Commerce Bank Purchases Shares of 10,167 Credit Suisse Group AG (NYSE:CS)

Commerce Bank purchased a new stake in shares of Credit Suisse Group AG (NYSE:CS) during the second quarter, HoldingsChannel reports. The institutional investor purchased 10,167 shares of the financial services provider’s stock, valued at approximately $107,000.

A number of other hedge funds have also made changes to their positions in CS. Fifth Third Bancorp raised its stake in shares of Credit Suisse Group by 365.6% during the first quarter. Fifth Third Bancorp now owns 4,172 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 3,276 shares during the period. Bank of Montreal Can raised its stake in shares of Credit Suisse Group by 27.3% during the first quarter. Bank of Montreal Can now owns 6,274 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 1,345 shares during the period. Geneos Wealth Management Inc. purchased a new stake in shares of Credit Suisse Group during the first quarter valued at approximately $85,000. Advisors Asset Management Inc. purchased a new stake in shares of Credit Suisse Group during the second quarter valued at approximately $99,000. Finally, Fourthstone LLC purchased a new stake in shares of Credit Suisse Group during the first quarter valued at approximately $106,000. 3.32% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on CS shares. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Credit Suisse Group in a research note on Friday, July 30th. Morgan Stanley set a $10.15 price target on shares of Credit Suisse Group and gave the stock an “equal weight” rating in a research note on Monday, July 12th. Jefferies Financial Group began coverage on shares of Credit Suisse Group in a research note on Thursday, July 15th. They issued a “hold” rating and a $9.89 price target for the company. TheStreet lowered shares of Credit Suisse Group from a “c-” rating to a “d” rating in a research note on Thursday, August 26th. Finally, Berenberg Bank upgraded shares of Credit Suisse Group from a “hold” rating to a “buy” rating in a research note on Thursday, June 24th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Credit Suisse Group has a consensus rating of “Hold” and an average price target of $10.26.

CS stock opened at $10.41 on Wednesday. The company has a debt-to-equity ratio of 3.88, a current ratio of 1.37 and a quick ratio of 1.37. Credit Suisse Group AG has a 1-year low of $9.28 and a 1-year high of $14.95. The firm has a fifty day moving average price of $10.29 and a two-hundred day moving average price of $10.91. The firm has a market cap of $27.59 billion, a price-to-earnings ratio of 148.74, a PEG ratio of 3.42 and a beta of 1.41.

Credit Suisse Group (NYSE:CS) last released its earnings results on Thursday, July 29th. The financial services provider reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.11). Credit Suisse Group had a net margin of 0.63% and a return on equity of 0.42%. As a group, analysts expect that Credit Suisse Group AG will post 0.68 EPS for the current fiscal year.

Credit Suisse Group Company Profile

Credit Suisse Group AG is holding company, which engages in the provision of financial services. It operates through the following segments: Swiss Universal Bank; International Wealth Management; Asia Pacific; and Investment Banking and Capital Markets. The Swiss Universal Bank segment offers comprehensive advice and financial solutions to private, corporate, and institutional clients in Switzerland.

Further Reading: What is Liquidity?

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Institutional Ownership by Quarter for Credit Suisse Group (NYSE:CS)

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