UBS Group (NYSE:UBS) Receives New Coverage from Analysts at Bank of America

Analysts at Bank of America initiated coverage on shares of UBS Group (NYSE:UBS) in a research report issued on Thursday, StockNewsAPI reports. The firm set a “neutral” rating on the bank’s stock.

Separately, StockNews.com lowered UBS Group from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold”.

UBS Group Stock Performance

UBS stock opened at $29.91 on Thursday. The firm has a market cap of $95.90 billion, a PE ratio of 3.26 and a beta of 1.15. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 4.07. The business has a 50 day moving average of $29.96 and a 200-day moving average of $30.02. UBS Group has a 12-month low of $23.23 and a 12-month high of $32.13.

UBS Group (NYSE:UBS) last released its earnings results on Wednesday, August 14th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.22. The company had revenue of $11.90 billion during the quarter, compared to analyst estimates of $11.26 billion. UBS Group had a return on equity of 2.14% and a net margin of 2.31%. During the same period in the prior year, the company posted $1.88 earnings per share. As a group, sell-side analysts expect that UBS Group will post 1.02 earnings per share for the current year.

Institutional Investors Weigh In On UBS Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its stake in shares of UBS Group by 11,313.2% in the second quarter. Legal & General Group Plc now owns 41,389,783 shares of the bank’s stock worth $1,218,317,000 after purchasing an additional 41,027,134 shares in the last quarter. Vanguard Group Inc. boosted its holdings in UBS Group by 6.8% in the 4th quarter. Vanguard Group Inc. now owns 113,982,749 shares of the bank’s stock worth $3,522,067,000 after buying an additional 7,249,527 shares during the period. M&G Plc purchased a new position in UBS Group in the 1st quarter valued at approximately $173,678,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in UBS Group by 11.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,060,137 shares of the bank’s stock valued at $1,591,242,000 after acquiring an additional 5,508,422 shares during the period. Finally, Capital World Investors lifted its position in shares of UBS Group by 10.5% during the fourth quarter. Capital World Investors now owns 37,059,828 shares of the bank’s stock worth $1,151,033,000 after acquiring an additional 3,523,105 shares in the last quarter.

UBS Group Company Profile

UBS Group AG provides financial advice and solutions to private, institutional, and corporate clients worldwide. It operates through five divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management, Investment Bank, and Non-core and Legacy. The company offers investment advice, estate and wealth planning, investing, corporate and banking, and investment management, as well as mortgage, securities-based, and structured lending solutions.