Bank of New York Mellon Corp Raises Stake in Credit Suisse Group AG (CS)

Bank of New York Mellon Corp lifted its position in Credit Suisse Group AG (NYSE:CS) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,011,376 shares of the financial services provider’s stock after purchasing an additional 17,957 shares during the quarter. Bank of New York Mellon Corp’s holdings in Credit Suisse Group were worth $18,053,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Zions Bancorporation increased its holdings in shares of Credit Suisse Group by 2,018.8% in the third quarter. Zions Bancorporation now owns 7,543 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 7,187 shares during the last quarter. FNY Managed Accounts LLC bought a new stake in shares of Credit Suisse Group in the third quarter worth about $121,000. Valeo Financial Advisors LLC bought a new stake in shares of Credit Suisse Group in the third quarter worth about $145,000. Harbor Advisors LLC bought a new stake in shares of Credit Suisse Group in the fourth quarter worth about $179,000. Finally, Shikiar Asset Management Inc. bought a new stake in shares of Credit Suisse Group in the fourth quarter worth about $184,000. 3.00% of the stock is currently owned by hedge funds and other institutional investors.

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Several equities research analysts have recently issued reports on CS shares. Zacks Investment Research cut Credit Suisse Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Barclays initiated coverage on Credit Suisse Group in a research report on Tuesday, January 16th. They issued an “underweight” rating for the company. Societe Generale upgraded Credit Suisse Group from a “hold” rating to a “buy” rating in a research report on Thursday, February 15th. Goldman Sachs reiterated a “buy” rating on shares of Credit Suisse Group in a research report on Tuesday, December 5th. Finally, Citigroup reiterated a “buy” rating on shares of Credit Suisse Group in a research report on Friday, December 1st. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $21.00.

CS stock opened at $16.65 on Friday. The company has a market capitalization of $45,088.05, a PE ratio of -47.57 and a beta of 1.38. Credit Suisse Group AG has a 12-month low of $13.28 and a 12-month high of $19.98. The company has a debt-to-equity ratio of 4.10, a current ratio of 1.39 and a quick ratio of 1.41.

Credit Suisse Group (NYSE:CS) last released its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $0.07 EPS for the quarter. The company had revenue of $5.26 billion during the quarter. Credit Suisse Group had a positive return on equity of 3.24% and a negative net margin of 3.14%. analysts expect that Credit Suisse Group AG will post 1.4 EPS for the current year.

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About Credit Suisse Group

Credit Suisse Group AG (Credit Suisse) is a financial services company. The Company’s segments include Swiss Universal Bank, International Wealth Management, Asia Pacific, Global Markets, Investment Banking & Capital Markets, Strategic Resolution Unit and Corporate Center. It offers a range of private banking and wealth management solutions to its clients in its Swiss Universal Bank, International Wealth Management and Asia Pacific divisions.

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

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