CS - Credit Suisse Group AG

NYSE - Nasdaq Real Time Price. Currency in USD
12.41
+0.14 (+1.17%)
As of 1:15PM EDT. Market open.
Stock chart is not supported by your current browser
Previous Close12.27
Open12.57
Bid12.41 x 21500
Ask12.42 x 800
Day's Range12.40 - 12.58
52 Week Range10.23 - 16.30
Volume1,593,900
Avg. Volume2,464,712
Market Cap31.325B
Beta (3Y Monthly)1.29
PE Ratio (TTM)N/A
EPS (TTM)-0.14
Earnings DateN/A
Forward Dividend & Yield0.26 (2.10%)
Ex-Dividend Date2019-05-03
1y Target Est16.21
Trade prices are not sourced from all markets
  • Deutsche Bank's investment bank chief is leaving
    Yahoo Finance Video11 days ago

    Deutsche Bank's investment bank chief is leaving

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  • Reuters4 hours ago

    MOVES-Credit Suisse hires Goldman banker for Middle East, Turkey, Africa job

    Credit Suisse has hired Hazem Shawki, a Goldman Sachs banker, as its new head of its Middle East, Turkey and Africa investment banking and capital markets division, according to an internal memo seen by Reuters. Shawki will join the Swiss bank in October after a total of 17 years in two periods with Goldman Sachs, the memo said. Shawki's last role at Goldman was head of investment banking Middle East and North Africa (MENA).

  • Financial Times13 hours ago

    Deutsche Bank to poach 13-strong team of ultra-rich bankers from Credit Suisse

    Deutsche Bank is poaching a team of 13 bankers from Credit Suisse in Italy as the troubled lender seeks to grow its wealth management business even as it has been forced to make dramatic cuts to its staff elsewhere. The new team is expected to be led by Roberto Colleta and will focus on serving the ultra-wealthy with assets of $30m or more, as global banks intensify their focus on the super-rich. The move is believed to be the brainchild of Claudio de Sanctis, who joined Deutsche Bank Wealth Management as its new head of Europe in December last year from Credit Suisse.

  • Executive Voice: She preaches workplace culture as Credit Suisse grows
    American City Business Journals5 days ago

    Executive Voice: She preaches workplace culture as Credit Suisse grows

    For Sophia Wajnert, fulfilling Credit Suisse’s 1,200-job promise to the Triangle is a marathon, not a sprint.

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  • Credit Suisse Star Khan's Thwarted Ambition Led to Rift With CEO
    Bloomberg6 days ago

