Citizens Financial Group, Inc. (CFG) Receives “Hold” Rating from Oppenheimer Holdings, Inc.
Citizens Financial Group, Inc. (NYSE:CFG)‘s stock had its “hold” rating reaffirmed by equities research analysts at Oppenheimer Holdings, Inc. in a report released on Monday.
Several other brokerages have also weighed in on CFG. Barclays PLC lifted their price target on Citizens Financial Group from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday. Bank of America Corporation restated an “underperform” rating and issued a $40.00 price target (down previously from $41.00) on shares of Citizens Financial Group in a research note on Monday, October 2nd. Citigroup Inc. restated a “neutral” rating and issued a $42.00 price target (up previously from $38.00) on shares of Citizens Financial Group in a research note on Monday, October 9th. BidaskClub upgraded Citizens Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Finally, Deutsche Bank AG restated a “hold” rating on shares of Citizens Financial Group in a research note on Wednesday, July 5th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $38.00.
Citizens Financial Group (CFG) traded up 0.44% during trading on Monday, hitting $38.50. The stock had a trading volume of 8,428,438 shares. The firm’s 50-day moving average price is $36.01 and its 200-day moving average price is $35.44. The company has a market cap of $19.28 billion, a price-to-earnings ratio of 16.44 and a beta of 1.37. Citizens Financial Group has a 52-week low of $25.50 and a 52-week high of $39.75.
Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Friday, October 20th. The bank reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.04. Citizens Financial Group had a return on equity of 6.08% and a net margin of 19.86%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the business earned $0.52 EPS. Citizens Financial Group’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts predict that Citizens Financial Group will post $2.64 EPS for the current fiscal year.
Citizens Financial Group declared that its Board of Directors has authorized a stock buyback program on Wednesday, June 28th that authorizes the company to buyback $850.00 million in outstanding shares. This buyback authorization authorizes the bank to purchase up to 4.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
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Several institutional investors have recently modified their holdings of CFG. BlackRock Inc. boosted its holdings in shares of Citizens Financial Group by 1,533.4% during the 1st quarter. BlackRock Inc. now owns 42,692,103 shares of the bank’s stock worth $1,475,015,000 after purchasing an additional 40,078,389 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Citizens Financial Group by 2,682.0% during the 2nd quarter. Janus Henderson Group PLC now owns 8,138,852 shares of the bank’s stock worth $290,393,000 after purchasing an additional 7,846,303 shares during the last quarter. Janus Capital Management LLC boosted its holdings in shares of Citizens Financial Group by 2,490.8% during the 1st quarter. Janus Capital Management LLC now owns 4,632,828 shares of the bank’s stock worth $160,064,000 after purchasing an additional 4,454,009 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of Citizens Financial Group by 199.3% during the 2nd quarter. Voya Investment Management LLC now owns 5,276,361 shares of the bank’s stock worth $188,261,000 after purchasing an additional 3,513,196 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of Citizens Financial Group by 16,695.7% during the 2nd quarter. Lazard Asset Management LLC now owns 2,779,356 shares of the bank’s stock worth $99,167,000 after purchasing an additional 2,762,808 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.
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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