First Niagara Financial Group Upgraded to “Buy” at Guggenheim (FNFG)
First Niagara Financial Group (NASDAQ:FNFG) was upgraded by investment analysts at Guggenheim from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm currently has a $10.50 price target on the stock, up from their previous price target of $9.00. Guggenheim’s price objective would suggest a potential upside of 21.67% from the company’s current price.
Shares of First Niagara Financial Group (NASDAQ:FNFG) remained flat at $8.63 during during mid-day trading trading on Monday. The stock had a trading volume of 3,762,688 shares. First Niagara Financial Group has a one year low of $8.19 and a one year high of $11.34. The stock’s 50-day moving average is $8.89 and its 200-day moving average is $9.6. The company has a market cap of $3.020 billion and a P/E ratio of 11.82.
First Niagara Financial Group (NASDAQ:FNFG) last issued its quarterly earnings data on Friday, April 25th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by $0.02. The company had revenue of $347.47 million for the quarter, compared to the consensus estimate of $363.18 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, analysts predict that First Niagara Financial Group will post $0.70 earnings per share for the current fiscal year.
First Niagara Financial Group, Inc provides a range of retail and commercial banking, as well as other financial services through its wholly owned bank subsidiary, First Niagara Bank, N.
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