Royal Bank of Canada Lowers Citizens Financial Group (NYSE:CFG) Price Target to $29.00

Citizens Financial Group (NYSE:CFG) had its price objective trimmed by Royal Bank of Canada from $35.00 to $29.00 in a research note published on Wednesday morning, The Fly reports.

Several other analysts also recently weighed in on the company. Wedbush boosted their target price on Citizens Financial Group from $26.00 to $27.00 and gave the company an outperform rating in a report on Monday, April 20th. ValuEngine downgraded Citizens Financial Group from a hold rating to a sell rating in a report on Saturday, June 27th. Deutsche Bank reduced their target price on Citizens Financial Group from $44.00 to $27.00 and set a buy rating for the company in a report on Thursday, April 2nd. UBS Group raised Citizens Financial Group from a neutral rating to a buy rating in a report on Monday, May 4th. Finally, Citigroup reduced their price objective on Citizens Financial Group from $34.00 to $24.00 and set a neutral rating for the company in a research note on Wednesday, April 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. Citizens Financial Group has a consensus rating of Buy and a consensus target price of $33.05.

NYSE:CFG opened at $23.76 on Wednesday. The stock has a 50-day simple moving average of $24.43 and a 200-day simple moving average of $28.96. The stock has a market cap of $10.14 billion, a P/E ratio of 7.87, a P/E/G ratio of 3.94 and a beta of 1.86. Citizens Financial Group has a 1 year low of $14.12 and a 1 year high of $41.29. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.96 and a current ratio of 0.99.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Friday, April 17th. The bank reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.17). Citizens Financial Group had a net margin of 17.23% and a return on equity of 6.89%. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. On average, equities research analysts predict that Citizens Financial Group will post 1.05 EPS for the current year.

In other Citizens Financial Group news, Director William P. Hankowsky bought 10,000 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was acquired at an average cost of $20.56 per share, with a total value of $205,600.00. Following the purchase, the director now owns 44,924 shares in the company, valued at approximately $923,637.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles John Koch bought 5,000 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The shares were acquired at an average cost of $19.76 per share, with a total value of $98,800.00. Following the completion of the purchase, the director now owns 88,924 shares in the company, valued at approximately $1,757,138.24. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 15,165 shares of company stock valued at $307,906. Company insiders own 0.44% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Procyon Private Wealth Partners LLC purchased a new position in shares of Citizens Financial Group during the 4th quarter worth approximately $25,000. Lloyd Advisory Services LLC. purchased a new position in shares of Citizens Financial Group during the 4th quarter worth approximately $37,000. Delta Asset Management LLC TN grew its holdings in shares of Citizens Financial Group by 251.3% in the 1st quarter. Delta Asset Management LLC TN now owns 1,398 shares of the bank’s stock worth $26,000 after acquiring an additional 1,000 shares during the period. Hillsdale Investment Management Inc. grew its holdings in shares of Citizens Financial Group by 146.7% in the 1st quarter. Hillsdale Investment Management Inc. now owns 1,480 shares of the bank’s stock worth $28,000 after acquiring an additional 880 shares during the period. Finally, Assetmark Inc. grew its holdings in shares of Citizens Financial Group by 74.2% in the 4th quarter. Assetmark Inc. now owns 2,305 shares of the bank’s stock worth $94,000 after acquiring an additional 982 shares during the period. 93.65% of the stock is owned by institutional investors and hedge funds.

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.

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