Zacks Investment Research upgraded shares of Citizens Financial Group (NYSE:CFG) from a sell rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “Shares of Citizens Financial have underperformed the industry over the past six months. Yet, the company has an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. Citizens Financial launched a fresh TOP V Program, which targets pre-tax benefit of $90-$100 million by 2019-end. Also, it remains on track with its TOP IV initiatives, anticipated to achieve pre-tax benefit of $100-$110 million by the end of 2018 and boost earnings. Strong capital position keeps it poised to undertake opportunistic growth strategies. However, significant exposure to commercial loans remains concern. Also, exposure to pending legal cases might keep costs elevated in near term.”
A number of other brokerages also recently weighed in on CFG. ValuEngine downgraded Citizens Financial Group from a hold rating to a sell rating in a report on Wednesday, July 4th. Morgan Stanley reduced their target price on Citizens Financial Group from $53.00 to $51.00 and set an overweight rating on the stock in a report on Tuesday, September 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $46.89.
Shares of CFG stock opened at $36.11 on Tuesday. The firm has a market capitalization of $18.36 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 0.51 and a beta of 1.38. Citizens Financial Group has a fifty-two week low of $35.25 and a fifty-two week high of $48.23. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.98 and a current ratio of 0.98.
Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, July 20th. The bank reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.02. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.51 billion. Citizens Financial Group had a return on equity of 7.59% and a net margin of 26.72%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 EPS. On average, analysts forecast that Citizens Financial Group will post 3.49 earnings per share for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in CFG. LSV Asset Management lifted its stake in shares of Citizens Financial Group by 51.7% in the 2nd quarter. LSV Asset Management now owns 7,513,125 shares of the bank’s stock valued at $292,260,000 after acquiring an additional 2,561,477 shares during the last quarter. PointState Capital LP lifted its stake in shares of Citizens Financial Group by 103.3% in the 1st quarter. PointState Capital LP now owns 4,145,178 shares of the bank’s stock valued at $174,015,000 after acquiring an additional 2,105,951 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Citizens Financial Group by 51.9% in the 3rd quarter. Bank of Montreal Can now owns 5,312,122 shares of the bank’s stock valued at $204,888,000 after acquiring an additional 1,815,395 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Citizens Financial Group by 30.8% in the 2nd quarter. Janus Henderson Group PLC now owns 4,493,533 shares of the bank’s stock valued at $174,800,000 after acquiring an additional 1,058,650 shares during the last quarter. Finally, Unigestion Holding SA bought a new position in shares of Citizens Financial Group in the 2nd quarter valued at $39,051,000. Institutional investors own 96.79% 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 provide 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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