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Citizens Financial Group Inc. ($CFG) Stock Forecast: Down 3.2% Today

Morpher AI identified a bearish signal. The stock price may continue to fall based on the momentum of the negative news.

What is Citizens Financial Group Inc.?

Asset Citizens Financial Group (CFG) is a financial institution listed on the NYSE. Today, the stock experienced a strong bearish movement in the market.

Why is Citizens Financial Group Inc. going down?

CFG stock is down 3.2% on Jul 3, 2024 17:36

  • The short interest in Citizens Financial Group (CFG) has decreased significantly by 11.54%, indicating a potential lack of confidence among investors.
  • Despite declaring a boost in their buyback program and stress buffer, the market reaction seems to be negative, possibly due to concerns about the company's future performance.
  • The increase in share repurchase authorization to $1.25 billion might not have been sufficient to offset the overall sentiment surrounding the stock, leading to the bearish movement.
  • Investors may be interpreting the stress test results and capital actions as insufficient to mitigate potential risks, resulting in the downward pressure on CFG's stock price.

CFG Price Chart

CFG News

( CFG ) - Analyzing Citizens Financial Group's Short Interest - Citizens Financial Group ( NYSE:CFG )

Citizens Financial Group's CFG short percent of float has fallen 11.54% since its last report. The company recently reported that it has 7.90 million shares sold short, which is 2.3% of all regular shares that are available for trading.

https://www.benzinga.com/insights/short-sellers/24/07/39616811/cfg-analyzing-citizens-financial-groups-short-interest

News Article Image  ( CFG )  - Analyzing Citizens Financial Group's Short Interest - Citizens Financial Group  ( NYSE:CFG )

Citizens Financial ( CFG ) Declares SCB & Planned Capital Actions

Citizens Financial (CFG) expands share repurchase plan by $656 million following the stress test results. Given the company's solid balance sheet and decent liquidity profile, this seems sustainable.

https://www.zacks.com/stock/news/2295532/citizens-financial-cfg-declares-scb-planned-capital-actions

News Article Image Citizens Financial  ( CFG )  Declares SCB & Planned Capital Actions

Citizens Financial Reveals Stress Buffer and Boosts Buyback Program

The latest announcement is out from Citizens Financial (CFG). Citizens Financial Group, Inc. disclosed a preliminary Stress Capital Buffer of 4.5% …

https://www.tipranks.com/news/company-announcements/citizens-financial-reveals-stress-buffer-and-boosts-buyback-program

News Article Image Citizens Financial Reveals Stress Buffer and Boosts Buyback Program

Citizens Financial Group, Inc. Announces Preliminary Stress Capital Buffer and $656 million Increase in Share Repurchase Authorization to $1.25 billion

Citizens Financial Group, Inc. today announces the Board of Governors of the Federal Reserve System has communicated to the Company its preliminary Stress Capital Buffer of 4.5%, effective October 1, 2024, following the release of the Federal Reserve’ s DFAST stress test results on June 26, 2024. The Company also today announced that its board of directors has… The post Citizens Financial Group, Inc. Announces Preliminary Stress Capital Buffer and $656 million Increase in Share Repurchase Authorization to $1.25 billion appeared first on Insurance News | InsuranceNewsNet .

https://insurancenewsnet.com/oarticle/citizens-financial-group-inc-announces-preliminary-stress-capital-buffer-and-656-million-increase-in-share-repurchase-authorization-to-1-25-billion

News Article Image Citizens Financial Group, Inc. Announces Preliminary Stress Capital Buffer and $656 million Increase in Share Repurchase Authorization to $1.25 billion

Citizens Financial Group, Inc. Announces Preliminary Stress Capital Buffer and $656 million Increase in Share Repurchase Authorization to $1.25 billion

Citizens Financial Group, Inc. (NYSE: CFG or the “Company”) today announces the Board of Governors of the Federal Reserve System (the “Federal Reserve”) has communicated to the Company its preliminary Stress Capital Buffer (“SCB”) of 4.5%, effective October 1, 2024, following the release of the Federal Reserve’s DFAST stress test results on June 26, 2024. The Company’s regulatory Jetzt den vollständigen Artikel lesen

https://www.wallstreet-online.de/nachricht/18230467-citizens-financial-group-inc-announces-preliminary-stress-capital-buffer-and-656-million-increase-share-repurchase-authorization-to-1-25-billion

News Article Image Citizens Financial Group, Inc. Announces Preliminary Stress Capital Buffer and $656 million Increase in Share Repurchase Authorization to $1.25 billion

Citizens Financial Group Inc. Price History

03.06.2024 - CFG Stock was down 3.2%

  • The short interest in Citizens Financial Group (CFG) has decreased significantly by 11.54%, indicating a potential lack of confidence among investors.
  • Despite declaring a boost in their buyback program and stress buffer, the market reaction seems to be negative, possibly due to concerns about the company's future performance.
  • The increase in share repurchase authorization to $1.25 billion might not have been sufficient to offset the overall sentiment surrounding the stock, leading to the bearish movement.
  • Investors may be interpreting the stress test results and capital actions as insufficient to mitigate potential risks, resulting in the downward pressure on CFG's stock price.

