The Goldman Sachs Group Downgrades Credit Suisse Group (NYSE:CS) to Sell

The Goldman Sachs Group lowered shares of Credit Suisse Group (NYSE:CSGet Rating) from a neutral rating to a sell rating in a report issued on Tuesday, The Fly reports.

CS has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft lowered their price target on Credit Suisse Group from CHF 11 to CHF 8 in a report on Thursday, April 14th. Barclays restated an underweight rating and set a CHF 4 price objective (down from CHF 5) on shares of Credit Suisse Group in a research note on Thursday, July 28th. Morgan Stanley lowered their price objective on Credit Suisse Group from CHF 6.60 to CHF 6 in a research note on Thursday, July 28th. Redburn Partners downgraded Credit Suisse Group from a neutral rating to a sell rating in a research note on Thursday, June 23rd. Finally, Bank of America upgraded Credit Suisse Group from an underperform rating to a neutral rating in a research note on Thursday, July 28th. Seven equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Credit Suisse Group currently has an average rating of Hold and an average target price of $6.84.

Credit Suisse Group Stock Performance

Shares of CS opened at $5.50 on Tuesday. The business’s 50 day moving average is $5.88 and its two-hundred day moving average is $7.22. Credit Suisse Group has a 52-week low of $5.05 and a 52-week high of $11.04. The firm has a market cap of $14.58 billion, a price-to-earnings ratio of -3.85 and a beta of 1.39. The company has a quick ratio of 1.34, a current ratio of 1.35 and a debt-to-equity ratio of 3.43.

Credit Suisse Group Cuts Dividend

The business also recently disclosed a — dividend, which was paid on Monday, May 23rd. Stockholders of record on Tuesday, May 10th were issued a dividend of $0.0528 per share. This represents a dividend yield of 0.5%. The ex-dividend date was Monday, May 9th. Credit Suisse Group’s dividend payout ratio is -2.80%.

Institutional Trading of Credit Suisse Group

Several hedge funds have recently added to or reduced their stakes in the business. OLD Mission Capital LLC boosted its stake in Credit Suisse Group by 713.4% during the 2nd quarter. OLD Mission Capital LLC now owns 1,008,631 shares of the financial services provider’s stock valued at $5,719,000 after purchasing an additional 884,628 shares during the period. Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Credit Suisse Group in the 2nd quarter worth approximately $65,000. Aigen Investment Management LP bought a new stake in shares of Credit Suisse Group in the 2nd quarter worth approximately $407,000. Lake Street Advisors Group LLC lifted its position in shares of Credit Suisse Group by 26.9% in the 2nd quarter. Lake Street Advisors Group LLC now owns 16,843 shares of the financial services provider’s stock worth $96,000 after acquiring an additional 3,575 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Credit Suisse Group by 2,901.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 10,384 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 10,038 shares during the period. Institutional investors own 13.58% of the company’s stock.

About Credit Suisse Group

(Get Rating)

Credit Suisse Group AG, together with its subsidiaries, provides various financial services in Switzerland, Europe, the Middle East, Africa, the Americas, and Asia Pacific. The company offers wealth management solutions, including investment advice and discretionary asset management services; risk management solutions, such as managed investment products; and wealth planning, succession planning, and trust services.

Featured Stories

The Fly logo

Analyst Recommendations for Credit Suisse Group (NYSE:CS)

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