UBS Group (NYSE:UBS) Shares Gap Up Following Earnings Beat

UBS Group AG (NYSE:UBS) gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $14.54, but opened at $15.09. UBS Group shares last traded at $14.96, with a volume of 79,285 shares traded.

The bank reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.11. UBS Group had a return on equity of 11.67% and a net margin of 19.84%.

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of UBS Group in a research report on Wednesday. Jefferies Financial Group began coverage on shares of UBS Group in a report on Thursday, July 15th. They set a “buy” rating and a $15.09 price target on the stock. The Goldman Sachs Group restated a “hold” rating on shares of UBS Group in a report on Thursday. Keefe, Bruyette & Woods upgraded shares of UBS Group from a “market perform” rating to an “outperform” rating in a report on Thursday, May 27th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of UBS Group in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. UBS Group presently has an average rating of “Buy” and an average target price of $15.55.

Several hedge funds have recently made changes to their positions in the stock. Exane Asset Management boosted its holdings in shares of UBS Group by 143.7% during the 2nd quarter. Exane Asset Management now owns 2,735,706 shares of the bank’s stock worth $41,856,000 after buying an additional 1,613,005 shares during the period. Gradient Investments LLC raised its stake in UBS Group by 3.6% in the 2nd quarter. Gradient Investments LLC now owns 31,172 shares of the bank’s stock worth $478,000 after purchasing an additional 1,083 shares in the last quarter. Schroder Investment Management Group raised its position in shares of UBS Group by 11.7% in the 1st quarter. Schroder Investment Management Group now owns 4,018,397 shares of the bank’s stock valued at $58,809,000 after buying an additional 419,443 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of UBS Group by 83.8% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 1,186,620 shares of the bank’s stock valued at $18,428,000 after buying an additional 541,020 shares in the last quarter. Finally, Colony Group LLC acquired a new position in shares of UBS Group in the 1st quarter valued at approximately $331,000. 31.55% of the stock is owned by institutional investors and hedge funds.

The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.62. The stock has a market cap of $57.83 billion, a P/E ratio of 8.59, a price-to-earnings-growth ratio of 1.74 and a beta of 1.17. The company’s 50-day moving average is $15.70.

UBS Group Company Profile (NYSE:UBS)

UBS Group AG, together with its subsidiaries, provides financial advice and solutions to private, institutional, and corporate clients worldwide. It operates through four divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management, and Investment Bank. The Global Wealth Management division offers investment advice and solutions, as well as lending solutions, to ultra high net worth and high net worth clients.

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