UBS - UBS Group AG
| Previous close | 18.91 |
| Open | 19.29 |
| Bid | 19.38 x 1000 |
| Ask | 19.39 x 3200 |
| Day's range | 19.24 - 19.42 |
| 52-week range | 13.80 - 22.30 |
| Volume | |
| Avg. volume | 5,461,855 |
| Market cap | 60.352B |
| Beta (5Y monthly) | 1.09 |
| PE ratio (TTM) | 9.91 |
| EPS (TTM) | 1.96 |
| Earnings date | N/A |
| Forward dividend & yield | 0.55 (2.82%) |
| Ex-dividend date | 12 Apr 2023 |
| 1y target est | 27.86 |
Business WireUBS Announces Redemption of Two ETNs
NEW YORK, May 31, 2023--UBS AG announced today that it will redeem all of the outstanding securities in each of the two series of UBS-issued exchange traded notes set forth in the following table (collectively, the "ETNs"). UBS AG expects to deliver redemption notices with respect to each of the ETNs to holders of the applicable ETNs with Call Settlement Dates as set forth in the table below.
Business WireUBS Releases Statement Regarding Use of U.S. Dollar LIBOR Rate for Fifteen ETNs
NEW YORK, May 31, 2023--The UK Financial Conduct Authority announced that the three-month USD LIBOR settings will either cease publication or no longer be representative after June 30, 2023. UBS AG is issuing this press release to provide notice that UBS Securities LLC, in its role as the Security Calculation Agent or Calculation Agent of each LIBOR-linked ETN (defined below), has determined a successor rate that will replace the use of the three-month U.S. Dollar London Interbank Offered Rate (
ReutersCredit Suisse bankers leaving by the hundreds every week - sources
Hundreds of Credit Suisse's employees are resigning each week in a sign of uncertainty gripping the lender while it is being taken over by rival UBS, two people familiar with the matter said on Wednesday. Credit Suisse bankers, worried about their future are seeking safer employment at competitors, one person said. Swiss newspaper Blick reported earlier on Wednesday that each day around 150 people worldwide were resigning from Credit Suisse while one of the two people said they saw about 200 resignations a week.
ReutersExclusive-Credit Suisse axes China bank plan to avoid regulatory conflict under UBS-sources
HONG KONG/SHANGHAI (Reuters) -Credit Suisse has scrapped plans to set up a locally incorporated bank in China to sidestep a potential regulatory conflict arising from its merger with UBS, said two sources with direct knowledge of the matter. Embattled Credit Suisse had been preparing for years to set up a wholly owned local bank in China. The reason for the Swiss lender's decision was that UBS, which is acquiring Credit Suisse as part of a government-orchestrated rescue of its smaller rival, already has a locally incorporated bank in China, said the sources.
ReutersSwitzerland's Social Democrats propose shrinking UBS
ZURICH (Reuters) -Switzerland's Social Democratic Party has drawn up a proposal to shrink UBS assets after its takeover of Credit Suisse to reduce the risk of another expensive state-backed rescue, its lawmaker was quoted as saying on Tuesday. It was not clear, though, how much traction the proposal, which was presented by Samira Marti in an interview with Swiss newspaper Aargauer Zeitung, can get. The combined bank will have a balance sheet of around 1.5 trillion Swiss francs - roughly double the size of the Swiss economy, posing enormous risks to the country especially as it enjoys an implicit state guarantee, Marti said.
ZacksUBS Group (UBS) to Shut TBA Trading in US Mortgage Unit
UBS Group (UBS) plans to wind down to-be-announced ("TBA") trading in U.S. mortgage unit. This is in line with efforts to shift business strategy and concentrate on financing mortgage originators.
- Financial Times
Credit Suisse ordered to pay $926mn to former prime minister of Georgia
Ruling from Singaporean judge comes shortly before UBS is expected to complete takeover of Swiss rival
- Zacks
UBS' Buyout of Credit Suisse Gets EU Antitrust Approval
UBS Group AG's (UBS) acquisition of Credit Suisse Group AG receives the European Commission's nod after the latter concluded that the deal would not raise competition concerns.
Business WireFour UBS wealth management advisors in Hawaii named to Forbes and Barron’s Top Advisor Lists
HONOLULU, May 25, 2023--Four UBS financial advisors in Hawaii: Matthew Megorden, Daniel Shiu, Kyle Yoneshige and Lori Hamano, named to Barron’s and Forbes recognition lists.
ZacksUBS (UBS) Down 1.5% Since Last Earnings Report: Can It Rebound?
UBS (UBS) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
ReutersUBS gains EU antitrust approval to acquire Credit Suisse
UBS on Thursday won unconditional EU antitrust approval to acquire Credit Suisse as part of a government-orchestrated rescue of its Swiss rival. The European Commission said the deal would not raise competition concerns in Europe, confirming a Reuters story earlier this month. UBS, which is twice as big as Credit Suisse by assets, agreed to buy its competitor for 3 billion Swiss francs in stock and to assume up to 5 billion francs in losses in March, in a shotgun merger engineered by Swiss authorities to avert contagion in global banking.
ZacksBank of Montreal (BMO) Stock Down 4.6% as Q2 Earnings Fall Y/Y
The acquisition of Bank of the West supports Bank of Montreal's (BMO) fiscal Q2 results as revenues increase. Yet, higher expenses and provisions act as headwinds.
