Today: Today, Royal Bank of Scotland Group PLC (RBS) Lifted to “Buy” at Zacks Investment Research

Today, Royal Bank of Scotland Group PLC (RBS) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Royal Bank of Scotland Group PLC (NYSE:RBS) from a hold rating to a buy rating in a report released on Wednesday. The brokerage currently has $5.00 price target on the 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. “

A number of other equities research analysts also recently issued reports on RBS. Deutsche Bank AG reiterated a hold rating on shares of Royal Bank of Scotland Group PLC in a research report on Friday, June 17th. Societe Generale reiterated a hold rating on shares of Royal Bank of Scotland Group PLC in a research report on Friday, June 17th. Bank of America Corp. downgraded shares of Royal Bank of Scotland Group PLC from a neutral rating to an underperform rating in a research report on Monday, June 27th. Jefferies Group downgraded shares of Royal Bank of Scotland Group PLC from a buy rating to a hold rating in a research report on Monday, June 27th. Finally, Royal Bank Of Canada downgraded shares of Royal Bank of Scotland Group PLC from an outperform rating to an underperform rating in a research report on Monday, June 27th. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Royal Bank of Scotland Group PLC currently has an average rating of Hold and an average price target of $21.21.

Royal Bank of Scotland Group PLC (NYSE:RBS) opened at 4.27 on Wednesday. The stock’s market capitalization is $25.01 billion. Royal Bank of Scotland Group PLC has a 52-week low of $3.91 and a 52-week high of $10.15. The firm has a 50-day moving average of $4.89 and a 200-day moving average of $5.66.

Hedge funds have recently bought and sold shares of the company. Wetherby Asset Management Inc. raised its stake in Royal Bank of Scotland Group PLC by 27.4% in the second quarter. Wetherby Asset Management Inc. now owns 24,164 shares of the company’s stock valued at $114,000 after buying an additional 5,200 shares in the last quarter. Capstone Asset Management Co. raised its stake in Royal Bank of Scotland Group PLC by 8.8% in the third quarter. Capstone Asset Management Co. now owns 109,508 shares of the company’s stock valued at $510,000 after buying an additional 8,880 shares in the last quarter. Reliance Trust Co. of Delaware raised its stake in Royal Bank of Scotland Group PLC by 92.1% in the second quarter. Reliance Trust Co. of Delaware now owns 21,778 shares of the company’s stock valued at $102,000 after buying an additional 10,440 shares in the last quarter. Boothbay Fund Management LLC bought a new stake in Royal Bank of Scotland Group PLC during the first quarter valued at about $109,000. Finally, Geode Capital Management LLC raised its stake in Royal Bank of Scotland Group PLC by 224.4% in the first quarter. Geode Capital Management LLC now owns 37,050 shares of the company’s stock valued at $236,000 after buying an additional 25,629 shares in the last quarter. Institutional investors own 0.34% of the company’s stock.

Royal Bank of Scotland Group PLC Company Profile

The Royal Bank of Scotland Group plc (RBS) is a banking and financial services company. The Company provides financial products and services to personal, commercial, corporate and institutional customers, through its subsidiaries, The Royal Bank of Scotland and National Westminster Bank Plc (NatWest), as well as through other brands, including Ulster Bank and Coutts.

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