Royal Bank Scotland PLC (The) (RBS) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Royal Bank Scotland PLC (The) (NYSE:RBS) from a buy rating to a hold rating in a research report released on Tuesday.

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. J P Morgan Chase & Co raised shares of Royal Bank Scotland PLC (The) from an underweight rating to a neutral rating in a report on Wednesday, April 19th. Macquarie raised shares of Royal Bank Scotland PLC (The) from a neutral rating to an outperform rating in a report on Friday, April 21st. Keefe, Bruyette & Woods raised shares of Royal Bank Scotland PLC (The) from a market perform rating to an outperform rating in a report on Friday, April 21st. Investec cut shares of Royal Bank Scotland PLC (The) from a hold rating to a sell rating in a report on Thursday, April 27th. Finally, ValuEngine cut shares of Royal Bank Scotland PLC (The) from a hold rating to a sell rating in a report on Friday, June 2nd. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $7.25.

Royal Bank Scotland PLC (NYSE:RBS) opened at 6.69 on Tuesday. The stock has a 50 day moving average price of $6.69 and a 200-day moving average price of $6.37. Royal Bank Scotland PLC has a 1-year low of $4.18 and a 1-year high of $7.06. The company’s market capitalization is $39.67 billion.

Royal Bank Scotland PLC (The) (NYSE:RBS) last issued its earnings results on Friday, August 4th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.10. Royal Bank Scotland PLC (The) had a negative net margin of 23.27% and a positive return on equity of 6.92%. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.10 billion. Equities analysts predict that Royal Bank Scotland PLC will post ($14.00) earnings per share for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Toronto Dominion Bank acquired a new position in shares of Royal Bank Scotland PLC (The) during the first quarter valued at approximately $170,000. Quantum Capital Management acquired a new position in shares of Royal Bank Scotland PLC (The) during the first quarter valued at approximately $107,000. HPM Partners LLC acquired a new position in shares of Royal Bank Scotland PLC (The) during the first quarter valued at approximately $166,000. Narwhal Capital Management boosted its position in shares of Royal Bank Scotland PLC (The) by 25.8% in the second quarter. Narwhal Capital Management now owns 175,515 shares of the financial services provider’s stock valued at $1,146,000 after buying an additional 36,000 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new position in shares of Royal Bank Scotland PLC (The) during the first quarter valued at approximately $176,000. 0.43% of the stock is currently owned by institutional investors.

About Royal Bank Scotland PLC (The)

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

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