    Credit Suisse Star Khan's Thwarted Ambition Led to Rift With CEO

    (Bloomberg) -- The rift was an open secret for months in the corridors of Credit Suisse Group AG’s imposing central Zurich headquarters before it spilled into the outside world.Iqbal Khan, a rising star at the bank’s key wealth-management business, abruptly left last week. Seen as a potential successor to Chief Executive Officer Tidjane Thiam, he’d enjoyed a rapid ascent to the highest echelons of the bank, making a name for himself as both an effective people and client manager.But his ambitions put him on a collision course with Thiam, who’s in no hurry to leave the bank after a grueling three-year restructuring plan. Khan started exploring possibilities outside the lender -- holding talks with banks including UBS Group AG and Julius Baer Group Ltd., people with knowledge of the matter said -- leading to heightened tensions with the CEO.His departure was the culmination of a high-stakes poker game that pitted Thiam, 56, against one of his most ambitious executives in a power struggle that animated talk around the Paradeplatz square at the heart of Zurich’s financial district. The CEO may now face questions over the loss of a well-liked energetic banker and the risk of some private bankers following their boss. It also leaves Khan without a job. He’s reviewing offers, according to people familiar, who asked not to be identified discussing personnel matters.In recent days, Credit Suisse sought to smooth over the tensions as it faced awkward questions about Khan’s departure and his replacement with a relative unknown. Khan dropped in on his successor‘s first town hall meeting last week to applause. In a call with the firm’s top international wealth-management executives, Thiam praised Khan.See also: Credit Suisse wealth head Khan in talks with banks on next move“It’s definitely a loss for Credit Suisse given International Wealth Management‘s positive transition over the recent years, leaving us somewhat concerned performance in the division may have peaked,” Thomas Hallett, a bank analyst at Keefe, Bruyette & Woods in London, said in a phone interview.Khan declined to comment, while a Credit Suisse spokesman said, “We thank Iqbal for the strong results he delivered during his time leading IWM and wish him well.”Thiam TurnaroundThe wealth-management unit was crucial to Thiam’s turnaround because it offered a growth story to tell alongside painful cuts on the trading floor. Still, Khan is gambling by walking away from the job, where he was among contenders to eventually replace Thiam.Yet that throw of the dice is exactly what Khan is known for, the people said. Born in Pakistan, he immigrated to Switzerland at age 12 and started his career as an auditor before moving into wealth management.Some associates described Khan as confident, even overly so. Others said he is hands-on and approachable, a manager who spent weeks on the shop floor to understand how the business works.The banker is known for waking up in the middle of the night to take conference calls, early morning gym sessions and smooth investor presentations. Executives who worked with Khan describe him as thoughtful and entertaining, but also as someone capable of shaking up the bank’s at times staid and change-resistant hierarchy.Speedy AscentRising from auditor to head of a $400 billion private-banking division within two years, Khan shocked peers with the speed of his ascent. He became CEO of International Wealth Management before his 40th birthday as part of a restructuring project that broke up the bank into regional units, dismantling the power base of longstanding executives. Khan took over a newly created division that housed wealth management for Europe, Emerging Europe and Latin America, as well as asset management.He drew attention from his superiors by re-fashioning the hodgepodge of regions into the lender’s fastest-growing unit.His area was experiencing limited economic expansion but still contributed 45.4 billion Swiss francs ($45.7 billion) in net new assets from 2016 and 2018 -- almost as much as fast-growing Asia. Those inflows were accompanied by 80% profit growth during that period and increasing margins in an industry under pressure from low interest rates and higher costs.A key part of his growth strategy was selling structured products to wealthy individuals, using the banks balance sheet to provide loans for rich clients and building relations between Credit Suisse’s trading unit and wealth management.“Everybody thought IWM is the residual when we started,” Khan said last year. “What is this? Which regions does it cover? Who is this Iqbal? Then in 2017 we shot the lights out. I had the time of my life.”Career AdviceOne of Khan’s first coups was hiring more than a dozen relationship managers in Mexico from crosstown rival UBS Group AG in April 2016, flying there economy to get the deal done.Even though he had little experience with private-banking customers prior to joining Credit Suisse, Khan managed to win over billionaires in meetings, according to one contemporary who attended ultra-high-net-worth client meetings with him. Any hesitation about his abilities with such clients dissolves quickly after watching him at work, the person said.At an event held by a competing bank where he was present, Khan recognized and helped a wealthy individual who wasn’t given a chair. He also offered career advice to the son of a Russian client who didn’t know what to do with his life and sent his condolences to a widow after relationship managers failed to do that.Relations SouredIn recent months, Khan‘s relationship with Thiam soured. When a corporate reorganization came in February, Khan‘s brief stayed the same, even as two colleagues were elevated to the executive committee. Tensions mounted as Khan’s name surfaced in media reports as a candidate to replace Bernhard Hodler as head of Julius Baer. That job eventually went to Philipp Rickenbacher, a little-known internal candidate.Khan held informal discussions with rivals including Julius Baer Ltd. and UBS and a third unidentified global bank, according to the people. When media reports surfaced linking him to Julius Baer, Khan didn’t deny them, to the surprise of some in the bank and externally.While rumors swirled outside the bank, Khan threw himself into work, personally negotiating the disposal of Credit Suisse‘s fund-administration platform Investlab to Allfunds last month.Now, all eyes are on his next move. Given the relative paucity of bankers in Zurich considered candidates for top jobs, that still makes Khan a sought-after man, said one executive recruiter.To contact the reporters on this story: Patrick Winters in Zurich at pwinters3@bloomberg.net;Jan-Henrik Förster in London at jforster20@bloomberg.netTo contact the editors responsible for this story: Dale Crofts at dcrofts@bloomberg.net, Steven CrabillFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Deutsche Bank (DB) Restructuring: What You Need to Know & What's Next
    Zacks7 days ago

