Citizens Financial Group (NYSE:CFG) Earns “Neutral” Rating from Citigroup

Citizens Financial Group (NYSE:CFG)‘s stock had its “neutral” rating reiterated by stock analysts at Citigroup in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $33.00 price target on the bank’s stock. Citigroup’s price objective indicates a potential upside of 21.01% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. JPMorgan Chase & Co. cut Citizens Financial Group from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $29.00 to $27.00 in a report on Thursday, June 29th. Wedbush boosted their target price on Citizens Financial Group from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, July 20th. The Goldman Sachs Group raised their price target on Citizens Financial Group from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Finally, Stephens reiterated an “overweight” rating and issued a $36.00 price objective on shares of Citizens Financial Group in a research report on Friday, September 8th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Citizens Financial Group Price Performance

CFG stock traded down $0.13 on Tuesday, reaching $27.27. 258,887 shares of the company’s stock were exchanged, compared to its average volume of 6,833,355. The stock has a fifty day moving average of $29.14 and a 200-day moving average of $28.99. The firm has a market cap of $12.88 billion, a PE ratio of 6.21 and a beta of 1.35. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.65. Citizens Financial Group has a twelve month low of $23.37 and a twelve month high of $44.82.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Wednesday, July 19th. The bank reported $0.92 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.08). The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Citizens Financial Group had a return on equity of 10.68% and a net margin of 20.41%. During the same quarter in the previous year, the firm posted $1.14 earnings per share. As a group, equities analysts predict that Citizens Financial Group will post 3.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. CIBC Asset Management Inc raised its position in shares of Citizens Financial Group by 0.3% in the 4th quarter. CIBC Asset Management Inc now owns 86,831 shares of the bank’s stock worth $3,419,000 after buying an additional 232 shares during the period. Coastal Investment Advisors Inc. grew its holdings in shares of Citizens Financial Group by 21.0% during the 4th quarter. Coastal Investment Advisors Inc. now owns 1,452 shares of the bank’s stock worth $57,000 after purchasing an additional 252 shares during the period. Kinneret Advisory LLC raised its holdings in Citizens Financial Group by 2.3% in the first quarter. Kinneret Advisory LLC now owns 13,296 shares of the bank’s stock valued at $603,000 after buying an additional 298 shares during the period. Heritage Wealth Management LLC lifted its position in Citizens Financial Group by 100.0% during the fourth quarter. Heritage Wealth Management LLC now owns 646 shares of the bank’s stock valued at $25,000 after buying an additional 323 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in Citizens Financial Group by 7.4% during the fourth quarter. Quadrant Capital Group LLC now owns 4,904 shares of the bank’s stock worth $193,000 after buying an additional 337 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.