Citizens Financial Group (NYSE:CFG) Price Target Cut to $36.00 by Analysts at JPMorgan Chase & Co.

Citizens Financial Group (NYSE:CFG) had its price target dropped by analysts at JPMorgan Chase & Co. from $36.50 to $36.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 2.89% from the stock’s previous close.

Several other equities analysts also recently commented on CFG. StockNews.com downgraded shares of Citizens Financial Group from a “hold” rating to a “sell” rating in a report on Saturday, April 27th. Morgan Stanley boosted their target price on shares of Citizens Financial Group from $31.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Argus boosted their target price on shares of Citizens Financial Group from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Jefferies Financial Group boosted their target price on shares of Citizens Financial Group from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Finally, Wedbush lowered their target price on shares of Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Citizens Financial Group has an average rating of “Hold” and a consensus price target of $37.73.

Citizens Financial Group Stock Performance

CFG opened at $34.99 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.63. The company has a market cap of $16.04 billion, a price-to-earnings ratio of 12.68 and a beta of 1.36. The company’s 50 day moving average is $33.95 and its 200 day moving average is $31.18. Citizens Financial Group has a 12-month low of $22.77 and a 12-month high of $36.38.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the business posted $1.00 EPS. The business’s quarterly revenue was down 7.9% compared to the same quarter last year. On average, equities research analysts predict that Citizens Financial Group will post 3.24 EPS for the current year.

Insider Activity

In other news, insider Craig Jack Read sold 6,327 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $33.70, for a total transaction of $213,219.90. Following the transaction, the insider now owns 37,558 shares in the company, valued at $1,265,704.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Citizens Financial Group

A number of hedge funds and other institutional investors have recently made changes to their positions in CFG. Lindbrook Capital LLC grew its stake in shares of Citizens Financial Group by 100.8% during the 3rd quarter. Lindbrook Capital LLC now owns 988 shares of the bank’s stock worth $26,000 after purchasing an additional 496 shares during the period. Larson Financial Group LLC acquired a new stake in shares of Citizens Financial Group during the 4th quarter worth approximately $33,000. Quarry LP grew its stake in shares of Citizens Financial Group by 183.1% during the 4th quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after purchasing an additional 714 shares during the period. Authentikos Wealth Advisory LLC acquired a new stake in shares of Citizens Financial Group during the 3rd quarter worth approximately $40,000. Finally, CVA Family Office LLC acquired a new stake in shares of Citizens Financial Group during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

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.