Oppenheimer Reiterates a Hold Rating on Citizens FinancialBy Austin Angelo
“CFG really hit its stride in 1Q17. Typically returns are seasonally lower in 1Q, but reported ROTCE was 9.7% vs. 8.4% in 4Q16 and very close to the company’s 10% target. To be fair, $0.04 was due to the recent tax changes we’ve seen at peers, but even excluding that core ROTCE was 9.0%. It’s impressive given that just two years ago ROTCE was 6.7% and shows how much progress CFG has made against its IPO business plan. With rates continuing to go higher and with fee growth really kicking, in we continue to think that CFG can outperform expectations.”
According to TipRanks.com, Chittenden is a 1-star analyst with an average return of -0.3% and a 49.7% success rate. Chittenden covers the Financial sector, focusing on stocks such as Sutherland Asset Management Corporation, America First Tax Exempt LP, and Discover Financial Services.
Citizens Financial has an analyst consensus of Moderate Buy, with a price target consensus of $38.33.
Based on Citizens Financial’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $1.47 billion and quarterly net profit of $282 million. In comparison, last year the company earned revenue of $1.4 billion and had a net profit of $223 million.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CFG in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Citizens Financial Group, Inc. engages in the provision of commercial banking services. It operates through the Consumer Banking and Commercial Banking segments. The Consumer Banking segment includes deposit products, mortgage and home equity lending, student loans, auto financing, credit cards, business loans, and wealth management and investment services. The Commercial Banking segment offers lending and leasing, trade financing, deposit and treasury management, foreign exchange and interest rate risk management, corporate finance and debt, and equity capital markets. The company was founded in 1828 and is headquartered in Providence, RI.