Zacks Investment Research lowered shares of Citizens Financial Group (NYSE:CFG) from a hold rating to a sell rating in a report published on Tuesday.
According to Zacks, “Shares of Citizens Financial have outperformed the industry over the past 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. However, significant exposure to commercial loans remains a concern. Also, exposure to pending legal cases might keep costs elevated in the near term.”
Several other equities research analysts also recently commented on the stock. Barclays upped their target price on shares of Citizens Financial Group from $41.00 to $49.00 and gave the company an equal weight rating in a research note on Tuesday, January 2nd. Royal Bank of Canada reaffirmed a hold rating and issued a $45.00 target price on shares of Citizens Financial Group in a research note on Sunday, January 21st. BMO Capital Markets raised shares of Citizens Financial Group from a market perform rating to an outperform rating and lowered their target price for the company from $40.00 to $39.00 in a research note on Tuesday, December 19th. Morgan Stanley upped their target price on shares of Citizens Financial Group from $43.00 to $49.00 and gave the company an overweight rating in a research note on Wednesday, December 13th. Finally, ValuEngine raised shares of Citizens Financial Group from a hold rating to a buy rating in a research note on Wednesday, March 7th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $42.21.
Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, January 19th. The bank reported $0.71 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The business’s quarterly revenue was up 8.9% on a year-over-year basis. equities research analysts anticipate that Citizens Financial Group will post 3.37 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Cerebellum GP LLC bought a new stake in shares of Citizens Financial Group during the fourth quarter worth $131,000. Valeo Financial Advisors LLC increased its position in shares of Citizens Financial Group by 128.4% during the fourth quarter. Valeo Financial Advisors LLC now owns 3,148 shares of the bank’s stock worth $132,000 after acquiring an additional 1,770 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Citizens Financial Group by 315.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,397 shares of the bank’s stock worth $142,000 after acquiring an additional 2,580 shares in the last quarter. HPM Partners LLC bought a new stake in shares of Citizens Financial Group during the fourth quarter worth $201,000. Finally, James Hambro & Partners bought a new stake in shares of Citizens Financial Group during the fourth quarter worth $207,000. 97.11% of the stock is owned by institutional investors.
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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