Citizens Financial Group (CFG) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Citizens Financial Group (NYSE:CFG) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

According to Zacks, “Shares of Citizens Financial have outperformed the industry over the last six months. This performance was supported by the company’s impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. The company launched TOP IV initiatives which are anticipated to achieve pre-tax benefit of $95-$110 million by the end of 2018 and boost earnings. Its strong capital position keeps the company poised to undertake opportunistic growth strategies. Further, it continues to benefit from improving loans and deposit balances, and is well positioned to grow as the U.S. economy is gaining traction. Though, significant exposure to commercial loans remains a concern, Citizens Financial’s involvement in steady capital deployment activities continues to inspire. Notably, the company has increased the prime lending rate to 4.75%, following the recent Fed interest rate hike.”

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Other equities analysts also recently issued reports about the stock. TheStreet raised shares of Citizens Financial Group from a c rating to an a+ rating in a research note on Monday, November 27th. BMO Capital Markets upgraded shares of Citizens Financial Group from a market perform rating to an outperform rating and lowered their price target for the stock from $40.00 to $39.00 in a research report on Tuesday, December 19th. Morgan Stanley lifted their price target on shares of Citizens Financial Group from $43.00 to $49.00 and gave the stock an overweight rating in a research report on Wednesday, December 13th. Sanford C. Bernstein set a $52.00 price target on shares of Citizens Financial Group and gave the stock a buy rating in a research report on Monday, January 22nd. Finally, ValuEngine upgraded shares of Citizens Financial Group from a hold rating to a buy rating in a research report on Wednesday, March 7th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Citizens Financial Group currently has a consensus rating of Hold and a consensus target price of $42.36.

Citizens Financial Group (NYSE:CFG) opened at $41.27 on Friday. Citizens Financial Group has a 12 month low of $31.51 and a 12 month high of $48.23. The firm has a market cap of $20,111.90, a PE ratio of 12.62, a price-to-earnings-growth ratio of 0.68 and a beta of 1.40. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.96 and a quick ratio of 0.96.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Friday, January 19th. The bank reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.04. Citizens Financial Group had a net margin of 25.60% and a return on equity of 6.73%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. sell-side analysts anticipate that Citizens Financial Group will post 3.36 EPS for the current year.

Several large investors have recently modified their holdings of CFG. Xact Kapitalforvaltning AB grew its holdings in Citizens Financial Group by 5.8% during the fourth quarter. Xact Kapitalforvaltning AB now owns 91,822 shares of the bank’s stock valued at $3,855,000 after purchasing an additional 5,068 shares during the period. Envestnet Asset Management Inc. grew its holdings in Citizens Financial Group by 2.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 72,658 shares of the bank’s stock valued at $3,048,000 after purchasing an additional 1,793 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in Citizens Financial Group by 40.6% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 34,287 shares of the bank’s stock valued at $1,439,000 after purchasing an additional 9,900 shares during the period. HighPoint Advisor Group LLC acquired a new position in Citizens Financial Group during the fourth quarter valued at approximately $399,000. Finally, Sterling Capital Management LLC acquired a new position in Citizens Financial Group during the fourth quarter valued at approximately $1,087,000. Institutional investors own 97.11% of the company’s stock.

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About Citizens Financial Group

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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Analyst Recommendations for Citizens Financial Group (NYSE:CFG)

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