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RBS

RBS

$7.54

-0.05 (-0.66%)

06:26
12/01/17
12/01
06:26
12/01/17
06:26

RBS to cut 680 jobs as it closes 259 branches

Following a review of the RBS branch network a decision has been taken to close 62 Royal Bank of Scotland branches, and 197 NatWest branches. As a result of this process, there will be around 680 redundancies, and it will seek to manage this process on a voluntary basis. An RBS spokesperson said: "More and more of our customers are choosing to do their everyday banking online or on mobile. Since 2014 the number of customers using our branches across the UK has fallen by 40% and mobile transactions have increased by 73% over the same period. Over 5 million customers now use our mobile banking app and one in five only bank with us digitally... We expect these branch closures to result in around 680 redundancies. We realize this is difficult news for our colleagues and we are doing everything we can to support those affected. We will ensure compulsory redundancies are kept to an absolute minimum."

RBS RBS
$7.54

-0.05 (-0.66%)

10/10/17
10/10/17
UPGRADE

Neutral
RBS upgraded to Neutral at Credit Suisse
As previously reported, Credit Suisse analyst Claire Kane upgraded RBS to Neutral from Underperform and raised her price target on the shares to 275p from 255p. The analyst welcomes positive developments on the capital side, notably on IFRS 9, and short-term momentum in the business looks strong.
10/10/17
10/10/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Prudential (PRU) upgraded to Buy from Neutral at FBR Capital. 2. RBS (RBS) was upgraded to Neutral from Sell at Citi and to Neutral from Underperform at Credit Suisse. 3. Palo Alto Networks (PANW) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Keith Weiss saying he sees building traction across the company's portfolio of solutions and he views it as one of the best positioned vendors to execute on an integrated security platform story. 4. Illinois Tool Works (ITW) upgraded to Neutral from Underweight at JPMorgan with analyst Ann Duignan saying organic growth is likely to be better than forecast in the third quarter. 5. McKesson (MCK) upgraded to Outperform from Market Perform at Cowen with analyst Charles Rhyee saying the transition towards differential specialty pricing will drive both earnings growth and multiple expansion. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/29/17
MACQ
11/29/17
DOWNGRADE
MACQ
Neutral
RBS downgraded to Neutral from Outperform at Macquarie
11/29/17
MACQ
11/29/17
NO CHANGE
MACQ
Macquarie upgrades Barclays to Neutral, starts HSBC at Outperform
In a research note on the sector titled "Upside Delayed," Macquarie analyst Robert Sage argues that banking activities in the United Kingdom are facing macro challenges. After restructurings, cost cuts and re-sizing capital bases, the European banking sector "now faces economic headwinds from Brexit," Sage writes after taking over coverage of the space. The analyst upgraded Barclays (BCS) to Neutral from Underperform with a price target of 182p. He believes the shares are trading on low valuation multiples. Sage initiated coverage of HSBC (HSBC) with an Outperform rating and price target of 846p. The analyst says the bank combines an "attractive mixture" of growth, income and improving profitability. Sage downgraded Lloyds Banking (LYG) to Underperform from Neutral with a reduced price target of 57p. The shares trade at relatively high multiples, Sage writes. The analyst also downgraded RBS (RBS) to Neutral from Outperform with a price target of 269p and initiated Standard Chartered (SCBFF) with a Neutral rating and 726p price target.

TODAY'S FREE FLY STORIES

PFE

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HUSKF

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PRAH

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DIS

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MESO

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MDXG

MiMedx

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AMZN

Amazon.com

$1,174.26

10.13 (0.87%)

, GOOG

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$1,049.15

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GOOG

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GOOGL

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AAPL

Apple

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WM

Waste Management

$84.66

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Waste Management raises quarterly dividend 9.4%, authorizes $1.25B buyback »

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IQV

Iqvia

$101.47

-0.75 (-0.73%)

17:58
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SRE

Sempra Energy

$115.78

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ORCL

Oracle

$50.19

0.14 (0.28%)

17:40
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ORCL

Oracle

$50.19

0.14 (0.28%)

, AMZN

Amazon.com

$1,174.26

10.13 (0.87%)

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Hot Stocks
Breaking Hot Stocks news story on Oracle, Amazon.com »

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ORCL

Oracle

$50.19

0.14 (0.28%)

AMZN

Amazon.com

$1,174.26

10.13 (0.87%)

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  • 14

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EPD

Enterprise Products

$26.07

0.17 (0.66%)

17:33
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ADBE

Adobe

$175.00

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JBL

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DDR

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RMBL

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SAH

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FORM

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ORCL

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GBT

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AEP

American Electric

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SAGE

Sage Therapeutics

$158.03

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17:25
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Conference/Events
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  • 14

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ORCL

Oracle

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  • 14

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ADBE

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  • 14

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ADBE

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  • 14

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ORCL

Oracle

$50.19

0.14 (0.28%)

17:20
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  • 14

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ORCL

Oracle

$50.19

0.14 (0.28%)

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UBA

Urstadt Biddle

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ORCL

Oracle

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0.14 (0.28%)

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  • 14

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NQ

NQ Mobile

$4.13

0.02 (0.49%)

17:14
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