    Deutsche Bank (DB) Restructuring: What You Need to Know & What's Next

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  • Bloomberg8 days ago

    Credit Suisse Hires Ford’s Heyer to Lead Auto Tech Banking

    (Bloomberg) -- Credit Suisse Group AG has hired Joe Heyer from Ford Motor Co. to oversee investment banking in the automotive technology sector.Heyer’s coverage area will include autonomous vehicles, components and software, the bank said Monday in a memo that was confirmed by a spokesman. He will report to David Wah, the global head of technology, and will also partner with the global industrials group, according to the memo.The newly created role at the bank reflects how technology has been upending almost every corner of the auto industry. Electric-car makers led by Tesla Inc. are taking market share from traditional players, while newly public ride-hailing companies Uber Technologies Inc. and Lyft Inc. are changing how people get around in cities.These industry shifts have led to deals such as chipmaker Intel Corp. agreeing to buy automotive sensor company Mobileye NV for $15.3 billion in 2017 and Amazon.com Inc. leading a $700 million funding round in electric-pickup maker Rivian Automotive LLC this year. Ford also invested $500 million in the company.“The rapid advances in transportation made possible by innovation across hardware and software have implications for a wide array of industrial and consumer markets,” Wah said in the memo.Ford, GuggenheimHeyer was previously an executive director and head of business development at Ford. He had been at the automaker since 2015. Before that, he was a managing director at Guggenheim Partners.He is set to start at Credit Suisse in New York next month as a managing director.“He has done some great work for Ford,” said T.R. Reid, a spokesman for the automaker. “We wish him nothing but the best at Credit Suisse.”Heyer and a representative for Credit Suisse declined to comment.Credit Suisse was one of the lead underwriters of Lyft’s initial public offering in March. The Swiss bank ranks fourth in league tables for global technology deals, according to data compiled by Bloomberg.(Updates with Ford comment eighth paragraph)To contact the reporters on this story: Liana Baker in New York at lbaker75@bloomberg.net;David Welch in Southfield at dwelch12@bloomberg.netTo contact the editors responsible for this story: Daniel Hauck at dhauck1@bloomberg.net, ;Craig Trudell at ctrudell1@bloomberg.net, Michael Hytha, David ScheerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Zacks8 days ago

    Deutsche Bank (DB) Announces Radical Restructuring Plans

    Deutsche Bank (DB) aims to improve profitability by undertaking major restructuring plans, improve shareholder returns and drive long-term growth.

  • Financial Times8 days ago

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  • Investing.com13 days ago

    Crude Oil Prices Rise, Shrugging off Bearish Crude Inventory Data

    Investing.com - Crude oil prices rose on Wednesday, even as a lower-than-expected draw in U.S. oil inventories added to fears of a looming glut in global supplies.

  • PR Newswire13 days ago

    Credit Suisse Announces Coupon Payments and Expected Coupon Payments on Credit Suisse X-Links® Exchange Traded Notes (the "ETNs")

    NEW YORK , July 3, 2019 /PRNewswire/ -- On July 2, 2019 , Credit Suisse declared coupon payments for the following ETNs: ETN Ticker ETN Name Closing Indicative Value on 6/28/19 Ex-Date Record Date Payment ...

  • PR Newswire13 days ago

    Credit Suisse Announces Coupon Amount on its Credit Suisse S&P MLP Index ETN (ticker symbol "MLPO").

    NEW YORK, July 3, 2019 /PRNewswire/ -- On July 2, 2019, Credit Suisse declared a Coupon Amount for the Credit Suisse S&P MLP Index ETN (the "ETN"). * The "Current Yield" equals the current quarterly Coupon Amount, annualized and divided by the Closing Indicative Value of the ETN on June 28, 2019. † The Current Yield is not indicative of future quarterly Coupon Amounts, if any, on the ETNs.

  • Credit Suisse wealth boss Iqbal Khan quits in pursuit of top job
    Reuters14 days ago

    Credit Suisse wealth boss Iqbal Khan quits in pursuit of top job

    Credit Suisse wealth management boss Iqbal Khan is leaving Switzerland's second-largest bank in the latest high-level departure under Chief Executive Tidjane Thiam. Khan's surprise move "to pursue other opportunities" sparked speculation that the 43-year-old, who has overseen solid growth and profitability gains at Credit Suisse, could move to Swiss rivals Julius Baer or UBS. Khan is considering offers from Swiss and international banks and plans to make a decision in late August or September, the source, who spoke on condition of anonymity, said.

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  • Credit Suisse wealth boss Khan quits in pursuit of top job
    Reuters15 days ago

    Credit Suisse wealth boss Khan quits in pursuit of top job

    Credit Suisse wealth management boss Iqbal Khan is leaving Switzerland's second-largest bank in the latest high-level departure under Chief Executive Tidjane Thiam. Khan's surprise move "to pursue other opportunities" sparked speculation that the 43-year-old, who has overseen solid growth and profitability gains at Credit Suisse, could move to Swiss rivals Julius Baer or UBS . Khan is considering offers from Swiss and international banks and plans to make a decision in late August or September, the source, who spoke on condition of anonymity, said.

  • Deutsche Bank Plans to Reduce Global Headcount by 20,000
    Zacks15 days ago

    Deutsche Bank Plans to Reduce Global Headcount by 20,000

    Deutsche Bank (DB) aims to improve profitability by undertaking cost cuts due to muted performance of its investment banking segment.

