Credit Suisse Group (NYSE:CS) Shares Gap Up to $10.46

Shares of Credit Suisse Group AG (NYSE:CS) gapped up prior to trading on Friday . The stock had previously closed at $10.06, but opened at $10.46. Credit Suisse Group shares last traded at $10.56, with a volume of 3,773,649 shares changing hands.

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Credit Suisse Group in a report on Friday. Zacks Investment Research raised Credit Suisse Group from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Tuesday, June 23rd. CIBC raised Credit Suisse Group to an “outperformer” rating in a research note on Wednesday, July 15th. Barclays reaffirmed an “underweight” rating on shares of Credit Suisse Group in a research note on Tuesday, July 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Credit Suisse Group in a research note on Friday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $9.75.

The company has a debt-to-equity ratio of 2.97, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a 50-day moving average of $10.36 and a 200-day moving average of $10.22. The stock has a market cap of $26.48 billion, a PE ratio of 6.21 and a beta of 1.44.

Several large investors have recently added to or reduced their stakes in CS. Sunbelt Securities Inc. purchased a new position in Credit Suisse Group during the 4th quarter valued at approximately $3,362,000. Cornerstone Advisors Inc. grew its holdings in Credit Suisse Group by 49.5% during the 2nd quarter. Cornerstone Advisors Inc. now owns 4,064 shares of the financial services provider’s stock valued at $42,000 after buying an additional 1,346 shares in the last quarter. Private Advisor Group LLC grew its holdings in Credit Suisse Group by 15.2% during the 1st quarter. Private Advisor Group LLC now owns 16,854 shares of the financial services provider’s stock valued at $136,000 after buying an additional 2,220 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in Credit Suisse Group by 18.1% during the 1st quarter. Oppenheimer & Co. Inc. now owns 15,653 shares of the financial services provider’s stock valued at $127,000 after buying an additional 2,400 shares in the last quarter. Finally, Ellevest Inc. grew its holdings in Credit Suisse Group by 91.8% during the 1st quarter. Ellevest Inc. now owns 5,966 shares of the financial services provider’s stock valued at $48,000 after buying an additional 2,856 shares in the last quarter. Hedge funds and other institutional investors own 2.50% of the company’s stock.

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.

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