Bank of America Cuts Citizens Financial Group (NYSE:CFG) Price Target to $30.00

Citizens Financial Group (NYSE:CFG) had its target price trimmed by Bank of America from $33.00 to $30.00 in a report issued on Friday morning, BenzingaRatingsTable reports. The firm currently has a buy rating on the bank’s stock.

A number of other research firms have also commented on CFG. UBS Group raised shares of Citizens Financial Group from a neutral rating to a buy rating in a research note on Monday, May 4th. Argus reduced their price objective on shares of Citizens Financial Group from $44.00 to $30.00 and set a buy rating on the stock in a research note on Tuesday, April 21st. Deutsche Bank reduced their price objective on shares of Citizens Financial Group from $44.00 to $27.00 and set a buy rating on the stock in a research note on Thursday, April 2nd. Wedbush increased their target price on shares of Citizens Financial Group from $26.00 to $27.00 and gave the stock an outperform rating in a research note on Monday, April 20th. Finally, Morgan Stanley increased their target price on shares of Citizens Financial Group from $32.00 to $36.00 and gave the stock an overweight rating in a research note on Monday, June 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $32.32.

Shares of NYSE CFG opened at $24.18 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.96 and a current ratio of 0.99. Citizens Financial Group has a 52-week low of $14.12 and a 52-week high of $41.29. The firm has a 50 day moving average price of $24.88 and a two-hundred day moving average price of $28.38. The stock has a market cap of $10.32 billion, a P/E ratio of 8.25, a price-to-earnings-growth ratio of 4.31 and a beta of 1.86.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, April 17th. The bank reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.17). Citizens Financial Group had a net margin of 17.23% and a return on equity of 6.89%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the company posted $0.92 earnings per share. Analysts predict that Citizens Financial Group will post 1.37 earnings per share for the current fiscal year.

In other Citizens Financial Group news, Director Charles John Koch acquired 5,000 shares of the stock in a transaction on Wednesday, April 22nd. The shares were purchased at an average price of $19.76 per share, for a total transaction of $98,800.00. Following the completion of the acquisition, the director now owns 88,924 shares in the company, valued at approximately $1,757,138.24. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William P. Hankowsky acquired 10,000 shares of the stock in a transaction on Monday, April 20th. The shares were acquired at an average price of $20.56 per share, for a total transaction of $205,600.00. Following the acquisition, the director now owns 44,924 shares of the company’s stock, valued at approximately $923,637.44. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 15,165 shares of company stock worth $307,906. Corporate insiders own 0.44% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Procyon Private Wealth Partners LLC purchased a new stake in shares of Citizens Financial Group in the fourth quarter valued at about $25,000. Delta Asset Management LLC TN raised its holdings in shares of Citizens Financial Group by 251.3% in the first quarter. Delta Asset Management LLC TN now owns 1,398 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,000 shares during the last quarter. Hillsdale Investment Management Inc. raised its holdings in shares of Citizens Financial Group by 146.7% in the first quarter. Hillsdale Investment Management Inc. now owns 1,480 shares of the bank’s stock valued at $28,000 after purchasing an additional 880 shares during the last quarter. Cornerstone Advisors Inc. raised its holdings in shares of Citizens Financial Group by 34.3% in the first quarter. Cornerstone Advisors Inc. now owns 2,562 shares of the bank’s stock valued at $48,000 after purchasing an additional 655 shares during the last quarter. Finally, Anderson Fisher LLC purchased a new stake in shares of Citizens Financial Group in the first quarter valued at about $76,000. Institutional investors own 93.65% of the company’s stock.

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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Analyst Recommendations for Citizens Financial Group (NYSE:CFG)

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