Royal Bank of Scotland Group (LON:RBS) Stock Crosses Above Fifty Day Moving Average of $219.45

Shares of Royal Bank of Scotland Group plc (LON:RBS) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $219.45 and traded as high as $221.70. Royal Bank of Scotland Group shares last traded at $218.30, with a volume of 10,930,722 shares changing hands.

A number of equities research analysts have issued reports on the stock. Goldman Sachs Group cut their price target on shares of Royal Bank of Scotland Group from GBX 395 ($5.16) to GBX 370 ($4.83) and set a “buy” rating on the stock in a report on Thursday, May 23rd. Royal Bank of Canada cut their price target on shares of Royal Bank of Scotland Group from GBX 260 ($3.40) to GBX 230 ($3.01) and set a “sector performer” rating on the stock in a report on Thursday, June 20th. Numis Securities raised shares of Royal Bank of Scotland Group from an “add” rating to a “buy” rating and cut their price target for the stock from GBX 400 ($5.23) to GBX 320 ($4.18) in a report on Wednesday, May 1st. Credit Suisse Group raised their price target on shares of Royal Bank of Scotland Group from GBX 280 ($3.66) to GBX 285 ($3.72) and gave the stock a “neutral” rating in a report on Monday, March 4th. Finally, JPMorgan Chase & Co. cut their price target on shares of Royal Bank of Scotland Group from GBX 290 ($3.79) to GBX 260 ($3.40) and set a “neutral” rating on the stock in a report on Thursday, May 9th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of GBX 297.85 ($3.89).

The stock has a market capitalization of $26.52 billion and a price-to-earnings ratio of 17.58. The business has a fifty day simple moving average of GBX 218.86.

In other news, insider Ross McEwan sold 98,434 shares of Royal Bank of Scotland Group stock in a transaction dated Friday, May 10th. The shares were sold at an average price of GBX 235 ($3.07), for a total transaction of £231,319.90 ($302,260.42).

About Royal Bank of Scotland Group (LON:RBS)

The Royal Bank of Scotland Group plc, together with its subsidiaries, provides banking and financial products and services to personal, commercial, corporate, and institutional customers worldwide. It operates through Personal & Business Banking, Commercial & Private Banking, RBS International, and NatWest Markets segments.

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