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

The Goldman Sachs Group cut shares of Credit Suisse Group (NYSE:CSGet Rating) from a neutral rating to a sell rating in a research note published on Tuesday, The Fly reports.

A number of other research analysts have also commented on CS. Citigroup dropped their price objective on shares of Credit Suisse Group from CHF 9.40 to CHF 8 and set a buy rating on the stock in a research note on Monday, May 16th. Barclays restated an underweight rating and issued a CHF 4 price objective (down from CHF 5) on shares of Credit Suisse Group in a research note on Thursday, July 28th. Royal Bank of Canada dropped their price target on shares of Credit Suisse Group from CHF 6.50 to CHF 6 and set a sector perform rating on the stock in a research note on Thursday, July 28th. Berenberg Bank lowered shares of Credit Suisse Group from a buy rating to a hold rating in a research note on Wednesday, May 11th. Finally, Bank of America upgraded shares of Credit Suisse Group from an underperform rating to a neutral rating in a research note on Thursday, July 28th. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $6.84.

Credit Suisse Group Trading Down 6.4 %

NYSE CS opened at $5.40 on Tuesday. The company has a debt-to-equity ratio of 3.43, a quick ratio of 1.34 and a current ratio of 1.35. The firm has a market cap of $14.31 billion, a PE ratio of -3.78 and a beta of 1.39. Credit Suisse Group has a one year low of $5.05 and a one year high of $11.04. The firm’s fifty day moving average is $5.98 and its two-hundred day moving average is $7.30.

Credit Suisse Group Cuts Dividend

The firm also recently declared a — dividend, which was paid on Monday, May 23rd. Shareholders of record on Tuesday, May 10th were issued a $0.0528 dividend. This represents a dividend yield of 0.5%. The ex-dividend date was Monday, May 9th. Credit Suisse Group’s dividend payout ratio (DPR) is presently -2.80%.

Institutional Trading of Credit Suisse Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in shares of Credit Suisse Group by 3.9% during the first quarter. Dimensional Fund Advisors LP now owns 5,131,757 shares of the financial services provider’s stock valued at $40,284,000 after buying an additional 192,576 shares during the period. Natixis Advisors L.P. lifted its stake in shares of Credit Suisse Group by 116.3% during the fourth quarter. Natixis Advisors L.P. now owns 2,840,782 shares of the financial services provider’s stock valued at $27,385,000 after buying an additional 1,527,516 shares during the period. Brandes Investment Partners LP lifted its stake in shares of Credit Suisse Group by 75.2% during the first quarter. Brandes Investment Partners LP now owns 2,459,269 shares of the financial services provider’s stock valued at $19,305,000 after buying an additional 1,055,281 shares during the period. Northern Trust Corp lifted its stake in shares of Credit Suisse Group by 8.7% during the fourth quarter. Northern Trust Corp now owns 1,984,137 shares of the financial services provider’s stock valued at $19,127,000 after buying an additional 158,924 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Credit Suisse Group by 11.3% during the fourth quarter. Bank of America Corp DE now owns 1,887,667 shares of the financial services provider’s stock valued at $18,197,000 after buying an additional 191,753 shares during the period. Hedge funds and other institutional investors own 13.58% of the company’s stock.

Credit Suisse Group Company Profile

(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.

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Analyst Recommendations for Credit Suisse Group (NYSE:CS)

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