Zacks Investment Research upgraded shares of Royal Bank of Scotland Group (NYSE:RBS) from a hold rating to a buy rating in a research note published on Wednesday morning. The firm currently has $8.50 price objective 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. “

RBS has been the topic of several other reports. Bank of America downgraded Royal Bank of Scotland Group from a neutral rating to an underperform rating in a report on Tuesday, January 16th. Morgan Stanley upgraded Royal Bank of Scotland Group from an equal weight rating to an overweight rating in a report on Wednesday, January 10th. Sanford C. Bernstein downgraded Royal Bank of Scotland Group from an outperform rating to a market perform rating in a report on Tuesday, January 2nd. ValuEngine downgraded Royal Bank of Scotland Group from a buy rating to a hold rating in a report on Monday, April 2nd. Finally, Deutsche Bank upgraded Royal Bank of Scotland Group from a hold rating to a buy rating in a report on Monday, March 26th. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Royal Bank of Scotland Group has a consensus rating of Hold and a consensus target price of $8.50.

Shares of RBS stock opened at $7.80 on Wednesday. Royal Bank of Scotland Group has a 1 year low of $6.13 and a 1 year 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. The company has a market cap of $46,670.87, a price-to-earnings ratio of 12.00 and a beta of 1.32.

Royal Bank of Scotland Group (NYSE:RBS) last issued its quarterly earnings data on Friday, February 23rd. The financial services provider reported $0.08 earnings per share (EPS) for the quarter. Royal Bank of Scotland Group had a return on equity of 7.37% and a net margin of 8.98%. The business had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.97 billion. equities research analysts anticipate that Royal Bank of Scotland Group will post 0.88 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of RBS. Dimensional Fund Advisors LP raised its holdings in shares of Royal Bank of Scotland Group by 2.6% in the third quarter. Dimensional Fund Advisors LP now owns 3,871,001 shares of the financial services provider’s stock worth $28,181,000 after buying an additional 99,009 shares during the period. Parametric Portfolio Associates LLC grew its stake in Royal Bank of Scotland Group by 16.9% in the third quarter. Parametric Portfolio Associates LLC now owns 1,923,184 shares of the financial services provider’s stock worth $14,001,000 after purchasing an additional 278,429 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Royal Bank of Scotland Group in the fourth quarter worth approximately $189,000. Narwhal Capital Management grew its stake in Royal Bank of Scotland Group by 25.1% in the fourth quarter. Narwhal Capital Management now owns 243,065 shares of the financial services provider’s stock worth $1,857,000 after purchasing an additional 48,800 shares in the last quarter. Finally, Lourd Capital LLC bought a new position in Royal Bank of Scotland Group in the fourth quarter worth approximately $131,000. Hedge funds and other institutional investors own 0.52% of the company’s stock.

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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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