Credit Suisse Group (NYSE:CS) Shares Down 6%

Credit Suisse Group AG (NYSE:CS – Get Rating)’s stock price was down 6% on Friday . The stock traded as low as $2.01 and last traded at $2.03. Approximately 25,870,450 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 35,101,703 shares. The stock had previously closed at $2.16.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CS shares. Bank of America raised shares of Credit Suisse Group from a “neutral” rating to a “buy” rating in a research note on Friday, December 9th. Barclays reduced their target price on shares of Credit Suisse Group from CHF 4 to CHF 2.90 and set an “underweight” rating on the stock in a research note on Friday, January 13th. JPMorgan Chase & Co. reduced their target price on shares of Credit Suisse Group from CHF 5.50 to CHF 3.80 and set a “neutral” rating on the stock in a research note on Thursday, December 1st. Bank Of America (Bofa) raised shares of Credit Suisse Group from a “neutral” rating to a “buy” rating and set a CHF 3.60 target price on the stock in a research note on Friday, December 9th. Finally, Kepler Capital Markets downgraded shares of Credit Suisse Group from a “hold” rating to a “reduce” rating in a research note on Monday, February 13th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $5.14.

Credit Suisse Group Stock Down 6.9 %

The business’s 50 day moving average price is $3.15 and its 200-day moving average price is $3.76. The firm has a market capitalization of $6.26 billion, a PE ratio of -0.72 and a beta of 1.38. The company has a debt-to-equity ratio of 3.47, a quick ratio of 1.38 and a current ratio of 1.53.

Credit Suisse Group (NYSE:CS – Get Rating) last released its quarterly earnings results on Thursday, February 9th. The financial services provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.30 billion. Credit Suisse Group had a negative net margin of 33.10% and a negative return on equity of 3.99%. As a group, equities research analysts forecast that Credit Suisse Group AG will post -0.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CS. US Bancorp DE grew its holdings in shares of Credit Suisse Group by 8.9% in the first quarter. US Bancorp DE now owns 50,292 shares of the financial services provider’s stock valued at $395,000 after purchasing an additional 4,130 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of Credit Suisse Group in the first quarter valued at approximately $135,000. Citigroup Inc. grew its holdings in shares of Credit Suisse Group by 162.0% in the first quarter. Citigroup Inc. now owns 539,102 shares of the financial services provider’s stock valued at $4,232,000 after purchasing an additional 333,335 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Credit Suisse Group by 3.9% in 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 purchasing an additional 192,576 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in Credit Suisse Group by 1.8% during the 1st quarter. Sei Investments Co. now owns 274,767 shares of the financial services provider’s stock worth $2,179,000 after acquiring an additional 4,883 shares in the last quarter. Institutional investors and hedge funds own 11.20% of the company’s stock.

Credit Suisse Group Company Profile

(Get Rating)

Credit Suisse Group AG is a holding company, which engages in the provision of financial services. It operates through the following four divisions: Wealth Management, Investment Bank, Swiss Bank and Asset Management and four geographic regions: Switzerland, Europe, the Middle East and Africa (EMEA), Asia Pacific, and Americas.