Citigroup Inc. reissued their neutral rating on shares of Citizens Financial Group, Inc. (NYSE:CFG) in a research report report published on Monday. The firm currently has a $42.00 target price on the bank’s stock, up from their previous target price of $38.00.
A number of other equities research analysts have also recently issued reports on CFG. TheStreet upgraded Citizens Financial Group from a c rating to a b- rating in a report on Monday, August 7th. BidaskClub cut Citizens Financial Group from a sell rating to a strong sell rating in a report on Monday, August 14th. Zacks Investment Research cut Citizens Financial Group from a buy rating to a hold rating in a report on Thursday, July 27th. Bank of America Corporation reiterated an underperform rating and issued a $40.00 price target (down from $41.00) on shares of Citizens Financial Group in a research note on Monday, October 2nd. Finally, BMO Capital Markets reiterated a market perform rating and issued a $39.00 price target (up from $38.00) on shares of Citizens Financial Group in a research note on Tuesday, July 25th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. Citizens Financial Group has a consensus rating of Hold and a consensus price target of $37.12.
Shares of Citizens Financial Group (CFG) opened at 37.16 on Monday. Citizens Financial Group has a 52 week low of $24.43 and a 52 week high of $39.75. The company has a market cap of $18.60 billion, a P/E ratio of 15.87 and a beta of 1.37. The company’s 50-day moving average price is $35.37 and its 200 day moving average price is $35.33.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Friday, July 21st. The bank reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Citizens Financial Group had a return on equity of 6.08% and a net margin of 19.86%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the company posted $0.46 earnings per share. Citizens Financial Group’s quarterly revenue was up 9.2% on a year-over-year basis. On average, equities analysts forecast that Citizens Financial Group will post $2.54 EPS for the current fiscal year.
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Citizens Financial Group announced that its board has approved a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $850.00 million in shares. This repurchase authorization permits the bank to reacquire up to 4.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
A number of large investors have recently bought and sold shares of the business. Alps Advisors Inc. increased its stake in shares of Citizens Financial Group by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 12,875 shares of the bank’s stock worth $459,000 after purchasing an additional 33 shares during the last quarter. Smithfield Trust Co. boosted its holdings in Citizens Financial Group by 1.4% in the 2nd quarter. Smithfield Trust Co. now owns 4,994 shares of the bank’s stock worth $178,000 after buying an additional 70 shares during the period. First Allied Advisory Services Inc. boosted its holdings in Citizens Financial Group by 1.1% in the 2nd quarter. First Allied Advisory Services Inc. now owns 7,101 shares of the bank’s stock worth $250,000 after buying an additional 76 shares during the period. Veritable L.P. boosted its holdings in Citizens Financial Group by 1.2% in the 2nd quarter. Veritable L.P. now owns 6,408 shares of the bank’s stock worth $229,000 after buying an additional 79 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in Citizens Financial Group by 0.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 31,400 shares of the bank’s stock worth $1,120,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 96.76% of the company’s stock.
Citizens Financial Group Company Profile
Citizens Financial Group, Inc is a retail bank holding company. The Company operates through two segments: Consumer Banking and Commercial Banking. Its Consumer Banking serves retail customers and small businesses. Consumer Banking products and services include deposit products, mortgage and home equity lending, auto financing, student loans, personal unsecured lines and loans, credit cards, business loans, wealth management and investment services.
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