Citizens Financial Group (NYSE:CFG) Downgraded to Neutral at Citigroup

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Citizens Financial Group (NYSE:CFG) was downgraded by investment analysts at Citigroup from a “buy” rating to a “neutral” rating in a report released on Friday, Marketbeat Ratings reports. They currently have a $35.00 price target on the bank’s stock, down from their prior price target of $40.00. Citigroup‘s price objective suggests a potential downside of 2.10% from the company’s previous close.

CFG has been the subject of several other reports. Wedbush set a $13.00 price target on shares of SLM and gave the company a “buy” rating in a research report on Monday, April 22nd. Argus initiated coverage on shares of Citizens Financial Group in a research report on Wednesday, June 19th. They set a “hold” rating for the company. UBS Group increased their price target on shares of Willis Towers Watson from $202.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. initiated coverage on shares of Pinduoduo in a research report on Tuesday, July 9th. They set an “underweight” rating and a $20.48 price target for the company. Finally, ValuEngine raised shares of Alleghany from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Citizens Financial Group has an average rating of “Hold” and a consensus price target of $40.21.

NYSE:CFG opened at $35.75 on Friday. Citizens Financial Group has a 1-year low of $27.62 and a 1-year high of $41.76. The business has a 50-day simple moving average of $34.67. The stock has a market capitalization of $16.39 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 1.17 and a beta of 1.44. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.57.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Thursday, April 18th. The bank reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.04. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. Citizens Financial Group had a net margin of 22.96% and a return on equity of 8.88%. During the same period in the prior year, the firm earned $0.78 earnings per share. As a group, sell-side analysts predict that Citizens Financial Group will post 3.8 EPS for the current fiscal year.

Large investors have recently modified their holdings of the stock. Semmax Financial Advisors Inc. acquired a new position in Citizens Financial Group in the 4th quarter worth approximately $26,000. Zions Bancorporation N.A. acquired a new position in Citizens Financial Group in the 1st quarter worth approximately $29,000. Liberty Wealth Management LLC acquired a new position in Citizens Financial Group in the 1st quarter worth approximately $34,000. PRW Wealth Management LLC acquired a new position in Citizens Financial Group in the 4th quarter worth approximately $32,000. Finally, Sageworth Trust Co acquired a new position in Citizens Financial Group in the 1st quarter worth approximately $50,000. Institutional investors 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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