Citigroup Downgrades Citizens Financial Group (NYSE:CFG) to Neutral

Citizens Financial Group (NYSE:CFG) was downgraded by research analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued on Friday, Marketbeat reports. They presently have a $35.00 price objective on the bank’s stock, down from their previous price objective of $40.00. Citigroup‘s target price would suggest a potential downside of 2.10% from the stock’s current price.

CFG has been the topic of several other research reports. UBS Group boosted their price target on shares of Willis Towers Watson from $202.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday. ValuEngine upgraded shares of Alleghany from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. JPMorgan Chase & Co. began coverage on shares of Pinduoduo in a research report on Tuesday, July 9th. They issued an “underweight” rating and a $20.48 price target on the stock. Zacks Investment Research upgraded shares of H&E Equipment Services from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Monday, March 25th. Finally, Wedbush set a $13.00 price target on shares of SLM and gave the stock a “buy” rating in a research report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. Citizens Financial Group has a consensus rating of “Hold” and an average target price of $40.21.

Shares of CFG opened at $35.75 on Friday. The stock has a fifty day simple moving average of $34.67. Citizens Financial Group has a fifty-two week low of $27.62 and a fifty-two week high of $41.76. The company has a market capitalization of $16.39 billion, a PE ratio of 9.61, a PEG ratio of 1.17 and a beta of 1.44. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.96 and a quick ratio of 0.95.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Thursday, April 18th. The bank reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.04. Citizens Financial Group had a net margin of 22.96% and a return on equity of 8.88%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the business posted $0.78 earnings per share. Analysts anticipate that Citizens Financial Group will post 3.8 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of CFG. Raymond James Financial Services Advisors Inc. increased its position in Citizens Financial Group by 35.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 28,082 shares of the bank’s stock valued at $835,000 after acquiring an additional 7,425 shares during the last quarter. Advisor Group Inc. increased its position in Citizens Financial Group by 25.7% during the fourth quarter. Advisor Group Inc. now owns 19,939 shares of the bank’s stock valued at $592,000 after acquiring an additional 4,080 shares during the last quarter. Bessemer Group Inc. increased its position in Citizens Financial Group by 45.2% during the fourth quarter. Bessemer Group Inc. now owns 5,284 shares of the bank’s stock valued at $157,000 after acquiring an additional 1,646 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Citizens Financial Group by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,101,998 shares of the bank’s stock valued at $92,223,000 after acquiring an additional 103,295 shares during the last quarter. Finally, Neuburgh Advisers LLC increased its position in Citizens Financial Group by 26.1% during the fourth quarter. Neuburgh Advisers LLC now owns 25,568 shares of the bank’s stock valued at $760,000 after acquiring an additional 5,296 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Citizens Financial Group Company Profile

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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Analyst Recommendations for Citizens Financial Group (NYSE:CFG)

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