UBS Group (NYSE:UBS) Shares Gap Up – Here’s What Happened

UBS Group AG (NYSE:UBS)’s share price gapped up before the market opened on Friday . The stock had previously closed at $32.85, but opened at $34.09. UBS Group shares last traded at $34.00, with a volume of 2,548,840 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Bank of America cut UBS Group from a “neutral” rating to an “underperform” rating in a research note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of UBS Group in a research note on Monday, May 12th. Wedbush reiterated a “neutral” rating on shares of UBS Group in a research note on Tuesday, May 27th. DZ Bank upgraded UBS Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 6th. Finally, Jefferies Financial Group upgraded UBS Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

UBS Group Price Performance

The company has a 50 day moving average of $30.39 and a 200-day moving average of $31.90. The stock has a market capitalization of $107.77 billion, a P/E ratio of 22.11 and a beta of 1.16. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 3.76.

UBS Group (NYSE:UBS) last announced its quarterly earnings data on Wednesday, April 30th. The bank reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.09. The firm had revenue of $11.90 billion for the quarter, compared to analysts’ expectations of $10.19 billion. UBS Group had a return on equity of 5.93% and a net margin of 6.93%. Sell-side analysts predict that UBS Group AG will post 1.9 EPS for the current year.

Hedge Funds Weigh In On UBS Group

Several hedge funds and other institutional investors have recently modified their holdings of UBS. SG Americas Securities LLC acquired a new position in shares of UBS Group during the fourth quarter valued at $198,000. Golden State Wealth Management LLC acquired a new position in shares of UBS Group during the fourth quarter valued at $123,000. Exane Asset Management boosted its holdings in shares of UBS Group by 21.7% during the fourth quarter. Exane Asset Management now owns 1,241,028 shares of the bank’s stock valued at $35,633,000 after acquiring an additional 221,123 shares during the period. NatWest Group plc boosted its holdings in shares of UBS Group by 87.2% during the fourth quarter. NatWest Group plc now owns 197,901 shares of the bank’s stock valued at $6,000,000 after acquiring an additional 92,203 shares during the period. Finally, Kingsview Wealth Management LLC acquired a new position in shares of UBS Group during the fourth quarter valued at $218,000.

About UBS Group

UBS Group AG provides financial advice and solutions to private, institutional, and corporate clients worldwide. It operates through five divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management, Investment Bank, and Non-core and Legacy. The company offers investment advice, estate and wealth planning, investing, corporate and banking, and investment management, as well as mortgage, securities-based, and structured lending solutions.