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UBS Group AG - Stock Quote UBSG

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Morningstar's UBS Group AG Stock Analysis

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UBS Reports Good First Quarter on Strong Investment Bank Results; Fair Value Estimate Maintained

Niklas Kammer, CFA Equity Analyst

Analyst Note

| Niklas Kammer, CFA |

Narrow-moat UBS reported profits before tax of $2,729 million, 15% ahead of the $2,356 million consensus estimate collected by the group itself. The good performance is primarily explained by a strong performance in its investment bank, which saw operating income increase 28%. Higher revenue from equity derivatives, rates and foreign exchange all contributed positively and were only slightly offset by weaker capital market financing revenue. Other segments fell short of consensus estimates. Operating expenses came in at $6,634 million, 4% above what the group reported in the year-ago period. In sum, the group reported a strong return on common equity Tier 1 capital of 19.0%, ahead of its recently lifted medium-term guidance between 15% and 18%. We maintain our fair value estimate of CHF 21.50 per share.

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UBS Group AG's Company Profile

Business Description

UBS is the world’s largest wealth manager and is the product of multiple mergers over the years. Apart from wealth and asset management, it operates a universal bank in Switzerland and a global investment bank.

Bahnhofstrasse 45
Zurich, CH-8001, Switzerland
T +41 442341111
Sector Financial Services
Industry Banks - Diversified
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type
Employees 71,697

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