Citizens Financial Group (NYSE:CFG) Price Target Cut to $36.00

Citizens Financial Group (NYSE:CFG) had its target price reduced by JPMorgan Chase & Co. from $36.50 to $36.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 2.89% from the company’s current price.

A number of other equities analysts have also recently weighed in on CFG. Jefferies Financial Group boosted their price target on Citizens Financial Group from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Wedbush cut their price target on Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, April 18th. StockNews.com cut Citizens Financial Group from a “hold” rating to a “sell” rating in a report on Saturday, April 27th. Morgan Stanley boosted their price target on Citizens Financial Group from $31.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Finally, Royal Bank of Canada boosted their price target on Citizens Financial Group from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $37.73.

Citizens Financial Group Trading Up 0.8 %

Shares of CFG stock opened at $34.99 on Wednesday. The business’s 50 day moving average is $33.95 and its two-hundred day moving average is $31.18. Citizens Financial Group has a twelve month low of $22.77 and a twelve month high of $36.38. The company has a market capitalization of $16.04 billion, a P/E ratio of 12.68 and a beta of 1.36. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.63.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the firm earned $1.00 earnings per share. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. Equities analysts forecast that Citizens Financial Group will post 3.24 EPS for the current year.

Insiders Place Their Bets

In other Citizens Financial Group news, insider Craig Jack Read sold 6,327 shares of the stock in a transaction on Friday, April 19th. The shares were sold at an average price of $33.70, for a total transaction of $213,219.90. Following the transaction, the insider now directly owns 37,558 shares of the company’s stock, valued at $1,265,704.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Citizens Financial Group

Institutional investors have recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its position in Citizens Financial Group by 100.8% during the third quarter. Lindbrook Capital LLC now owns 988 shares of the bank’s stock worth $26,000 after buying an additional 496 shares in the last quarter. Larson Financial Group LLC bought a new position in Citizens Financial Group during the fourth quarter worth about $33,000. Quarry LP lifted its stake in Citizens Financial Group by 183.1% during the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after purchasing an additional 714 shares during the period. CVA Family Office LLC bought a new position in Citizens Financial Group during the fourth quarter worth about $40,000. Finally, Blue Trust Inc. lifted its stake in Citizens Financial Group by 77.6% during the fourth quarter. Blue Trust Inc. now owns 1,314 shares of the bank’s stock worth $44,000 after purchasing an additional 574 shares during the period. 94.90% of the stock is owned by institutional investors and hedge funds.

About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.