First Niagara Financial Group Given Average Rating of “Hold” by Analysts (NASDAQ:FNFG)
First Niagara Financial Group (NASDAQ:FNFG) has been given an average recommendation of “Hold” by the eleven brokerages that are currently covering the stock, American Banking News reports. Four analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $9.61.
FNFG has been the subject of a number of recent research reports. Analysts at Barclays cut their price target on shares of First Niagara Financial Group from $9.00 to $8.00 in a research note on Monday, July 28th. They now have an “underweight” rating on the stock. Separately, 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. Finally, 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.
First Niagara Financial Group (NASDAQ:FNFG) opened at 8.48 on Friday. First Niagara Financial Group has a 1-year low of $8.19 and a 1-year high of $11.34. The stock has a 50-day moving average of $8.64 and a 200-day moving average of $8.84. The company has a market cap of $2.968 billion and a P/E ratio of 11.60.
First Niagara Financial Group (NASDAQ:FNFG) last issued its quarterly earnings data on Friday, July 25th. The company reported $0.19 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.18 earnings per share. On average, analysts predict that First Niagara Financial Group will post $0.70 earnings per share 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 3.77%. 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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