UBS Group (NYSE:UBS) Raised to Buy at Bank of America

UBS Group (NYSE:UBS) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has a $60.30 target price on the bank’s stock, up from their previous target price of $44.00. Bank of America‘s target price suggests a potential upside of 34.50% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods cut UBS Group from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “buy (b)” rating on shares of UBS Group in a report on Wednesday, October 8th. Wall Street Zen raised shares of UBS Group from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Zacks Research cut shares of UBS Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 14th. Finally, Citigroup restated a “neutral” rating on shares of UBS Group in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, UBS Group presently has an average rating of “Moderate Buy” and an average price target of $60.30.

UBS Group Price Performance

Shares of NYSE:UBS opened at $44.83 on Tuesday. The company has a 50 day moving average of $39.20 and a 200 day moving average of $38.07. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 3.69. The stock has a market cap of $143.76 billion, a P/E ratio of 20.20, a P/E/G ratio of 0.73 and a beta of 1.13. UBS Group has a 12 month low of $25.75 and a 12 month high of $45.35.

UBS Group (NYSE:UBS) last announced its quarterly earnings results on Wednesday, October 29th. The bank reported $0.76 EPS for the quarter, beating the consensus estimate of $0.48 by $0.28. The firm had revenue of $12.76 billion during the quarter, compared to the consensus estimate of $9.68 billion. UBS Group had a net margin of 11.02% and a return on equity of 8.31%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the firm earned $0.43 EPS. As a group, sell-side analysts forecast that UBS Group will post 1.9 EPS for the current fiscal year.

Institutional Trading of UBS Group

Hedge funds have recently modified their holdings of the business. Allworth Financial LP increased its stake in shares of UBS Group by 4.2% in the 3rd quarter. Allworth Financial LP now owns 7,115 shares of the bank’s stock worth $292,000 after acquiring an additional 288 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in UBS Group by 365.8% in the third quarter. CIBC Private Wealth Group LLC now owns 12,133 shares of the bank’s stock worth $497,000 after purchasing an additional 9,528 shares during the period. CIBC Bancorp USA Inc. bought a new position in shares of UBS Group during the third quarter valued at approximately $470,000. Coldstream Capital Management Inc. boosted its position in shares of UBS Group by 4.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 27,292 shares of the bank’s stock worth $1,119,000 after purchasing an additional 1,113 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of UBS Group in the 3rd quarter worth approximately $175,000.

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.