RBS rejoices as it returns to profit

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Credit Suisse Group reissued an "underperform" rating and issued a GBX 255 ($3.36) price objective on shares of Royal Bank of Scotland Group plc in a report on Thursday, July 13th.

The bank made a net profit of GBP939 million, compared with a GBP2.05 billion loss in the first half of 2016, when it paid the British government over GBP1 billion to regain the right to pay dividends. Finally, Toronto Dominion Bank bought a new stake in Royal Bank Scotland PLC (The) during the first quarter worth about $170,000. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company's stock. The company has an average rating of "Hold" and an average target price of GBX 244.74 ($3.23). The firm has a 50-day moving average price of $6.56 and a 200-day moving average price of $6.28. The stock was purchased at an average cost of GBX 266 ($3.51) per share, with a total value of £499,212.84 ($658,505.26).

Shares of Royal Bank Scotland PLC (NYSE:RBS) remained flat at $6.73 on Friday.

Royal Bank of Scotland Group plc was upgraded to "hold" by analysts at Investec. Royal Bank Scotland PLC has a 52-week low of $4.18 and a 52-week high of $7.06.

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"We see the first six months of this year as proof of the investment case for this bank: our path to sustainable profitability is becoming clearer and closer and we have resolved some of the most significant issues this bank faced", CEO Ross McEwan said in a statement. If you are reading this story on another site, it was copied illegally and republished in violation of US & worldwide copyright & trademark laws.

Earnings after taxation hit £680 million ($900 million, 756 million euros) in the three months to the end of June, the lender said in a results statement. Dimensional Fund Advisors LP now owns 3,332,105 shares of the financial services provider's stock valued at $20,226,000 after buying an additional 307,009 shares in the last quarter. The Company's segments include Personal & Business Banking (PBB), Commercial & Private Banking (CPB), NatWest Markets (NWM), Capital Resolution, Williams & Glyn (W&G), and Central items & other. Keefe, Bruyette & Woods upgraded Royal Bank Scotland PLC (The) from a "market perform" rating to an "outperform" rating in a research note on Friday, April 21st.

However, RBS also disclosed that the City watchdog is undertaking an investigation into the bank in relation to money laundering, without giving further details.

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