Citizens Financial Group (NYSE:CFG) Cut to “Neutral” at Citigroup

Citigroup downgraded shares of Citizens Financial Group (NYSE:CFG) from a buy rating to a neutral rating in a research report report published on Friday, BenzingaRatingsTable reports. The brokerage currently has $35.00 price objective on the bank’s stock, down from their previous price objective of $40.00.

A number of other analysts have also weighed in on CFG. Wedbush set a $13.00 target price on shares of SLM and gave the stock a buy rating in a report on Monday, April 22nd. UBS Group upped their target price on shares of Willis Towers Watson from $202.00 to $220.00 and gave the stock a buy rating in a report on Wednesday, July 10th. ValuEngine raised shares of Alleghany from a hold rating to a buy rating in a report on Friday, April 19th. Argus started coverage on shares of Citizens Financial Group in a report on Wednesday, June 19th. They issued a hold rating on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of Pinduoduo in a report on Tuesday, July 9th. They issued an underweight rating and a $20.48 price target on the stock. 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. Citizens Financial Group presently has an average rating of Hold and an average target price of $40.21.

Citizens Financial Group stock opened at $35.75 on Friday. The business’s 50 day moving average price is $34.67. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.57. The company has a market cap of $16.39 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 2.11 and a beta of 1.45. Citizens Financial Group has a 1-year low of $27.62 and a 1-year high of $41.76.

Citizens Financial Group (NYSE:CFG) last posted its earnings results 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 business 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 firm posted $0.78 EPS. As a group, research analysts anticipate that Citizens Financial Group will post 3.8 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in CFG. Huntington National Bank lifted its position in shares of Citizens Financial Group by 19.1% in the 1st quarter. Huntington National Bank now owns 2,149 shares of the bank’s stock worth $70,000 after purchasing an additional 345 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Citizens Financial Group by 1.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 21,187 shares of the bank’s stock worth $630,000 after acquiring an additional 373 shares in the last quarter. Nomura Holdings Inc. increased its stake in shares of Citizens Financial Group by 1.4% in the 4th quarter. Nomura Holdings Inc. now owns 31,165 shares of the bank’s stock worth $925,000 after acquiring an additional 433 shares in the last quarter. Global Financial Private Capital LLC increased its stake in shares of Citizens Financial Group by 0.6% in the 1st quarter. Global Financial Private Capital LLC now owns 72,595 shares of the bank’s stock worth $2,359,000 after acquiring an additional 446 shares in the last quarter. Finally, Advisor Partners LLC increased its stake in shares of Citizens Financial Group by 4.6% in the 1st quarter. Advisor Partners LLC now owns 11,302 shares of the bank’s stock worth $367,000 after acquiring an additional 492 shares in the last quarter. 95.46% of the stock is currently 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 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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