UBS Group (NYSE:UBS) Upgraded at Bank of America

UBS Group (NYSE:UBS) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a research report issued on Tuesday,Benzinga reports. The firm currently has a $60.30 price target on the bank’s stock, up from their previous price target of $44.00. Bank of America‘s target price would indicate a potential upside of 41.16% from the company’s previous close.

A number of other research firms have also issued reports on UBS. BNP Paribas lowered shares of UBS Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Keefe, Bruyette & Woods downgraded shares of UBS Group from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 7th. Zacks Research lowered shares of UBS Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of UBS Group in a report on Wednesday, October 8th. Finally, Morgan Stanley reissued an “underweight” rating on shares of UBS Group in a research note on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.30.

UBS Group Price Performance

UBS stock opened at $42.72 on Tuesday. The stock’s 50 day moving average price is $39.04 and its 200 day moving average price is $37.93. The firm has a market cap of $136.97 billion, a P/E ratio of 19.24, a PEG ratio of 0.70 and a beta of 1.13. The company has a debt-to-equity ratio of 3.69, a quick ratio of 1.03 and a current ratio of 1.03. UBS Group has a 1 year low of $25.75 and a 1 year high of $43.76.

UBS Group (NYSE:UBS) last released its quarterly earnings results on Wednesday, October 29th. The bank reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.28. The company had revenue of $12.76 billion during the quarter, compared to analysts’ expectations of $9.68 billion. UBS Group had a return on equity of 8.31% and a net margin of 11.02%.The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 earnings per share. On average, sell-side analysts expect that UBS Group will post 1.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On UBS Group

Hedge funds have recently made changes to their positions in the stock. Flagship Wealth Advisors LLC purchased a new stake in shares of UBS Group during the 3rd quarter valued at $29,000. Larson Financial Group LLC boosted its holdings in UBS Group by 118.4% in the third quarter. Larson Financial Group LLC now owns 821 shares of the bank’s stock valued at $34,000 after acquiring an additional 445 shares during the last quarter. Maseco LLP acquired a new position in UBS Group in the second quarter valued at $28,000. Private Trust Co. NA grew its position in UBS Group by 75.2% during the third quarter. Private Trust Co. NA now owns 853 shares of the bank’s stock valued at $35,000 after acquiring an additional 366 shares during the period. Finally, JPL Wealth Management LLC acquired a new stake in UBS Group during the third quarter worth about $37,000.

UBS Group Company Profile

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.