Royal Bank of Scotland Group (RBS) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Royal Bank of Scotland Group (NYSE:RBS) from a hold rating to a buy rating in a research report report published on Wednesday. They currently have $8.50 target price on the financial services provider’s stock.

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. “

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A number of other brokerages have also recently weighed in on RBS. Bank of America cut Royal Bank of Scotland Group from a neutral rating to an underperform rating in a research note on Tuesday, January 16th. Morgan Stanley raised Royal Bank of Scotland Group from an equal weight rating to an overweight rating in a research note on Wednesday, January 10th. Sanford C. Bernstein cut Royal Bank of Scotland Group from an outperform rating to a market perform rating in a research note on Tuesday, January 2nd. ValuEngine cut Royal Bank of Scotland Group from a buy rating to a hold rating in a research note on Monday, April 2nd. Finally, Deutsche Bank raised Royal Bank of Scotland Group from a hold rating to a buy rating in a research note on Monday, March 26th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Royal Bank of Scotland Group presently has an average rating of Hold and an average price target of $8.50.

NYSE:RBS opened at $7.79 on Wednesday. The stock has a market cap of $46,551.20, a P/E ratio of 11.97 and a beta of 1.32. Royal Bank of Scotland Group has a 52-week low of $6.13 and a 52-week high of $8.74. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.88.

Royal Bank of Scotland Group (NYSE:RBS) last released its earnings results on Friday, February 23rd. The financial services provider reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.97 billion. Royal Bank of Scotland Group had a return on equity of 7.37% and a net margin of 8.98%. sell-side analysts anticipate that Royal Bank of Scotland Group will post 0.88 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of RBS. Millennium Management LLC boosted its position in Royal Bank of Scotland Group by 16.9% during the 4th quarter. Millennium Management LLC now owns 82,484 shares of the financial services provider’s stock worth $630,000 after acquiring an additional 11,940 shares during the period. Two Sigma Advisers LP boosted its position in Royal Bank of Scotland Group by 212.4% during the 4th quarter. Two Sigma Advisers LP now owns 73,100 shares of the financial services provider’s stock worth $558,000 after acquiring an additional 49,700 shares during the period. Clearbridge Investments LLC boosted its position in Royal Bank of Scotland Group by 96.9% during the 4th quarter. Clearbridge Investments LLC now owns 832,871 shares of the financial services provider’s stock worth $6,363,000 after acquiring an additional 409,826 shares during the period. Portland Investment Counsel Inc. acquired a new stake in Royal Bank of Scotland Group during the 4th quarter worth about $355,000. Finally, Renaissance Technologies LLC boosted its position in Royal Bank of Scotland Group by 80.1% during the 4th quarter. Renaissance Technologies LLC now owns 2,472,600 shares of the financial services provider’s stock worth $18,891,000 after acquiring an additional 1,099,400 shares during the period. 0.52% of the stock is currently owned by hedge funds and other institutional investors.

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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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Analyst Recommendations for Royal Bank of Scotland Group (NYSE:RBS)

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