JPMorgan Chase & Co. Trims Citizens Financial Group (NYSE:CFG) Target Price to $39.50

Citizens Financial Group (NYSE:CFG) had its price target reduced by research analysts at JPMorgan Chase & Co. from $42.00 to $39.50 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 14.56% from the company’s current price.

CFG has been the subject of a number of other research reports. Argus raised shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Monday, July 29th. Citigroup downgraded shares of Citizens Financial Group from a “neutral” rating to a “sell” rating and cut their target price for the stock from $39.00 to $32.00 in a research report on Tuesday. Morgan Stanley cut their target price on shares of Citizens Financial Group from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Zacks Investment Research downgraded shares of Citizens Financial Group from a “hold” rating to a “sell” rating and set a $37.00 target price for the company. in a research report on Friday, July 12th. Finally, UBS Group downgraded shares of Citizens Financial Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $40.00 to $38.00 in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $39.96.

Citizens Financial Group stock traded up $0.71 during midday trading on Thursday, reaching $34.48. The stock had a trading volume of 3,754,873 shares, compared to its average volume of 4,539,692. The firm’s fifty day simple moving average is $34.48 and its two-hundred day simple moving average is $34.73. Citizens Financial Group has a twelve month low of $27.62 and a twelve month high of $38.64. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.96 and a quick ratio of 0.95. The firm has a market cap of $15.42 billion, a price-to-earnings ratio of 9.69, a PEG ratio of 1.60 and a beta of 1.47.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.02. Citizens Financial Group had a net margin of 22.61% and a return on equity of 8.94%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the business posted $0.88 EPS. As a group, sell-side analysts predict that Citizens Financial Group will post 3.79 EPS for the current fiscal year.

In other Citizens Financial Group news, Director Charles John Koch purchased 15,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were acquired at an average price of $32.45 per share, for a total transaction of $486,750.00. Following the acquisition, the director now owns 68,781 shares of the company’s stock, valued at $2,231,943.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Citizens Financial Group by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 51,389,678 shares of the bank’s stock valued at $1,817,139,000 after purchasing an additional 492,162 shares in the last quarter. Invesco Ltd. raised its holdings in Citizens Financial Group by 2.1% in the 2nd quarter. Invesco Ltd. now owns 21,632,377 shares of the bank’s stock worth $764,921,000 after acquiring an additional 449,026 shares during the period. LSV Asset Management raised its holdings in Citizens Financial Group by 0.4% in the 2nd quarter. LSV Asset Management now owns 9,282,568 shares of the bank’s stock worth $328,231,000 after acquiring an additional 36,539 shares during the period. Nuveen Asset Management LLC raised its holdings in Citizens Financial Group by 67,645.0% in the 2nd 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 period. Finally, Bank of Montreal Can raised its holdings in Citizens Financial Group by 5.0% in the 2nd quarter. Bank of Montreal Can now owns 7,636,954 shares of the bank’s stock worth $270,041,000 after acquiring an additional 365,353 shares during the period. Institutional investors and hedge funds own 96.57% of the company’s stock.

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.

See Also: The Structure of a Futures Contract

Analyst Recommendations for Citizens Financial Group (NYSE:CFG)

Receive News & Ratings for Citizens Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citizens Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.