Credit Suisse Group AG (NYSE:CS) has received an average rating of “Hold” from the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. Two research 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. The average twelve-month price target among brokerages that have covered the stock in the last year is $16.00.
Several brokerages recently issued reports on CS. Zacks Investment Research upgraded shares of Credit Suisse Group from a “sell” rating to a “hold” rating in a research note on Wednesday, December 5th. JPMorgan Chase & Co. lowered Credit Suisse Group from an “overweight” rating to a “neutral” rating in a report on Wednesday, March 13th. ValuEngine raised Credit Suisse Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Goldman Sachs Group reissued a “buy” rating on shares of Credit Suisse Group in a report on Tuesday, January 1st. Finally, Keefe, Bruyette & Woods lowered Credit Suisse Group from a “market perform” rating to an “underperform” rating in a report on Tuesday, March 12th.
Several large investors have recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC boosted its stake in shares of Credit Suisse Group by 12.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 8,772 shares of the financial services provider’s stock worth $95,000 after buying an additional 961 shares during the last quarter. Gator Capital Management LLC lifted its stake in Credit Suisse Group by 0.6% in the fourth quarter. Gator Capital Management LLC now owns 179,500 shares of the financial services provider’s stock valued at $1,949,000 after buying an additional 1,000 shares during the last quarter. Comerica Bank lifted its stake in Credit Suisse Group by 0.8% in the fourth quarter. Comerica Bank now owns 158,865 shares of the financial services provider’s stock valued at $1,961,000 after buying an additional 1,279 shares during the last quarter. Cerity Partners LLC lifted its stake in Credit Suisse Group by 5.2% in the fourth quarter. Cerity Partners LLC now owns 32,468 shares of the financial services provider’s stock valued at $353,000 after buying an additional 1,610 shares during the last quarter. Finally, We Are One Seven LLC purchased a new stake in Credit Suisse Group in the fourth quarter valued at approximately $29,000. 2.75% of the stock is currently owned by institutional investors and hedge funds.
The business also recently announced a special dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be issued a $0.2641 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a dividend yield of 2.17%. This is a positive change from Credit Suisse Group’s previous special dividend of $0.26. Credit Suisse Group’s payout ratio is presently 46.30%.
About Credit Suisse Group
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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