Royal Bank of Scotland Group (NYSE:RBS) Shares Up 10.6%

Shares of Royal Bank of Scotland Group PLC (NYSE:RBS) shot up 10.6% during trading on Friday . The company traded as high as $6.88 and last traded at $6.81, 5,469,522 shares changed hands during mid-day trading. An increase of 398% from the average session volume of 1,097,543 shares. The stock had previously closed at $6.16.

Several brokerages have recently issued reports on RBS. Barclays downgraded Royal Bank of Scotland Group from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 1st. Zacks Investment Research downgraded Royal Bank of Scotland Group from a “hold” rating to a “strong sell” rating in a research report on Friday, November 8th. Investec upgraded Royal Bank of Scotland Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Deutsche Bank downgraded Royal Bank of Scotland Group from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. upgraded Royal Bank of Scotland Group from a “neutral” rating to an “overweight” rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Royal Bank of Scotland Group presently has an average rating of “Hold” and a consensus target price of $6.25.

The stock has a market cap of $37.25 billion, a P/E ratio of 15.40 and a beta of 1.18. The company has a fifty day moving average of $5.80 and a 200 day moving average of $5.42. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.06 and a quick ratio of 1.06.

Royal Bank of Scotland Group (NYSE:RBS) last announced its earnings results on Thursday, October 24th. The financial services provider reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.28). Royal Bank of Scotland Group had a return on equity of 4.37% and a net margin of 13.02%. The firm had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $4.08 billion. As a group, analysts anticipate that Royal Bank of Scotland Group PLC will post 0.69 EPS for the current year.

A number of large investors have recently made changes to their positions in the stock. SG Americas Securities LLC raised its holdings in Royal Bank of Scotland Group by 4.7% during the third quarter. SG Americas Securities LLC now owns 43,381 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 1,967 shares in the last quarter. Advisor Partners LLC raised its holdings in Royal Bank of Scotland Group by 19.2% during the third quarter. Advisor Partners LLC now owns 16,942 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 2,728 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in Royal Bank of Scotland Group by 20.6% during the third quarter. Checchi Capital Advisers LLC now owns 15,987 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 2,729 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Royal Bank of Scotland Group by 51.1% during the third quarter. Pacer Advisors Inc. now owns 12,001 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 4,060 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Royal Bank of Scotland Group by 3.0% during the second quarter. Morgan Stanley now owns 183,155 shares of the financial services provider’s stock worth $1,041,000 after purchasing an additional 5,361 shares in the last quarter. 0.57% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Scotland Group Company Profile (NYSE:RBS)

The Royal Bank of Scotland Group plc, together with its subsidiaries, provides banking and financial products and services to personal, commercial, corporate, and institutional customers worldwide. It operates through Personal & Business Banking, Commercial & Private Banking, RBS International, and NatWest Markets segments.

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