  • Is Credit Suisse Group AG (CS) A Good Stock To Buy ?
    Insider Monkey16 days ago

    Is Credit Suisse Group AG (CS) A Good Stock To Buy ?

    "Since 2006, value stocks (IVE vs IVW) have underperformed 11 of the 13 calendar years and when they beat growth, it wasn't by much. Cumulatively, through this week, it has been a 122% differential (up 52% for value vs up 174% for growth). This appears to be the longest and most severe drought for value […]

  • Should You Buy Bank of America After Dividend and Buyback Boost?
    InvestorPlace18 days ago

    Should You Buy Bank of America After Dividend and Buyback Boost?

    Bank of America (NYSE:BAC), JPMorgan (NYSE:JPM) Goldman Sachs (NYSE:GS) and others are on the move Friday. The rally comes after many in the banking sector were given the green light to raise their dividend payouts and increase their buybacks. Among them was BAC stock.Source: Shutterstock On June 21st, all 18 banks passed the Fed's stress test. On the 27th, the Fed approved numerous capital return increases from various banks.For Bank of America stock specifically, the company can buyback up to $30.9 billion worth of stock. Management also plan to raise the quarterly dividend by 20% to 18 cents per share. At 72 cents per share annually, that will boost BAC stock's dividend yield to roughly 2.5%. That's up from the current 2.13% payout it sports now.InvestorPlace - Stock Market News, Stock Advice & Trading TipsOn the buyback front, $30.9 billion represents more than 11.5% of the bank's current market cap. It's also a huge increase from the $20.6 billion buyback that was approved last year. In fact, it's 50% larger this year, showing just how strong of a balance sheet CEO Brian Moynihan & Co. have built since the financial crisis. Who Else Is Boosting Returns?JPMorgan was already attractive before it boosted its results. But after the Fed's approval, it gets even better. JPM will raise its quarterly dividend 12.5% to 90 cents a share from 80 cents a share. Shares will yield 3.3% at current prices, while the bank can repurchase up to $29.4 billion worth of stock. That's up big from last year's $20.7 billion buyback approval. Although the dividend bump seems modest, keep in mind, JPM raised its dividend by 40% in 2018, while having the largest capital return plan in 2017 and 2018.Citigroup (NYSE:C) plans to bump its quarterly dividend to 51 cents per share from 45 cents per share, a 13% increase. The stock would yield about 3% based on Thursday's closing price, although shares will rally in response. Citigroup can also repurchase up to $17.1 billion in stock. That's a bit more than 10% of its $160 billion market cap.Goldman Sachs can buy up to $7 billion worth of stock and plans a big increase in its dividend. The bank is raising its quarterly payout from 85 cents per share to $1.25 per share. The 47% bump to the dividend brings Goldman's yield to a level that's more in line with some of its banking peers. Shares will now yield about 2.5%, up big from its prior yield of 1.7%.Most banks' capital return plan -- although not all, like Credit Suisse (NYSE:CS) -- were approved by the Fed. That suggests healthy balance sheets and strong financials. While it's not clear when a recession will hit, investors should feel more comfortable this time around than they did a decade ago. At least when it comes to the strength of the banking system. Trading BAC Stock Click to EnlargeSo where does all of this leave BAC stock?Bank of America stock lags both Citigroup and JPMorgan in dividend yield and is now in-line with Goldman Sachs. However, while GS trades at just 8.5 times this year's earnings, estimates call for a year-over-year decline in both revenue and earnings. BAC estimates call for growth in both categories and trades at roughly 10 times earnings.So BAC trumps GS in some views, but what about JPM and C? Earnings and revenue estimates for BAC stock lag JPMorgan and Citigroup in 2019. Only in 2020 does BAC edge either of them in either category (with growth expectations of 10.2% earnings growth to JPMorgan's 6.2% growth).According to the data -- growth, valuation and yield -- Citigroup seems like the best all around pick. But that does not make BAC stock a bad bank to own.On the stock charts, BAC has been mostly range-bound between $26.50 support and $30.50 resistance. Over the 20-day and 200-day moving averages is good, as Bank of America stock trends higher (purple line). I want to see if this news can break BAC stock out over $29 and over the 50-day. * 10 Small-Cap Stocks That Look Like Bargains If it can, a run to range resistance is possible. Below $27.75 and a retest of range support could be in the cards.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 7 Top Small-Cap Stocks Of 2019 * Critical Levels to Watch in 7 Marijuana Stocks * 5 Smaller Cloud Stocks That Have Plenty of Potential Compare Brokers The post Should You Buy Bank of America After Dividend and Buyback Boost? appeared first on InvestorPlace.