UBS AG (UBS) Raised to “Buy” at Bank of America Corporation

Bank of America Corporation upgraded shares of UBS AG (NYSE:UBS) from a neutral rating to a buy rating in a research note issued to investors on Friday, Marketbeat Ratings reports.

Several other equities analysts also recently issued reports on the stock. Societe Generale restated a hold rating on shares of UBS AG in a report on Monday, October 30th. Zacks Investment Research downgraded shares of UBS AG from a hold rating to a sell rating in a report on Tuesday, October 24th. Instinet downgraded shares of UBS AG from a buy rating to a neutral rating in a report on Sunday, October 1st. ValuEngine downgraded shares of UBS AG from a strong-buy rating to a buy rating in a report on Friday, September 1st. Finally, BNP Paribas assumed coverage on shares of UBS AG in a report on Thursday, August 31st. They set an outperform rating on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $19.00.

UBS AG (UBS) opened at $17.01 on Friday. The company has a market cap of $65,916.91, a PE ratio of 15.01, a price-to-earnings-growth ratio of 0.97 and a beta of 1.24. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 2.46. UBS AG has a fifty-two week low of $15.10 and a fifty-two week high of $18.31.

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A number of hedge funds and other institutional investors have recently modified their holdings of UBS. Franklin Resources Inc. boosted its position in UBS AG by 21.2% in the second quarter. Franklin Resources Inc. now owns 57,935,725 shares of the bank’s stock valued at $981,476,000 after buying an additional 10,125,809 shares during the last quarter. Vanguard Group Inc. boosted its position in UBS AG by 5.7% in the second quarter. Vanguard Group Inc. now owns 86,199,587 shares of the bank’s stock valued at $1,463,669,000 after buying an additional 4,634,833 shares during the last quarter. AXA boosted its position in UBS AG by 94.1% in the second quarter. AXA now owns 6,299,667 shares of the bank’s stock valued at $106,968,000 after buying an additional 3,054,657 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in UBS AG by 3,116.6% in the second quarter. The Manufacturers Life Insurance Company now owns 2,558,612 shares of the bank’s stock valued at $43,446,000 after buying an additional 2,479,068 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in UBS AG by 23.6% in the second quarter. Russell Investments Group Ltd. now owns 9,868,486 shares of the bank’s stock valued at $167,324,000 after buying an additional 1,886,760 shares during the last quarter. Hedge funds and other institutional investors own 31.56% of the company’s stock.

UBS AG Company Profile

UBS Group AG is a holding company and conducts its operations through UBS AG and its subsidiaries. The Company comprises Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. Wealth Management division provides advice and tailored financial services to wealthy private clients around the world, except those served by Wealth Management Americas.

Analyst Recommendations for UBS AG (NYSE:UBS)

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