Citizens Financial Group (NYSE:CFG) Given New $40.50 Price Target at JPMorgan Chase & Co.

Citizens Financial Group (NYSE:CFG) had its price objective decreased by JPMorgan Chase & Co. from $41.50 to $40.50 in a research note released on Tuesday morning, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has an overweight rating on the bank’s stock.

Other analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of H&E Equipment Services from a hold rating to a buy rating and set a $27.00 price objective on the stock in a research note on Monday, March 25th. Wedbush set a $13.00 price objective on shares of SLM and gave the stock a buy rating in a research note on Monday, April 22nd. Argus initiated coverage on shares of Citizens Financial Group in a research note on Wednesday, June 19th. They issued a hold rating on the stock. Finally, ValuEngine upgraded shares of Alleghany from a hold rating to a buy rating in a research note on Friday, April 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $40.21.

NYSE CFG opened at $35.75 on Tuesday. The business has a fifty day moving average of $34.67. The stock has a market capitalization of $16.30 billion, a PE ratio of 10.04, a P/E/G ratio of 1.16 and a beta of 1.44. Citizens Financial Group has a 12-month low of $27.62 and a 12-month high of $41.76. 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 firm had revenue of $1.59 billion for 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 quarter in the prior year, the business earned $0.78 earnings per share. On average, sell-side analysts forecast that Citizens Financial Group will post 3.81 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Clark Capital Management Group Inc. grew its position in shares of Citizens Financial Group by 3.3% in the second quarter. Clark Capital Management Group Inc. now owns 1,659,873 shares of the bank’s stock valued at $58,693,000 after purchasing an additional 53,606 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Citizens Financial Group by 144.8% in the second quarter. Nisa Investment Advisors LLC now owns 33,220 shares of the bank’s stock valued at $1,175,000 after purchasing an additional 19,650 shares during the period. Xact Kapitalforvaltning AB grew its position in shares of Citizens Financial Group by 6.2% in the second quarter. Xact Kapitalforvaltning AB now owns 89,918 shares of the bank’s stock valued at $3,180,000 after purchasing an additional 5,230 shares during the period. Ipswich Investment Management Co. Inc. grew its position in shares of Citizens Financial Group by 11.4% in the second quarter. Ipswich Investment Management Co. Inc. now owns 79,490 shares of the bank’s stock valued at $2,811,000 after purchasing an additional 8,105 shares during the period. Finally, AMF Pensionsforsakring AB grew its position in shares of Citizens Financial Group by 2.2% in the second quarter. AMF Pensionsforsakring AB now owns 762,983 shares of the bank’s stock valued at $26,979,000 after purchasing an additional 16,710 shares during the period. Institutional investors own 95.49% 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 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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