Zacks Investment Research Downgrades Citizens Financial Group (NYSE:CFG) to Sell

Citizens Financial Group (NYSE:CFG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday, Zacks.com reports. They currently have a $37.00 target price on the bank’s stock. Zacks Investment Research‘s price target suggests a potential upside of 3.50% from the company’s previous close.

According to Zacks, “Shares of Citizens Financial have outperformed the industry in the past three months. Also, the company has an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in each of the trailing four quarters. Rising loans and deposits balance along with expanding margins will support bottom line in the quarters ahead. Also, it continues to focus on revenue and efficiency initiatives, the latest being TOP V Program, which are anticipated to deliver pre-tax benefit of $95-$105 million by the end of 2019. Further, the company is likely to benefit from its improving credit quality. However, significant exposure to commercial loans remains a headwind. Also, pending probes and litigations, which are expected to result in a rise in legal costs, remain a concern. Moreover, declining fee income keeps topline under pressure.”

CFG has been the topic of several other research reports. Wedbush set a $13.00 price target on SLM and gave the stock a “buy” rating in a research note on Monday, April 22nd. UBS Group upped their price target on Willis Towers Watson from $202.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. assumed coverage on Pinduoduo in a research note on Tuesday, July 9th. They issued an “underweight” rating and a $20.48 price target on the stock. Argus assumed coverage on Citizens Financial Group in a research note on Wednesday, June 19th. They issued a “hold” rating on the stock. Finally, Citigroup upgraded Infosys from a “neutral” rating to a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $40.21.

Citizens Financial Group stock opened at $35.75 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.96 and a quick ratio of 0.95. The stock has a market cap of $16.30 billion, a P/E ratio of 10.04, a P/E/G ratio of 1.16 and a beta of 1.44. The stock has a 50 day moving average of $34.67. Citizens Financial Group has a twelve month low of $27.62 and a twelve month high of $41.76.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Thursday, April 18th. The bank reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.04. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. Citizens Financial Group had a return on equity of 8.88% and a net margin of 22.96%. During the same quarter in the prior year, the business posted $0.78 EPS. Research analysts predict that Citizens Financial Group will post 3.81 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Semmax Financial Advisors Inc. purchased a new stake in Citizens Financial Group during the 4th quarter valued at $26,000. Zions Bancorporation N.A. bought a new position in shares of Citizens Financial Group during the 1st quarter valued at $29,000. Liberty Wealth Management LLC bought a new position in shares of Citizens Financial Group during the 1st quarter valued at $34,000. PRW Wealth Management LLC bought a new position in shares of Citizens Financial Group during the 4th quarter valued at $32,000. Finally, Sageworth Trust Co bought a new position in shares of Citizens Financial Group during the 1st quarter valued at $50,000. Institutional investors and hedge funds own 95.49% 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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