Bank of America Initiates Coverage on UBS Group (NYSE:UBS)

Stock analysts at Bank of America started coverage on shares of UBS Group (NYSE:UBS) in a research report issued to clients and investors on Thursday, StockNewsAPI reports. The firm set a “neutral” rating on the bank’s stock.

Separately, StockNews.com downgraded UBS Group from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, UBS Group has an average rating of “Hold”.

UBS Group Price Performance

Shares of NYSE UBS opened at $29.90 on Thursday. The company’s fifty day moving average is $29.92 and its two-hundred day moving average is $30.03. The company has a debt-to-equity ratio of 4.07, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $95.87 billion, a P/E ratio of 3.26 and a beta of 1.15. UBS Group has a one year low of $23.23 and a one year high of $32.13.

UBS Group (NYSE:UBS) last issued its earnings results on Wednesday, August 14th. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.22. UBS Group had a net margin of 2.31% and a return on equity of 2.14%. The company had revenue of $11.90 billion for the quarter, compared to analyst estimates of $11.26 billion. During the same period in the prior year, the business posted $1.88 earnings per share. Analysts forecast that UBS Group will post 1.02 EPS for the current fiscal year.

Hedge Funds Weigh In On UBS Group

Several hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new stake in shares of UBS Group in the second quarter valued at approximately $724,000. Point72 Asset Management L.P. acquired a new stake in UBS Group during the 2nd quarter valued at $189,000. Northwestern Mutual Wealth Management Co. increased its position in UBS Group by 14.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 29,025 shares of the bank’s stock worth $857,000 after buying an additional 3,762 shares in the last quarter. NewEdge Advisors LLC increased its position in UBS Group by 17.1% during the second quarter. NewEdge Advisors LLC now owns 52,792 shares of the bank’s stock worth $1,559,000 after buying an additional 7,711 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of UBS Group by 10.0% in the second quarter. Creative Planning now owns 209,672 shares of the bank’s stock worth $6,194,000 after acquiring an additional 19,134 shares during the last quarter.

About UBS Group

UBS Group AG provides financial advice and solutions to private, institutional, and corporate clients worldwide. It operates through five divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management, Investment Bank, and Non-core and Legacy. The company offers investment advice, estate and wealth planning, investing, corporate and banking, and investment management, as well as mortgage, securities-based, and structured lending solutions.