UBS AG (UBS) Stock Rating Upgraded by Zacks Investment Research
According to Zacks, “UBS Group AG’s third-quarter 2016 net profit attributable to shareholders declined substantially year over year. However, pre-tax operating profit improved year over year. The company recorded reduced profitability in its Investment Bank and Wealth Management units, while witnessing improved profitability in other segments. Net trading income increased while net interest income and net fee and commission declined. We remain optimistic as the company remains focused on building capital levels and executing restructuring initiatives. Management remains confident to achieve CHF 2.1 billion in net cost reductions by the end of 2017. However, profitability continues to be challenged by a stressed operating environment with negative interest rates and global growth concerns. Also, the comapny is burdened with numerous legal hassles.”
Other equities analysts have also issued research reports about the stock. Keefe, Bruyette & Woods upgraded shares of UBS AG from a market perform rating to an outperform rating in a research report on Thursday, November 10th. Royal Bank Of Canada upgraded shares of UBS AG from an underperform rating to a sector perform rating in a research report on Wednesday, October 5th. BNP Paribas reiterated a sell rating on shares of UBS AG in a research report on Monday, September 12th. Vetr upgraded shares of UBS AG from a hold rating to a buy rating and set a $14.27 price objective for the company in a research report on Monday, September 19th. Finally, Citigroup Inc. reiterated a buy rating on shares of UBS AG in a research report on Tuesday, October 25th. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. UBS AG has a consensus rating of Hold and a consensus target price of $15.73.
Shares of UBS AG (NYSE:UBS) opened at 15.51 on Thursday. The stock’s 50 day moving average is $14.51 and its 200-day moving average is $14.10. The company has a market cap of $57.53 billion, a price-to-earnings ratio of 17.16 and a beta of 1.27. UBS AG has a 52 week low of $11.93 and a 52 week high of $19.94.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Credit Suisse AG increased its position in UBS AG by 4.8% in the second quarter. Credit Suisse AG now owns 112,739,089 shares of the company’s stock valued at $1,461,098,000 after buying an additional 5,186,336 shares in the last quarter. Vanguard Group Inc. increased its position in UBS AG by 4.7% in the second quarter. Vanguard Group Inc. now owns 77,566,541 shares of the company’s stock valued at $1,005,263,000 after buying an additional 3,488,096 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in UBS AG by 7.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,945,753 shares of the company’s stock valued at $545,164,000 after buying an additional 2,748,407 shares in the last quarter. Fisher Asset Management LLC increased its position in UBS AG by 11.5% in the third quarter. Fisher Asset Management LLC now owns 35,026,108 shares of the company’s stock valued at $477,056,000 after buying an additional 3,618,201 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in UBS AG by 607.7% in the second quarter. Franklin Resources Inc. now owns 33,257,077 shares of the company’s stock valued at $428,318,000 after buying an additional 28,557,465 shares in the last quarter. 25.98% of the stock is currently owned by institutional investors.
About UBS AG
UBS Group AG (UBS) is a holding company. The Company provides a range of financial services, including advisory services, underwriting, financing, market-making, asset management and brokerage on a global level, and retail banking in Switzerland. The Company comprises Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank.
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