Zacks Investment Research cut shares of Citizens Financial Group Inc. (NYSE:CFG) from a buy rating to a hold rating in a research report report published on Thursday morning.

According to Zacks, “Citizens Financial remains on track to implement TOP II and TOP III efficiency initiatives which are expected to boost earnings 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, ease of pressure on margin and net interest income seems elusive if there is no significant rise in interest rate. Additionally, higher costs resulting from pending legal hassles and a stricter regulatory landscape across the finance sector continues to be major concerns for Citizens Financial.”

CFG has been the subject of several other reports. TheStreet raised shares of Citizens Financial Group from a hold rating to a buy rating in a research note on Friday, September 23rd. Citigroup Inc. lowered shares of Citizens Financial Group from an outperform rating to a market perform rating in a report on Tuesday, November 15th. Oppenheimer Holdings Inc. restated a market perform rating on shares of Citizens Financial Group in a report on Tuesday, November 15th. Deutsche Bank AG lowered shares of Citizens Financial Group from a buy rating to a hold rating and set a $27.00 price target on the stock. in a report on Tuesday, November 8th. Finally, Wedbush restated a neutral rating and set a $31.00 price target (up previously from $30.00) on shares of Citizens Financial Group in a report on Thursday, November 17th. They noted that the move was a valuation call. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $29.21.

Citizens Financial Group (NYSE:CFG) opened at 32.40 on Thursday. The company’s 50 day moving average is $27.43 and its 200 day moving average is $23.91. The firm has a market cap of $16.79 billion, a price-to-earnings ratio of 17.61 and a beta of 1.10. Citizens Financial Group has a 12-month low of $18.04 and a 12-month high of $32.63.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Friday, October 21st. The company reported $0.52 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 earned $0.40 earnings per share. The business’s quarterly revenue was up 14.1% on a year-over-year basis. On average, equities analysts anticipate that Citizens Financial Group will post $1.93 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 16th. Stockholders of record on Wednesday, November 2nd were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Monday, October 31st. Citizens Financial Group’s dividend payout ratio is 25.95%.

Several institutional investors have recently made changes to their positions in the stock. Baird Financial Group Inc. boosted its position in shares of Citizens Financial Group by 0.3% in the second quarter. Baird Financial Group Inc. now owns 53,580 shares of the company’s stock worth $1,071,000 after buying an additional 145 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of Citizens Financial Group by 1.7% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 13,559 shares of the company’s stock worth $335,000 after buying an additional 225 shares in the last quarter. Pinnacle Holdings LLC boosted its position in shares of Citizens Financial Group by 1.3% in the second quarter. Pinnacle Holdings LLC now owns 18,705 shares of the company’s stock worth $374,000 after buying an additional 245 shares in the last quarter. World Asset Management Inc boosted its position in shares of Citizens Financial Group by 0.5% in the third quarter. World Asset Management Inc now owns 52,138 shares of the company’s stock worth $1,288,000 after buying an additional 282 shares in the last quarter. Finally, University of Notre Dame DU Lac boosted its position in shares of Citizens Financial Group by 0.3% in the third quarter. University of Notre Dame DU Lac now owns 92,012 shares of the company’s stock worth $2,274,000 after buying an additional 319 shares in the last quarter. Institutional investors own 96.20% of the company’s stock.

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Citizens Financial Group Company Profile

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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