Citizens Financial Group (CFG) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Citizens Financial Group (NYSE:CFG) from a hold rating to a buy rating in a report published on Monday. Zacks Investment Research currently has $46.00 price objective on the bank’s stock.
According to Zacks, “Shares of Citizens Financial have outperformed the industry over the last three months. This performance was supported by the company’s impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. The company remains on track to implement TOP III efficiency initiatives, which are expected to boost earnings further. It also launched TOP IV initiatives which are anticipated to achieve pre-tax benefit of $95-$110 million by the end of 2018. Further, it continues to benefit from improving loans and deposit balances, and is well positioned to grow as the U.S. economy is gaining traction. Though, significant exposure to commercial loans remains a concern, Citizens Financial’s involvement in steady capital deployment activities continue to inspire shareholders’ confidence.”
Other equities analysts have also recently issued research reports about the stock. BidaskClub cut shares of Citizens Financial Group from a sell rating to a strong sell rating in a research report on Monday, August 14th. Keefe, Bruyette & Woods set a $40.00 target price on shares of Citizens Financial Group and gave the stock a buy rating in a research report on Friday, August 11th. Sanford C. Bernstein raised shares of Citizens Financial Group from a market perform rating to an outperform rating and lifted their target price for the stock from $38.00 to $43.00 in a research report on Thursday, September 14th. TheStreet raised shares of Citizens Financial Group from a c rating to an a+ rating in a research report on Monday, November 27th. Finally, Oppenheimer reissued a hold rating on shares of Citizens Financial Group in a research report on Monday, October 23rd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. Citizens Financial Group presently has a consensus rating of Hold and a consensus price target of $40.23.
Citizens Financial Group (CFG) traded up $1.16 during trading on Monday, hitting $41.85. 6,494,400 shares of the company’s stock traded hands, compared to its average volume of 4,743,100. Citizens Financial Group has a 1 year low of $31.51 and a 1 year high of $42.52. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.97 and a current ratio of 0.98. The company has a market cap of $20,590.00, a PE ratio of 16.47, a P/E/G ratio of 1.04 and a beta of 1.37.
Citizens Financial Group (NYSE:CFG) last posted its earnings results on Friday, October 20th. The bank reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.04. Citizens Financial Group had a net margin of 20.26% and a return on equity of 6.44%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the firm earned $0.52 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. sell-side analysts expect that Citizens Financial Group will post 2.59 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were issued a $0.18 dividend. The ex-dividend date was Tuesday, October 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.72%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 29.15%.
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Citizens Financial Group by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 53,188,129 shares of the bank’s stock worth $1,897,753,000 after purchasing an additional 1,328,293 shares during the period. BlackRock Inc. grew its stake in Citizens Financial Group by 5.8% in the 2nd quarter. BlackRock Inc. now owns 45,150,226 shares of the bank’s stock valued at $1,610,961,000 after buying an additional 2,458,123 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Citizens Financial Group by 3.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 17,408,929 shares of the bank’s stock valued at $621,151,000 after buying an additional 581,232 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in Citizens Financial Group by 14.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,470,644 shares of the bank’s stock valued at $434,393,000 after buying an additional 1,404,300 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in Citizens Financial Group by 1.3% in the 2nd quarter. Artisan Partners Limited Partnership now owns 9,310,713 shares of the bank’s stock valued at $332,206,000 after buying an additional 119,788 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors.
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About Citizens Financial Group
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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