Wedbush Brokers Raise Earnings Estimates for Citizens Financial Group Inc (CFG)
Citizens Financial Group Inc (NYSE:CFG) – Investment analysts at Wedbush lifted their FY2018 EPS estimates for shares of Citizens Financial Group in a report released on Thursday. Wedbush analyst P. Winter now forecasts that the bank will post earnings per share of $3.32 for the year, up from their previous estimate of $2.89.
CFG has been the topic of a number of other reports. Oppenheimer reaffirmed a “hold” rating on shares of Citizens Financial Group in a report on Monday, October 23rd. Zacks Investment Research raised Citizens Financial Group from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Tuesday, September 12th. Barclays increased their target price on Citizens Financial Group from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, October 23rd. Morgan Stanley increased their target price on Citizens Financial Group from $43.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, December 13th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $42.00 price objective (up previously from $38.00) on shares of Citizens Financial Group in a research note on Monday, October 9th. Three analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $41.46.
Citizens Financial Group (NYSE:CFG) traded up $0.20 on Monday, hitting $43.88. The stock had a trading volume of 7,315,600 shares, compared to its average volume of 6,352,450. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. Citizens Financial Group has a 52-week low of $31.51 and a 52-week high of $44.33. The stock has a market capitalization of $21,588.58, a PE ratio of 17.77, a PEG ratio of 0.99 and a beta of 1.37.
Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data 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 6.44% and a net margin of 20.26%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis.
Hedge funds and other institutional investors have recently modified their holdings of the business. Sun Life Financial INC increased its holdings in shares of Citizens Financial Group by 41,266.7% in the 2nd quarter. Sun Life Financial INC now owns 3,723 shares of the bank’s stock valued at $133,000 after acquiring an additional 3,714 shares during the period. Lipe & Dalton acquired a new position in shares of Citizens Financial Group in the 3rd quarter valued at about $207,000. Colony Group LLC acquired a new position in shares of Citizens Financial Group in the 2nd quarter valued at about $210,000. Courier Capital LLC acquired a new position in shares of Citizens Financial Group in the 2nd quarter valued at about $214,000. Finally, Quotient Investors LLC acquired a new position in shares of Citizens Financial Group in the 3rd quarter valued at about $227,000. 98.48% of the stock is owned by institutional investors and hedge funds.
In other Citizens Financial Group news, Director Wendy A. Watson sold 4,000 shares of Citizens Financial Group stock in a transaction on Friday, December 1st. The stock was sold at an average price of $40.31, for a total transaction of $161,240.00. Following the completion of the sale, the director now directly owns 12,917 shares of the company’s stock, valued at approximately $520,684.27. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.
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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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