Citizens Financial Group Inc (NYSE:CFG) – Equities research analysts at Oppenheimer decreased their FY2017 earnings estimates for Citizens Financial Group in a research report issued on Tuesday. Oppenheimer analyst B. Chittenden now anticipates that the bank will post earnings of $2.58 per share for the year, down from their prior forecast of $2.59. Oppenheimer currently has a “Hold” rating on the stock. Oppenheimer also issued estimates for Citizens Financial Group’s Q1 2018 earnings at $0.79 EPS, Q2 2018 earnings at $0.83 EPS, Q3 2018 earnings at $0.84 EPS and FY2018 earnings at $3.31 EPS.
CFG has been the topic of several other reports. Barclays lifted their price target on Citizens Financial Group from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, October 23rd. Zacks Investment Research lowered Citizens Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. Citigroup restated a “neutral” rating and set a $42.00 price target (up from $38.00) on shares of Citizens Financial Group in a research report on Monday, October 9th. Bank of America restated an “underperform” rating and set a $40.00 price target (down from $41.00) on shares of Citizens Financial Group in a research report on Monday, October 2nd. Finally, Deutsche Bank reissued a “hold” rating and issued a $36.00 target price (up from $34.00) on shares of Citizens Financial Group in a report on Tuesday, September 26th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. Citizens Financial Group presently has an average rating of “Hold” and an average price target of $41.46.
Citizens Financial Group (NYSE:CFG) last posted its earnings results on Friday, October 20th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.04. Citizens Financial Group had a return on equity of 6.44% and a net margin of 20.26%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the firm earned $0.52 earnings per share. The business’s revenue was up 4.6% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. grew its position in shares of Citizens Financial Group by 8.2% during the second quarter. Pacer Advisors Inc. now owns 10,675 shares of the bank’s stock worth $381,000 after purchasing an additional 812 shares in the last quarter. Neuberger Berman Group LLC grew its position in shares of Citizens Financial Group by 4.8% during the second quarter. Neuberger Berman Group LLC now owns 38,483 shares of the bank’s stock worth $1,373,000 after purchasing an additional 1,752 shares in the last quarter. Commerce Bank purchased a new stake in shares of Citizens Financial Group during the second quarter worth about $250,000. Cipher Capital LP purchased a new stake in shares of Citizens Financial Group during the second quarter worth about $1,124,000. Finally, LSV Asset Management grew its position in shares of Citizens Financial Group by 392.9% during the second quarter. LSV Asset Management now owns 1,399,870 shares of the bank’s stock worth $49,947,000 after purchasing an additional 1,115,870 shares in the last quarter. Institutional investors and hedge funds own 98.48% of the company’s stock.
In related news, Director Wendy A. Watson sold 4,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $40.31, for a total transaction of $161,240.00. Following the completion of the sale, the director now owns 12,917 shares in the company, valued at $520,684.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by corporate insiders.
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About Citizens Financial Group
Citizens Financial Group, Inc is a retail bank holding company. The Company operates through two segments: Consumer Banking and Commercial Banking. Its Consumer Banking serves retail customers and small businesses. Consumer Banking products and services include deposit products, mortgage and home equity lending, auto financing, student loans, personal unsecured lines and loans, credit cards, business loans, wealth management and investment services.
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