Credit Suisse Group (CS) Shares Gap Down to $12.36

Credit Suisse Group AG (NYSE:CS) shares gapped down before the market opened on Wednesday . The stock had previously closed at $12.64, but opened at $12.36. Credit Suisse Group shares last traded at $12.01, with a volume of 4944774 shares traded.

Several research firms recently commented on CS. JPMorgan Chase & Co. lowered shares of Credit Suisse Group from an “overweight” rating to a “neutral” rating in a research note on Wednesday, March 13th. Keefe, Bruyette & Woods lowered shares of Credit Suisse Group from a “market perform” rating to an “underperform” rating in a research note on Tuesday, March 12th. Berenberg Bank upgraded shares of Credit Suisse Group from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. Zacks Investment Research lowered shares of Credit Suisse Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 9th. Finally, ValuEngine upgraded shares of Credit Suisse Group from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. Credit Suisse Group presently has an average rating of “Hold” and a consensus price target of $16.50.

The company has a debt-to-equity ratio of 3.50, a quick ratio of 1.39 and a current ratio of 1.36. The company has a market cap of $31.59 billion, a PE ratio of 22.24 and a beta of 1.33.

A number of institutional investors have recently modified their holdings of CS. JPMorgan Chase & Co. increased its stake in Credit Suisse Group by 1,125.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,298,021 shares of the financial services provider’s stock valued at $19,392,000 after purchasing an additional 1,192,123 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Credit Suisse Group by 252.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,308,059 shares of the financial services provider’s stock valued at $19,542,000 after purchasing an additional 936,895 shares in the last quarter. SG Americas Securities LLC increased its stake in Credit Suisse Group by 219.2% during the 4th quarter. SG Americas Securities LLC now owns 900,072 shares of the financial services provider’s stock valued at $9,775,000 after purchasing an additional 618,067 shares in the last quarter. Springhouse Capital Management LP acquired a new position in Credit Suisse Group during the 4th quarter valued at approximately $5,811,000. Finally, Renaissance Technologies LLC increased its stake in Credit Suisse Group by 8.3% during the 3rd quarter. Renaissance Technologies LLC now owns 4,515,988 shares of the financial services provider’s stock valued at $67,469,000 after purchasing an additional 344,200 shares in the last quarter. Institutional investors and hedge funds own 2.75% of the company’s stock.

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Credit Suisse Group Company Profile (NYSE:CS)

Credit Suisse Group AG, together with its subsidiaries, provides various financial services worldwide. It operates through six segments: Swiss Universal Bank, International Wealth Management, Asia Pacific, Global Markets, Investment Banking & Capital Markets, and Strategic Resolution Unit. The company offers private banking and wealth management solutions, including advisory, investment, financial planning, succession planning, and trust services; and financing and lending, and multi-shore platform solutions.

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