Citizens Financial Group (NYSE:CFG) Given New $35.00 Price Target at Wedbush

Citizens Financial Group (NYSE:CFG) had its price objective reduced by equities research analysts at Wedbush from $38.00 to $35.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. Wedbush’s price target would indicate a potential upside of 6.06% from the company’s previous close.

Several other equities analysts have also recently weighed in on CFG. TheStreet upgraded Citizens Financial Group from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. UBS Group boosted their price target on shares of Citizens Financial Group from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Barclays lowered shares of Citizens Financial Group from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $38.00 to $40.00 in a research note on Tuesday, January 2nd. Jefferies Financial Group boosted their target price on Citizens Financial Group from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Finally, Citigroup upgraded Citizens Financial Group from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $35.88.

Citizens Financial Group Stock Performance

CFG opened at $33.00 on Thursday. Citizens Financial Group has a 1-year low of $22.77 and a 1-year high of $36.38. The company has a market cap of $15.13 billion, a price-to-earnings ratio of 10.61 and a beta of 1.38. The company’s fifty day moving average price is $33.25 and its two-hundred day moving average price is $30.56. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.10). The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.96 billion. Citizens Financial Group had a net margin of 13.19% and a return on equity of 7.40%. Citizens Financial Group’s revenue was down 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.00 EPS. On average, analysts expect that Citizens Financial Group will post 3.23 EPS for the current fiscal year.

Insider Buying and Selling at Citizens Financial Group

In other news, insider Craig Jack Read sold 4,508 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $33.54, for a total value of $151,198.32. Following the sale, the insider now directly owns 43,885 shares of the company’s stock, valued at $1,471,902.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.62% of the company’s stock.

Institutional Trading of Citizens Financial Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Kinneret Advisory LLC increased its holdings in shares of Citizens Financial Group by 2.3% in the first quarter. Kinneret Advisory LLC now owns 13,296 shares of the bank’s stock worth $603,000 after purchasing an additional 298 shares during the period. Czech National Bank raised its holdings in shares of Citizens Financial Group by 0.5% in the 1st quarter. Czech National Bank now owns 82,032 shares of the bank’s stock valued at $2,977,000 after acquiring an additional 375 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Citizens Financial Group by 1.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 21,343 shares of the bank’s stock valued at $707,000 after acquiring an additional 393 shares during the last quarter. Wealthspire Advisors LLC grew its holdings in shares of Citizens Financial Group by 4.1% during the fourth quarter. Wealthspire Advisors LLC now owns 11,071 shares of the bank’s stock worth $367,000 after purchasing an additional 439 shares in the last quarter. Finally, Connable Office Inc. increased its position in shares of Citizens Financial Group by 2.6% in the fourth quarter. Connable Office Inc. now owns 17,319 shares of the bank’s stock worth $574,000 after purchasing an additional 443 shares during the last quarter. 94.90% 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 that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.