Citizens Financial Group, Inc. (CFG) Upgraded at Sanford C. Bernstein
Citizens Financial Group, Inc. (NYSE:CFG) was upgraded by equities researchers at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a report issued on Thursday.
Several other equities analysts have also weighed in on CFG. TheStreet upgraded shares of Citizens Financial Group from a “c” rating to a “b-” rating in a report on Monday, August 7th. BidaskClub lowered shares of Citizens Financial Group from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Zacks Investment Research lowered shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. BMO Capital Markets reiterated a “market perform” rating and set a $39.00 price objective (up previously from $38.00) on shares of Citizens Financial Group in a report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods set a $40.00 price objective on shares of Citizens Financial Group and gave the company a “buy” rating in a report on Friday, August 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.06.
Shares of Citizens Financial Group (NYSE:CFG) opened at 34.69 on Thursday. Citizens Financial Group has a 52-week low of $23.81 and a 52-week high of $39.75. The company has a market cap of $17.37 billion, a PE ratio of 14.81 and a beta of 1.32. The company has a 50 day moving average of $34.04 and a 200-day moving average of $35.36.
Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. Citizens Financial Group had a net margin of 19.86% and a return on equity of 6.08%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business earned $0.46 earnings per share. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. Analysts forecast that Citizens Financial Group will post $2.53 EPS for the current fiscal year.
Citizens Financial Group declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 28th that permits the company to buyback $850.00 million in outstanding shares. This buyback authorization permits the bank to reacquire up to 4.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
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A number of large investors have recently modified their holdings of the business. USA Financial Portformulas Corp purchased a new position in Citizens Financial Group during the second quarter valued at approximately $1,042,000. Toronto Dominion Bank lifted its holdings in Citizens Financial Group by 24.0% during the second quarter. Toronto Dominion Bank now owns 173,841 shares of the bank’s stock valued at $6,201,000 after purchasing an additional 33,596 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in Citizens Financial Group by 44.8% during the second quarter. Dynamic Technology Lab Private Ltd now owns 38,124 shares of the bank’s stock valued at $1,360,000 after purchasing an additional 11,791 shares in the last quarter. WINTON GROUP Ltd purchased a new position in Citizens Financial Group during the second quarter valued at approximately $466,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in Citizens Financial Group by 38.3% during the second quarter. Public Employees Retirement System of Ohio now owns 403,928 shares of the bank’s stock valued at $14,412,000 after purchasing an additional 111,880 shares in the last quarter. 96.86% of the stock is currently owned by institutional investors and hedge funds.
Citizens Financial Group Company Profile
Citizens Financial Group, Inc is a retail bank holding company. The Company operates through two segments: Consumer Banking and Commercial Banking. Its Consumer Banking serves retail customers and small businesses. Consumer Banking products and services include deposit products, mortgage and home equity lending, auto financing, student loans, personal unsecured lines and loans, credit cards, business loans, wealth management and investment services.
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