Citizens Financial Group (NYSE:CFG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “Shares of Citizens Financial have underperformed the industry over the past six months. Yet, the company has an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. Citizens Financial launched a fresh TOP V Program, which targets pre-tax benefit of $90-$100 million by 2019-end. Also, it remains on track with its TOP IV initiatives, anticipated to achieve pre-tax benefit of $100-$110 million by the end of 2018 and boost earnings. Strong capital position keeps it poised to undertake opportunistic growth strategies. However, significant exposure to commercial loans remains concern. Also, exposure to pending legal cases might keep costs elevated in near term.”

A number of other equities analysts have also commented on the stock. Morgan Stanley lowered their price target on shares of Citizens Financial Group from $53.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 18th. ValuEngine lowered shares of Citizens Financial Group from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $46.89.

NYSE:CFG opened at $38.16 on Tuesday. Citizens Financial Group has a 52 week low of $36.25 and a 52 week high of $48.23. The stock has a market cap of $18.36 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 0.51 and a beta of 1.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.98 and a current ratio of 0.98.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, July 20th. The bank reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. Citizens Financial Group had a net margin of 26.72% and a return on equity of 7.59%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the firm earned $0.63 earnings per share. Citizens Financial Group’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that Citizens Financial Group will post 3.49 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. DNB Asset Management AS increased its holdings in Citizens Financial Group by 12.2% in the 3rd quarter. DNB Asset Management AS now owns 196,494 shares of the bank’s stock valued at $7,579,000 after buying an additional 21,317 shares during the period. Midas Management Corp bought a new position in Citizens Financial Group in the 3rd quarter valued at about $964,000. State of Alaska Department of Revenue increased its holdings in Citizens Financial Group by 1.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 119,262 shares of the bank’s stock valued at $4,598,000 after buying an additional 1,993 shares during the period. Atria Investments LLC increased its holdings in Citizens Financial Group by 89.8% in the 3rd quarter. Atria Investments LLC now owns 10,386 shares of the bank’s stock valued at $417,000 after buying an additional 4,913 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. increased its holdings in Citizens Financial Group by 20.2% in the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 42,902 shares of the bank’s stock valued at $1,655,000 after buying an additional 7,198 shares during the period. 96.79% of the stock is currently owned by hedge funds and other institutional investors.

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 provide 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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