Citizens Financial Group, Inc. (CFG) Forms Bearish Wedge Down; Strong Momentum for Sellers

May 18, 2018 - By Christine Reyes

Citizens Financial Group, Inc. (NYSE:CFG) Logo

Investors sentiment decreased to 0.94 in Q4 2017. Its down 0.07, from 1.01 in 2017Q3. It is negative, as 38 investors sold Citizens Financial Group, Inc. shares while 197 reduced holdings. 66 funds opened positions while 155 raised stakes. 456.57 million shares or 2.62% less from 468.84 million shares in 2017Q3 were reported.
Qs Invsts Ltd Co has invested 0.04% in Citizens Financial Group, Inc. (NYSE:CFG). Retail Bank Of Mellon Corporation reported 4.29 million shares stake. Royal Bancorporation Of Canada accumulated 2.25M shares. Canada Pension Plan Inv Board holds 0.11% or 1.40M shares in its portfolio. Dekabank Deutsche Girozentrale owns 265,246 shares for 0.07% of their portfolio. Moneta Grp Inc Advsrs Ltd Co stated it has 8 shares. Sumitomo Mitsui Tru holds 0.09% in Citizens Financial Group, Inc. (NYSE:CFG) or 1.71 million shares. Los Angeles Capital Mgmt & Equity Incorporated stated it has 0.01% of its portfolio in Citizens Financial Group, Inc. (NYSE:CFG). Nomura Inc accumulated 127,970 shares. C M Bidwell & Assocs Ltd reported 0.99% in Citizens Financial Group, Inc. (NYSE:CFG). Zeke Advsrs Ltd holds 0.04% of its portfolio in Citizens Financial Group, Inc. (NYSE:CFG) for 8,505 shares. Arizona State Retirement stated it has 0.15% of its portfolio in Citizens Financial Group, Inc. (NYSE:CFG). Basswood Cap Mgmt Limited Liability reported 496,637 shares stake. Cordasco Networks reported 67 shares stake. Bb&T Securities Limited Liability Corp has 7,619 shares for 0% of their portfolio.

The stock of Citizens Financial Group, Inc. (CFG) formed a down wedge with $41.23 target or 3.00 % below today’s $42.50 share price. The 6 months wedge indicates high risk for the $20.60 billion company. If the $41.23 price target is reached, the company will be worth $618.03 million less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 0.09% or $0.04 during the last trading session, reaching $42.5. About 3.58 million shares traded. Citizens Financial Group, Inc. (NYSE:CFG) has risen 21.47% since May 18, 2017 and is uptrending. It has outperformed by 9.92% the S&P500.

Analysts await Citizens Financial Group, Inc. (NYSE:CFG) to report earnings on July, 20. They expect $0.85 earnings per share, up 34.92 % or $0.22 from last year’s $0.63 per share. CFG’s profit will be $412.02 million for 12.50 P/E if the $0.85 EPS becomes a reality. After $0.78 actual earnings per share reported by Citizens Financial Group, Inc. for the previous quarter, Wall Street now forecasts 8.97 % EPS growth.

Citizens Financial Group, Inc. (NYSE:CFG) Ratings Coverage

Among 14 analysts covering Citizens Financial Group (NYSE:CFG), 9 have Buy rating, 0 Sell and 5 Hold. Therefore 64% are positive. Citizens Financial Group had 27 analyst reports since December 13, 2017 according to SRatingsIntel. The stock of Citizens Financial Group, Inc. (NYSE:CFG) earned “Buy” rating by BMO Capital Markets on Friday, April 20. The firm has “Outperform” rating by BMO Capital Markets given on Monday, April 23. On Friday, January 19 the stock rating was maintained by Sandler O’Neill with “Hold”. The firm earned “Hold” rating on Monday, January 8 by Jefferies. Deutsche Bank upgraded the stock to “Buy” rating in Wednesday, April 4 report. Citigroup maintained Citizens Financial Group, Inc. (NYSE:CFG) on Monday, April 9 with “Neutral” rating. The firm has “Buy” rating by Bernstein given on Monday, January 22. The company was upgraded on Tuesday, December 19 by BMO Capital Markets. The stock of Citizens Financial Group, Inc. (NYSE:CFG) earned “Hold” rating by Sandler O’Neill on Monday, March 26. The firm has “Buy” rating given on Friday, January 19 by BMO Capital Markets.

Citizens Financial Group, Inc. operates as the bank holding firm for Citizens Bank, N.A. and Citizens Bank of Pennsylvania that provide retail and commercial banking services and products in the United States. The company has market cap of $20.60 billion. It operates in two divisions, Consumer Banking and Commercial Banking. It has a 13.08 P/E ratio. The Consumer Banking segment offers traditional banking services and products, including checking, savings, mortgage and home equity lending, student loans, personal unsecured lines and loans, credit cards, business loans, and wealth management and investment services for retail clients and small businesses.

Citizens Financial Group, Inc. (NYSE:CFG) Institutional Positions Chart

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