Zacks Investment Research downgraded shares of UBS AG (NYSE:UBS) from a buy rating to a hold rating in a report released on Thursday morning.

According to Zacks, “UBS Group AG’s shares have outperformed the industry in the last six months. The company’s second-quarter 2017 results surpassed the Zacks Consensus Estimate. Results reflected higher net interest income and lower trading income. UBS Group remains focused on building capital levels, global expansion and executing restructuring initiatives. Moreover, management anticipates achieving CHF 2.1 billion in net cost reductions by the end of 2017. Also, UBS Group AG’s strong capital position remains a tailwind. However, its profitability continues to be challenged by negative interest rates in the domestic economy.”

UBS has been the subject of several other research reports. BidaskClub raised UBS AG from a sell rating to a hold rating in a research note on Thursday, June 29th. J P Morgan Chase & Co raised UBS AG from a neutral rating to an overweight rating in a research note on Monday, June 26th. Finally, Morgan Stanley reaffirmed a buy rating on shares of UBS AG in a research note on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $16.64.

UBS AG (NYSE UBS) opened at 16.81 on Thursday. UBS AG has a 52 week low of $12.86 and a 52 week high of $18.31. The stock has a market capitalization of $62.48 billion, a PE ratio of 15.80 and a beta of 1.24. The firm has a 50 day moving average of $17.38 and a 200-day moving average of $16.45.

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A number of hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in UBS AG by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 10,862,588 shares of the bank’s stock worth $173,259,000 after buying an additional 272,745 shares in the last quarter. Insight 2811 Inc. bought a new stake in UBS AG during the first quarter worth approximately $169,000. DekaBank Deutsche Girozentrale bought a new stake in UBS AG during the first quarter worth approximately $67,064,000. Advisors Asset Management Inc. bought a new stake in UBS AG during the first quarter worth approximately $490,000. Finally, First Trust Advisors LP boosted its stake in UBS AG by 5.1% in the first quarter. First Trust Advisors LP now owns 21,556 shares of the bank’s stock worth $344,000 after buying an additional 1,045 shares in the last quarter. Hedge funds and other institutional investors own 31.43% of the company’s stock.

UBS AG Company Profile

UBS Group AG is a holding company and conducts its operations through UBS AG and its subsidiaries. The Company comprises Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. Wealth Management division provides advice and tailored financial services to wealthy private clients around the world, except those served by Wealth Management Americas.

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