Royal Bank of Scotland Group (NYSE:RBS) Downgraded by Zacks Investment Research

Royal Bank of Scotland Group (NYSE:RBS) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Friday, Zacks.com reports.

According to Zacks, “The Royal Bank of Scotland Group plc is the holding company of one of the world’s largest banking and financial services groups, with a market capitalisation of £62.8 billion at the end of 2006. Headquartered in Edinburgh, the Group operates in the UK, US and internationally through its two principal subsidiaries, the Royal Bank and NatWest. Both the Royal Bank and NatWest are major UK clearing banks whose origins go back over 275 years. In the US, the Group’s subsidiary Citizens is ranked the eighth largest commercial banking organisation by deposits. The Group has a large and diversified customer base and provides a wide range of products and services to personal, commercial and large corporate and institutional customers. “

A number of other analysts have also issued reports on the company. Redburn Partners raised Royal Bank of Scotland Group from a “sell” rating to a “neutral” rating in a research report on Wednesday, October 16th. Bank of America lowered Royal Bank of Scotland Group from a “neutral” rating to an “underperform” rating in a research report on Tuesday, July 23rd. Barclays lowered Royal Bank of Scotland Group from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 1st. HSBC lowered Royal Bank of Scotland Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Finally, ValuEngine raised Royal Bank of Scotland Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $230.85.

Shares of NYSE RBS traded down $0.07 during midday trading on Friday, reaching $5.48. 1,149,592 shares of the company’s stock were exchanged, compared to its average volume of 1,056,751. Royal Bank of Scotland Group has a 52-week low of $4.33 and a 52-week high of $7.31. The stock has a market capitalization of $33.56 billion, a PE ratio of 11.42 and a beta of 1.17. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 1.06. The business’s fifty day moving average price is $5.44 and its two-hundred day moving average price is $5.47.

Institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. bought a new stake in Royal Bank of Scotland Group in the second quarter valued at about $45,000. Tower Research Capital LLC TRC bought a new stake in Royal Bank of Scotland Group in the second quarter valued at about $55,000. Sage Rhino Capital LLC bought a new stake in Royal Bank of Scotland Group in the second quarter valued at about $61,000. First Trust Advisors LP bought a new stake in Royal Bank of Scotland Group in the second quarter valued at about $81,000. Finally, Cresset Asset Management LLC increased its holdings in Royal Bank of Scotland Group by 524.8% in the second quarter. Cresset Asset Management LLC now owns 15,451 shares of the financial services provider’s stock valued at $88,000 after buying an additional 12,978 shares during the last quarter. 0.60% of the stock is owned by hedge funds and other institutional investors.

About Royal Bank of Scotland Group

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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