ReutersUBS in talks with Swiss authorities over Credit Suisse deal protections
The disclosure underscores how some aspects of the tie-up between the two banks, arranged hastily over a weekend in mid-March by the Swiss government to stave off a broader banking crisis, have yet to be ironed out. The Swiss government agreed at the time to shoulder up to 9 billion Swiss francs ($10.12 billion) in potential losses from the deal and offered liquidity assistance of up to 100 billion Swiss francs. UBS said in the filing that it expected the main terms of the loss protection agreement to be agreed prior to the acquisition of Credit Suisse being completed.
Business WireUBS declares quarterly coupon payments on Exchange Traded Note: AMUB
NEW YORK, May 23, 2023--UBS Investment Bank today announced coupon payments for the ETRACS Alerian MLP Index ETN Series B (NYSE Arca: "AMUB"), traded on the NYSE Arca.
ReutersStandard Chartered CEO: Credit Suisse sale to UBS was 'surprising'
DOHA (Reuters) -Standard Chartered CEO Bill Winters on Tuesday said the sale of Credit Suisse to UBS was "surprising" given the "unusual" terms of the deal, which prioritised shareholders over bondholders. "The conclusion was very surprising to me, in terms of the way that the bank was resolved through this very unusual sale to UBS, with associated unusual payments to shareholders versus bondholders," Winters told an audience at the Qatar Economic Forum, organised by Bloomberg. Under the rescue deal, engineered by Swiss authorities over one March weekend amid global banking turmoil, UBS agreed to buy Credit Suisse for 3 billion Swiss francs ($3.4 billion) in stock and to assume up to 5 billion francs in losses that would stem from winding down part of the business.
ReutersCredit Suisse bankruptcy event has not occurred - CDS panel
(Reuters) -A derivatives committee ruled on Monday that a bankruptcy credit event had not occurred in relation to Credit Suisse, quashing investors' efforts to trigger a payout on credit insurance linked to the Swiss lender. The ruling was in response to an investor question about $17 billion in senior and subordinated bonds issued by Credit Suisse whose holders were wiped out when the Swiss bank was taken over by UBS in March in a state-assisted deal. It should not surprise investors who have read the Credit Suisse prospectuses, said Philip Jacoby, chief investment officer at Spectrum Asset Management in Stamford, Connecticut, one of the biggest holders of the bank's debt months before its takeover.
- Financial Times
Credit Suisse privately challenged Finma’s AT1 writedown
Credit Suisse directly disputed the Swiss financial regulator’s basis for writing down $17bn of its additional tier 1 bonds, in a private letter aimed at sparing staff bonuses that were tied to the debt. Investors representing at least $4.5bn of wiped-out Credit Suisse AT1 bonds filed a lawsuit against Finma last month, seeking to overturn the Swiss regulator’s cancellation of their holdings that was imposed as part of the bank’s shotgun marriage to UBS two months ago. The aggrieved bondholders earlier this month forced Finma to hand over a decree it had issued to Credit Suisse on March 19 — the day the UBS merger was struck — ordering the bank to write down the AT1 bonds.
Business WireFinancial Advisors Paul Cuneo & Timothy Denihan join UBS in the Garden City, NY
GARDEN CITY, N.Y., May 18, 2023--UBS Wealth Management USA today announced that Paul L. Cuneo has joined the firm as a Managing Director and Financial Advisor in Garden City, New York. Paul joins with his team, Cuneo, Denihan & Associates which also includes Financial Advisor Tim Denihan and Client Service Associates Melissa Poyer and Patrick Lively.
ReutersExclusive-Qatar fund explored claims against Switzerland for Credit Suisse losses
Qatar's sovereign wealth fund, Credit Suisse's second-largest investor, has explored seeking redress for losses incurred by the bank's takeover, two people familiar with the matter said, as legal challenges to Switzerland's state-backed rescue mount. The Qatar Investment Authority (QIA) sought legal advice on whether it had any claim against Swiss authorities, including through international arbitration, after Credit Suisse Group AG's forced sale to UBS Group AG at a fraction of its market value, the two sources said.
- Zacks
UBS Group (UBS) Notes Likely Losses, Gains From Credit Suisse Deal
Fair value adjustments of the combined group's financial assets and liabilities, litigation provisions, and other factors are expected to hit UBS Group (UBS) shareholders' equity by $28.3 billion.
The GuardianUBS to make $35bn in Credit Suisse takeover – but lose $17bn in rushed deal
UBS says it will absorb costs related to litigation, regulatory matters and liability adjustments in emergency rescue
- Investing.com
Target, TJX and EVgo fall premarket; Western Alliance and Tesla rise
Investing.com -- Stocks in focus in premarket trade on Wednesday, May 17th. Please refresh for updates.
- Investing.com
UBS flags $17 billion estimated cost from Credit Suisse merger
Investing.com -- UBS Group AG (SIX:UBSG) has said it could stand to lose around $17 billion from its planned merger with smaller rival Credit Suisse (SIX:CSGN), but noted that the tie-up will provide other benefits.
- Business Wire
UBS filed an amended Form F-4 registration statement with the SEC, including pro forma financial information
ZURICH, Switzerland, May 17, 2023-- Ad hoc announcement pursuant to Article 53 of the SIX Exchange Regulation Listing Rules
ReutersUBS says it was rushed into unwanted Credit Suisse rescue merger
UBS Group AG was rushed into buying cross-town rival Credit Suisse Group AG in a deal it did not want, as a global bank crisis worsened the latter's finances and prompted authorities to take swift action, a regulatory filing showed. UBS, in a Tuesday filing to the U.S. Securities and Exchange Commission, told investors it had less than four days to conduct due diligence given the "emergency circumstances". Credit Suisse's involvement in a series of corporate collapses spooked clients who began withdrawing their money, a trend that accelerated when U.S. bank failures sparked fear of a broader banking crisis.
