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Research analysts at Barclays cut their price objective on shares of First Niagara Financial Group (NASDAQ:FNFG) from $9.00 to $8.00 in a report released on Monday. The firm currently has an “underweight” rating on the stock. Barclays’ target price indicates a potential downside of 9.30% from the stock’s previous close.

FNFG has been the subject of a number of other recent research reports. Analysts at Keefe, Bruyette & Woods cut their price target on shares of First Niagara Financial Group from $10.00 to $9.50 in a research note on Tuesday, June 24th. Analysts at Deutsche Bank reiterated a “buy” rating on shares of First Niagara Financial Group in a research note on Wednesday, May 21st. They now have a $10.50 price target on the stock. Four research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $9.56.

First Niagara Financial Group (NASDAQ:FNFG) traded down 1.70% during mid-day trading on Monday, hitting $8.67. 1,151,657 shares of the company’s stock traded hands. First Niagara Financial Group has a 52-week low of $8.19 and a 52-week high of $11.34. The stock has a 50-day moving average of $8.73 and a 200-day moving average of $8.98. The company has a market cap of $3.036 billion and a price-to-earnings ratio of 11.94.

First Niagara Financial Group (NASDAQ:FNFG) last posted its quarterly earnings results on Friday, July 25th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $352.67 million for the quarter, compared to the consensus estimate of $358.25 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. Analysts expect that First Niagara Financial Group will post $0.70 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Friday, August 15th. Shareholders of record on Tuesday, August 5th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Friday, August 1st.

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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