Zacks Investment Research upgraded shares of Citizens Financial Group Inc. (NYSE:CFG) from a hold rating to a buy rating in a research note issued to investors on Monday. They currently have $36.00 price objective on the stock.

According to Zacks, “Citizens Financial’s third-quarter 2016 earnings surpassed the Zacks Consensus Estimates on higher revenues. However, rising expenses and provisions remained headwinds. The company remains on track to implement TOP II and TOP III efficiency initiatives which are expected to boost performance. Notably, its TOP II efficiency initiatives are expected to result in a pre-tax benefit of $95–$100 million in 2016. Also, the company continues to benefit from improving loans and deposit balances and is well positioned to grow further as the U.S. economy is gaining traction. However, margin pressure amid low interest rate environment, higher costs resulting from pending legal hassles and a stricter regulatory landscape across the finance sector continues to be major concerns for Citizens Financial.”

Other analysts have also issued reports about the stock. Citigroup Inc. upped their price target on shares of Citizens Financial Group from $23.00 to $26.00 in a research report on Thursday, September 8th. Oppenheimer Holdings Inc. set a $25.00 price target on shares of Citizens Financial Group and gave the company a buy rating in a research report on Friday, October 21st. TheStreet upgraded shares of Citizens Financial Group from a hold rating to a buy rating in a research report on Friday, September 23rd. Sandler O’Neill lowered shares of Citizens Financial Group from a buy rating to a hold rating and set a $31.00 price target for the company. in a research report on Monday, November 14th. Finally, Deutsche Bank AG lowered shares of Citizens Financial Group from a buy rating to a hold rating and set a $27.00 price target for the company. in a research report on Tuesday, November 8th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $29.07.

Analyst Recommendations for Citizens Financial Group (NYSE:CFG)

Shares of Citizens Financial Group (NYSE:CFG) opened at 32.19 on Monday. Citizens Financial Group has a 12 month low of $18.04 and a 12 month high of $32.26. The company has a 50-day moving average price of $27.02 and a 200-day moving average price of $23.77. The company has a market capitalization of $16.68 billion, a price-to-earnings ratio of 17.49 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Friday, October 21st. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. Citizens Financial Group had a net margin of 17.53% and a return on equity of 4.88%. The business earned $1.38 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the business posted $0.40 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis. On average, equities analysts anticipate that Citizens Financial Group will post $1.93 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 16th. Shareholders of record on Wednesday, November 2nd were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Monday, October 31st. Citizens Financial Group’s dividend payout ratio (DPR) is presently 25.95%.

A number of large investors have recently bought and sold shares of CFG. Svenska Handelsbanken AB publ acquired a new position in shares of Citizens Financial Group during the second quarter valued at $27,972,000. Chevy Chase Trust Holdings Inc. boosted its position in shares of Citizens Financial Group by 1.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 457,215 shares of the company’s stock valued at $9,136,000 after buying an additional 6,527 shares in the last quarter. Exxonmobil Investment Management Inc. TX boosted its position in shares of Citizens Financial Group by 6.6% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 136,927 shares of the company’s stock valued at $2,736,000 after buying an additional 8,418 shares in the last quarter. DNB Asset Management AS boosted its position in shares of Citizens Financial Group by 1.2% in the second quarter. DNB Asset Management AS now owns 73,577 shares of the company’s stock valued at $1,470,000 after buying an additional 900 shares in the last quarter. Finally, British Columbia Investment Management Corp boosted its position in shares of Citizens Financial Group by 120.6% in the second quarter. British Columbia Investment Management Corp now owns 358,018 shares of the company’s stock valued at $7,153,000 after buying an additional 195,691 shares in the last quarter. 96.20% of the stock is owned by institutional investors and hedge funds.

About Citizens Financial Group

Citizens Financial Group, Inc is a retail bank holding company in the United States. The Company offers a range of retail and commercial banking products and services to individuals, institutions and companies. The Company operates in two segments: Consumer Banking and Commercial Banking. The Company’s Consumer Banking serves retail customers and small businesses.

5 Day Chart for NYSE:CFG

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