Credit Suisse Group (NYSE:CS) Shares Gap Up to $12.27

Credit Suisse Group AG (NYSE:CS)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $11.97, but opened at $12.27. Credit Suisse Group shares last traded at $12.37, with a volume of 2,553,223 shares traded.

CS has been the subject of several recent research reports. Zacks Investment Research upgraded FirstService from a “strong sell” rating to a “hold” rating and set a $110.00 price objective for the company in a report on Tuesday, June 25th. ValuEngine raised shares of Zumiez from a “sell” rating to a “hold” rating in a research report on Saturday, June 22nd. Finally, BMO Capital Markets initiated coverage on shares of Capstone Mining in a research report on Friday, July 5th. They set a “hold” rating and a $1.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $14.50.

The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 3.65. The stock has a 50-day simple moving average of $11.78.

Credit Suisse Group (NYSE:CS) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.29 EPS for the quarter. The firm had revenue of $5.41 billion for the quarter. Credit Suisse Group had a net margin of 6.27% and a return on equity of 4.82%. As a group, equities research analysts anticipate that Credit Suisse Group AG will post 1.33 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of CS. Hansberger Growth Investors LP grew its position in shares of Credit Suisse Group by 19.2% in the first quarter. Hansberger Growth Investors LP now owns 332,585 shares of the financial services provider’s stock valued at $3,875,000 after purchasing an additional 53,486 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of Credit Suisse Group in the first quarter valued at about $109,000. Zions Bancorporation N.A. acquired a new stake in shares of Credit Suisse Group in the first quarter valued at about $44,000. AR Asset Management Inc. acquired a new stake in shares of Credit Suisse Group in the first quarter valued at about $116,000. Finally, Twin Tree Management LP grew its position in shares of Credit Suisse Group by 6.0% in the first quarter. Twin Tree Management LP now owns 362,334 shares of the financial services provider’s stock valued at $4,221,000 after purchasing an additional 20,583 shares during the last quarter.

About Credit Suisse Group (NYSE:CS)

Credit Suisse Group AG, through its subsidiaries, provides various financial services worldwide. It operates through Swiss Universal Bank, International Wealth Management, Asia Pacific, Global Markets, and Investment Banking & Capital Markets segments. 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.

Further Reading: Neutral Rating

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