15. Royal Bank of Scotland Group had a negative net margin of 17.46% and a positive return on equity of 7.75%. The company had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.19 billion. sell-side analysts forecast that Royal Bank of Scotland Group will post 0.7 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wetherby Asset Management Inc. raised its holdings in shares of Royal Bank of Scotland Group by 24.4% during the 2nd quarter. Wetherby Asset Management Inc. now owns 16,099 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 3,159 shares during the period. Quantbot Technologies LP raised its holdings in shares of Royal Bank of Scotland Group by 109.5% during the 2nd quarter. Quantbot Technologies LP now owns 26,025 shares of the financial services provider’s stock worth $169,000 after acquiring an additional 13,600 shares during the period. Grove Bank & Trust raised its holdings in shares of Royal Bank of Scotland Group by 259.2% during the 2nd quarter. Grove Bank & Trust now owns 19,610 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 14,150 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Royal Bank of Scotland Group during the 2nd quarter worth $102,000. Finally, Institute for Wealth Management LLC. purchased a new position in shares of Royal Bank of Scotland Group during the 2nd quarter worth $103,000. Institutional investors and hedge funds own 0.48% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This story was originally published by Community Financial News and is owned by of Community Financial News. If you are viewing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright law. The original version of this story can be viewed at https://www.com-unik.info/2017/12/02/zacks-investment-research-lowers-royal-bank-of-scotland-group-rbs-to-hold.html.

Royal Bank of Scotland Group Company Profile

The Royal Bank of Scotland Group plc (RBS) is a banking and financial services company. The Company provides a range of products and services to personal, commercial, corporate and institutional customers, through its subsidiaries, The Royal Bank of Scotland plc and National Westminster Bank Plc (NatWest), as well as through other brands, including Ulster Bank and Coutts.

Get a free copy of the Zacks research report on Royal Bank of Scotland Group (RBS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Royal Bank of Scotland Group (NYSE:RBS)

Receive News & Ratings for Royal Bank of Scotland Group PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank of Scotland Group PLC and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit