UBS (UBS) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Individual investors often find it hard ...

thamerpicUBS First Quarter Earnings Review: UBS Group AG (NYSE:UBS) reported a spectacular Q1 of 2024 early this morning. The integration of Credit Suisse continues apace. While there remain some cost cuts to complete, the revenue and expense benefits of the rescue deal are flowing through beautifully. This first slide lays out the big picture: consolidated revenue up 4% with expenses down 12%. UBS Revenue and Expense Comparisons (UBS Q1 Presentation)The company lays out total PBT (profit before tax) a ...

UBS Group AG (UBS) reported a first-quarter 2024 net profit attributable to shareholders of $1.75 billion, which surged 70.6% from the year-ago quarter.Results benefited from a rise in total revenues, driven in part by the acquisition of Credit Suisse. However, an increase in operating expenses, along with a significant rise in credit loss expenses, is a near-term concern.The performance of the Asset Management, Personal & Corporate Banking and Investment Bank divisions was impressive. However, Global Wealt ...

UBS Group AG (NYSE:UBS) Q1 2024 Results Conference Call May 7, 2024 3:00 AM ET Company Participants Sarah Mackey - Head, Investor Relations Sergio Ermotti - Group Chief Executive Officer Todd Tuckner - Group Chief Financial Officer Conference Call Participants Alastair Ryan - Bank of America Chris Hallam - Goldman Sachs Kian Abouhossein - JPMorgan Giulia Miotto - Morgan Stanley Jeremy Sigee - BNP Paribas Exane Andy Coombs - Citigroup Anke Reingen - RBC Ben Goy - Deutsche Bank Piers Brown - HSBC Tom Hallett ...

UBS Group AG, the Swiss multinational investment bank and financial services firm, released its quarterly earnings report for Q1 of FY24 on 7 May 2024.Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.The company reported a net profit of $1.8 billion and an underlying PBT of $2.6 billion, with 15% growth Q1 in underlying revenues, and a 5% quarter-on-quarter reduction in underlying operating expenses, resulting in significant positive operating leverage ...

UBS Group AG (UBS) , following its acquisition of Credit Suisse, plans to cut jobs in five separate waves, starting this June. In August 2023, UBS announced its plan to lay off around one in 12 employees in Switzerland to reduce costs by more than $10 billion by 2026. In total, 50-60% of former Credit Suisse employees are likely to be made redundant. The news was reported by Reuters, which cited the SonntagsZeitung newspaper.UBS' plan to reduce costs will mainly result from cutting its workforce. According ...

UBS Group AG (UBS) is considering attaining the complete ownership of its operations in China. In order to do so, UBS will swap its holding in Credit Suisse’s (“CS”) onshore securities business with a Beijing government investment fund. This news was reported by Bloomberg, citing people familiar with the matter.Particularly, UBS Group will acquire 33% stake held in its joint venture with Beijing State-Owned Assets Management Co., UBS Securities Co. In return, UBS is willing to sell part of or its entire 51% ...

UBS logo is seen at the office building in Krakow, Poland on February 22, 2024. (Photo by Jakub ... [+] Porzycki/NurPhoto via Getty Images)NurPhoto via Getty ImagesUBS’ stock (NYSE: UBS) has gained 1% YTD, whereas S&P500 has increased 9% over the same period. Further, at the current price of $31 per share, it is trading at par with its fair value – Trefis’ estimate for UBS’s valuation. Amid the current financial backdrop, UBS stock has seen extremely strong gains of 100% from levels of $15 in early January ...

UBS Group AG (UBS) has announced that its joint venture (JV) with SuMi TRUST Wealth Management Co, (“SuMi”) is set to acquire Credit Suisse's (“CS”) wealth management business in Japan, per Reuters.Per the deal, after the addition of CS’ client assets, UBS Group and SuMi will realign their investments to continue the initial ownership arrangement with UBS retaining 51% and SuMi maintaining 49% ownership in the venture. This JV between UBS and SuMi was launched in August 2021.CS’ advisors and the wealth mana ...

UBS Group AG (UBS) has announced a new share repurchase program. Under the plan, starting from Apr 3, the company is authorized to buy back up to $2 billion worth of common stock. The program will expire on Apr 2, 2026. This year, UBS is expected to buy back up to $1 billion worth of shares under the new plan. This will start following the completion of the merger between UBS AG and Credit Suisse AG, which is expected to take place in the second quarter of 2024. The merger deal was announced on Mar 19, 2023 ...