Citizens Financial Group (NYSE:CFG) Downgraded by Citigroup

Citizens Financial Group (NYSE:CFG) was downgraded by investment analysts at Citigroup from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, The Fly reports.

A number of other equities research analysts also recently issued reports on CFG. ValuEngine raised Alleghany from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Argus began coverage on Citizens Financial Group in a research report on Wednesday, June 19th. They set a “hold” rating for the company. Wedbush set a $13.00 price target on SLM and gave the company a “buy” rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. began coverage on Pinduoduo in a research report on Tuesday. They set an “underweight” rating and a $20.48 price target for the company. Finally, UBS Group boosted their price target on Willis Towers Watson from $202.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. Citizens Financial Group currently has an average rating of “Hold” and a consensus price target of $40.63.

Shares of NYSE:CFG opened at $35.56 on Friday. The stock has a market capitalization of $16.04 billion, a P/E ratio of 9.99, a P/E/G ratio of 1.14 and a beta of 1.44. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.95 and a current ratio of 0.96. Citizens Financial Group has a 52 week low of $27.62 and a 52 week high of $41.76. The firm has a fifty day simple moving average of $34.64.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Thursday, April 18th. The bank reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.04. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Citizens Financial Group had a return on equity of 8.88% and a net margin of 22.96%. During the same quarter in the previous year, the business earned $0.78 earnings per share. Research analysts forecast that Citizens Financial Group will post 3.83 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of CFG. Huntington National Bank lifted its stake in shares of Citizens Financial Group by 19.1% in the first quarter. Huntington National Bank now owns 2,149 shares of the bank’s stock worth $70,000 after acquiring an additional 345 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Citizens Financial Group by 1.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 21,187 shares of the bank’s stock worth $630,000 after acquiring an additional 373 shares in the last quarter. Nomura Holdings Inc. lifted its stake in shares of Citizens Financial Group by 1.4% in the fourth quarter. Nomura Holdings Inc. now owns 31,165 shares of the bank’s stock worth $925,000 after acquiring an additional 433 shares in the last quarter. Global Financial Private Capital LLC lifted its stake in shares of Citizens Financial Group by 0.6% in the first quarter. Global Financial Private Capital LLC now owns 72,595 shares of the bank’s stock worth $2,359,000 after acquiring an additional 446 shares in the last quarter. Finally, Advisor Partners LLC lifted its stake in shares of Citizens Financial Group by 4.6% in the first quarter. Advisor Partners LLC now owns 11,302 shares of the bank’s stock worth $367,000 after acquiring an additional 492 shares in the last quarter. 95.49% of the stock is owned by institutional investors.

About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

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