UBS Group (NYSE:UBS) announced that its board has approved a share buyback plan, which allows the company to buyback outstanding shares on Monday, January 22nd, EventVestor reports. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
Several research firms recently issued reports on UBS. Credit Suisse Group upgraded UBS Group from a “neutral” rating to an “outperform” rating in a report on Thursday. Bank of America upgraded UBS Group from a “neutral” rating to a “buy” rating in a report on Friday, November 10th. Zacks Investment Research cut UBS Group from a “buy” rating to a “hold” rating in a report on Saturday. Societe Generale reiterated a “hold” rating on shares of UBS Group in a report on Monday, October 30th. Finally, Barclays began coverage on UBS Group in a report on Tuesday, January 16th. They issued an “underweight” rating on the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $22.00.
UBS Group (NYSE:UBS) traded up $0.31 on Monday, reaching $20.16. 3,869,000 shares of the company’s stock were exchanged, compared to its average volume of 2,454,261. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.21 and a quick ratio of 1.21. UBS Group has a twelve month low of $15.10 and a twelve month high of $20.17. The stock has a market cap of $77,330.00, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 0.83 and a beta of 1.24.
COPYRIGHT VIOLATION NOTICE: “UBS Group (UBS) to Buyback Stock” was reported by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another publication, it was stolen and republished in violation of international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2018/01/22/ubs-group-ubs-to-buyback-stock.html.
UBS Group 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.
Receive News & Ratings for UBS Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UBS Group and related companies with MarketBeat.com's FREE daily email newsletter.