Zacks Investment Research Downgrades Royal Bank of Scotland Group (NYSE:RBS) to Strong Sell

Royal Bank of Scotland Group (NYSE:RBS) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Friday, Zacks.com reports.

According to Zacks, “The Royal Bank of Scotland Group plc is the holding company of one of the world’s largest banking and financial services groups, with a market capitalisation of £62.8 billion at the end of 2006. Headquartered in Edinburgh, the Group operates in the UK, US and internationally through its two principal subsidiaries, the Royal Bank and NatWest. Both the Royal Bank and NatWest are major UK clearing banks whose origins go back over 275 years. In the US, the Group’s subsidiary Citizens is ranked the eighth largest commercial banking organisation by deposits. The Group has a large and diversified customer base and provides a wide range of products and services to personal, commercial and large corporate and institutional customers. “

Several other equities analysts also recently weighed in on RBS. Investec raised Royal Bank of Scotland Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price target on Royal Bank of Scotland Group from $280.00 to $260.00 and set an “overweight” rating for the company in a research report on Saturday, November 2nd. Shore Capital reissued a “buy” rating on shares of Royal Bank of Scotland Group in a research report on Thursday, October 24th. Barclays downgraded Royal Bank of Scotland Group from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 1st. Finally, HSBC downgraded Royal Bank of Scotland Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Royal Bank of Scotland Group has a consensus rating of “Hold” and an average price target of $230.85.

Royal Bank of Scotland Group stock traded down $0.07 during mid-day trading on Friday, hitting $5.48. 1,149,592 shares of the company were exchanged, compared to its average volume of 1,056,751. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.06 and a quick ratio of 1.06. The business’s 50 day simple moving average is $5.44 and its two-hundred day simple moving average is $5.47. The company has a market capitalization of $33.56 billion, a P/E ratio of 11.42 and a beta of 1.17. Royal Bank of Scotland Group has a 12-month low of $4.33 and a 12-month high of $7.31.

A number of institutional investors have recently added to or reduced their stakes in RBS. Crossmark Global Holdings Inc. boosted its holdings in shares of Royal Bank of Scotland Group by 1.7% during the second quarter. Crossmark Global Holdings Inc. now owns 143,761 shares of the financial services provider’s stock worth $817,000 after purchasing an additional 2,440 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Royal Bank of Scotland Group during the second quarter worth $97,000. Sanders Capital LLC boosted its holdings in shares of Royal Bank of Scotland Group by 1.4% during the second quarter. Sanders Capital LLC now owns 253,700 shares of the financial services provider’s stock worth $1,441,000 after purchasing an additional 3,600 shares during the last quarter. Wetherby Asset Management Inc. boosted its holdings in shares of Royal Bank of Scotland Group by 14.5% during the second quarter. Wetherby Asset Management Inc. now owns 32,417 shares of the financial services provider’s stock worth $184,000 after purchasing an additional 4,101 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Royal Bank of Scotland Group by 80.4% during the second quarter. SG Americas Securities LLC now owns 41,414 shares of the financial services provider’s stock worth $235,000 after purchasing an additional 18,455 shares during the last quarter. 0.60% of the stock is owned by institutional investors.

Royal Bank of Scotland Group Company Profile

The Royal Bank of Scotland Group plc, together with its subsidiaries, provides banking and financial products and services to personal, commercial, corporate, and institutional customers worldwide. It operates through Personal & Business Banking, Commercial & Private Banking, RBS International, and NatWest Markets segments.

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