Citizens Financial Group Inc (NYSE:CFG) Given Average Rating of “Hold” by Brokerages

Citizens Financial Group Inc (NYSE:CFG) has received an average recommendation of “Hold” from the fifteen brokerages that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $40.13.

Several equities analysts recently weighed in on the company. Citigroup downgraded Citizens Financial Group from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $39.00 to $32.00 in a research note on Tuesday. Zacks Investment Research downgraded Citizens Financial Group from a “hold” rating to a “sell” rating and set a $37.00 price target for the company. in a research report on Friday, July 12th. Argus raised Citizens Financial Group from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Monday, July 29th. JPMorgan Chase & Co. decreased their price objective on Citizens Financial Group from $42.00 to $39.50 and set an “overweight” rating on the stock in a report on Thursday. Finally, UBS Group cut Citizens Financial Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $40.00 to $38.00 in a report on Wednesday, July 10th.

In other Citizens Financial Group news, Director Charles John Koch bought 15,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were acquired at an average cost of $32.45 per share, with a total value of $486,750.00. Following the completion of the transaction, the director now owns 68,781 shares in the company, valued at $2,231,943.45. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.32% of the stock is currently owned by insiders.



Several hedge funds and other institutional investors have recently made changes to their positions in CFG. Nuveen Asset Management LLC increased its position in shares of Citizens Financial Group by 67,645.0% during the second quarter. Nuveen Asset Management LLC now owns 8,455,935 shares of the bank’s stock worth $299,002,000 after acquiring an additional 8,443,453 shares during the last quarter. Eminence Capital LP purchased a new stake in shares of Citizens Financial Group during the second quarter worth about $87,590,000. Nomura Holdings Inc. purchased a new stake in shares of Citizens Financial Group during the second quarter worth about $56,779,000. MARSHALL WACE ASIA Ltd increased its position in shares of Citizens Financial Group by 100.9% during the first quarter. MARSHALL WACE ASIA Ltd now owns 2,496,338 shares of the bank’s stock worth $81,131,000 after acquiring an additional 1,253,939 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Citizens Financial Group by 75.0% during the second quarter. Prudential Financial Inc. now owns 2,796,300 shares of the bank’s stock worth $98,877,000 after acquiring an additional 1,198,821 shares during the last quarter. 96.57% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE CFG traded up $0.95 during trading hours on Friday, reaching $34.72. The stock had a trading volume of 495,844 shares, compared to its average volume of 4,538,639. The firm has a market cap of $14.57 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 1.58 and a beta of 1.47. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Citizens Financial Group has a fifty-two week low of $27.62 and a fifty-two week high of $38.64. The firm has a 50-day moving average of $34.43 and a 200-day moving average of $34.72.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.02. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Citizens Financial Group had a return on equity of 8.94% and a net margin of 22.61%. During the same period last year, the firm earned $0.88 EPS. On average, equities analysts predict that Citizens Financial Group will post 3.8 EPS for the current year.

About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

Further Reading: Dividend Reinvestment Plan (DRIP)

Analyst Recommendations for Citizens Financial Group (NYSE:CFG)

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