UBS AG (UBS) Downgraded to “Hold” at Zacks Investment Research
UBS AG (NYSE:UBS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “Shares of UBS Group AG have underperformed the industry on NYSE in the last six months. The company’s profitability continues to be challenged by negative interest rates in the domestic economy and strict regulatory framework. However, UBS Group remains focused on building capital levels, global expansion and executing restructuring initiatives. Moreover, management anticipates to achieve CHF 2.1 billion in net cost reductions by the end of 2017. Further, the company’s strong capital position remains a tailwind.”
UBS has been the topic of a number of other reports. J P Morgan Chase & Co upgraded shares of UBS AG from a “neutral” rating to an “overweight” rating in a research note on Monday, June 26th. BidaskClub cut shares of UBS AG from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. ValuEngine cut shares of UBS AG from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. BNP Paribas began coverage on shares of UBS AG in a research note on Thursday, August 31st. They issued an “outperform” rating on the stock. Finally, Morgan Stanley reiterated a “buy” rating on shares of UBS AG in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $16.14.
Shares of UBS AG (UBS) traded down 0.24% on Thursday, reaching $16.62. 962,001 shares of the company were exchanged. The firm has a 50 day moving average price of $17.00 and a 200-day moving average price of $16.51. UBS AG has a 12-month low of $12.86 and a 12-month high of $18.31. The stock has a market capitalization of $61.77 billion, a PE ratio of 15.43 and a beta of 1.25.
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Several large investors have recently modified their holdings of the company. Mountain Capital Investment Advisors Inc bought a new position in shares of UBS AG in the 2nd quarter worth $118,000. Schafer Cullen Capital Management Inc. increased its holdings in shares of UBS AG by 6.5% in the 2nd quarter. Schafer Cullen Capital Management Inc. now owns 4,199,029 shares of the bank’s stock worth $71,300,000 after buying an additional 255,651 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of UBS AG by 3,116.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,558,612 shares of the bank’s stock worth $43,446,000 after buying an additional 2,479,068 shares during the last quarter. State Street Corp increased its holdings in shares of UBS AG by 0.3% in the 2nd quarter. State Street Corp now owns 15,513,025 shares of the bank’s stock worth $263,411,000 after buying an additional 50,948 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of UBS AG by 5.9% in the 2nd quarter. Royal Bank of Canada now owns 2,535,331 shares of the bank’s stock worth $43,051,000 after buying an additional 141,158 shares during the last quarter. 31.43% of the stock is currently owned by hedge funds and other institutional investors.
UBS AG Company Profile
UBS Group AG is a holding company and conducts its operations through UBS AG and its subsidiaries. The Company comprises Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. Wealth Management division provides advice and tailored financial services to wealthy private clients around the world, except those served by Wealth Management Americas.
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