10.05.2024 - CFG Stock was up 2.2%

  • Despite the tough climate for regional bank stocks, CFG demonstrated a bullish trend, showing potential strength and optimism towards the company.
  • The recent announcement of executive bonuses and expansion of wealth management services by Citizens Financial Services may have increased investor confidence in the company's growth prospects.
  • CFG's participation in the Morgan Stanley conference could have offered insights into the company's future plans and strategic direction, influencing the positive market movement.
  • A shift in the schedule of the third-quarter results conference call could have also heightened anticipation and positive outlook among investors, contributing to the bullish trend in CFG's stock.

05.02.2024 - CFG Stock was up 5.1%

  • An analyst foresees a rapid surge in Centrifuge (CFG) amid the expanding tokenization field.
  • CFG's price is anticipated to hit a new record high in the upcoming altseason.
  • The surge in CFG's value may be attributed to the rising interest in tokenization and the generally positive investor sentiment in the crypto market.
  • Investors appear hopeful about Centrifuge (CFG)'s growth potential and future opportunities, fueling today's strong bullish performance.

13.01.2024 - CFG Stock was down 5.6%

  • The downgrading of Citizens Financial Group's rating by two financial firms may have influenced the bearish movement of the stock.
  • Despite an initial boost in optimism due to a price target increase by a prominent financial institution, the overall trend remained bearish.
  • The earnings forecast for Q3 2024, which fell short of investor expectations, likely contributed to the stock's downward trajectory.
  • While news of Citizens Bank offering competitive rates on its certificate of deposit account emerged, it did not seem to have a notable impact on CFG's stock performance.

13.01.2024 - CFG Stock was down 5.5%

  • The stock downgraded by some analysts likely impacted the bearish movement of Citizens Financial Group's stock.
  • An increase in the price target by another analyst indicates a positive outlook for the stock, although it did not have a significant impact on the market.
  • Positive forecasted earnings for Q3 2024 by an independent research firm may not have been enough to counter the overall bearish sentiment in the market.
  • These factors together suggest that the downgrade in rating played a significant role in the bearish movement of CFG today.

14.10.2023 - CFG Stock was up 6.6%

  • Glassman Wealth Services decreased its stock position in CFG, indicating a lack of confidence in the company's future prospects. However, this did not seem to have a significant impact on the stock's bullish movement.
  • Kovitz Investment Group Partners LLC increased its holdings in CFG, suggesting a positive sentiment towards the stock. This could have contributed to the bullish movement.
  • Wilbanks Smith & Thomas Asset Management LLC reduced its stake in CFG, which could have initially raised concerns. However, this did not hinder the stock's bullish momentum.
  • Bill Gross, the Bond King, emphasized bank stocks, including CFG, as potential investments. This endorsement from a prominent investor may have attracted buyers and contributed to the bullish movement.
  • Overall, despite some mixed signals from different investment firms, CFG experienced a strong bullish movement, potentially driven by positive sentiment and endorsement from Bill Gross.

03.10.2023 - CFG Stock was up 5.9%

  • The bullish movement in CFG stock today can be attributed to the following factors:
  • 1. Upgraded Rating: The research report upgrading Citizens Financial Group from an "underperform" rating could have boosted investor confidence and attracted buying interest.
  • 2. Bill Gross's Investment: Renowned bond investor Bill Gross's decision to buy shares of Citizens Financial Group, along with other financial institutions, indicates positive sentiment towards the stock and the sector as a whole.
  • 3. Insider Buying: The news of insiders purchasing shares of Citizens Financial Group suggests that they have confidence in the company's prospects, which could have influenced other investors to follow suit.
  • 4. Selective Regional Bank Interest: Bill Gross's focus on buying shares of Citizens Financial Group, Truist Financial, and KeyCorp, while staying away from other regional banks, highlights the potential strength and attractiveness of these specific institutions.
  • Overall, the combination of positive ratings, influential investors' interest, and insider buying activity likely contributed to the bullish movement in CFG stock today.

02.10.2023 - CFG Stock was up 5.2%

  • The bullish movement in CFG's stock today can be attributed to several factors:
  • 1. Insider Buying: The news of insiders buying shares of CFG indicates their confidence in the company's prospects. This positive sentiment could have influenced other investors to also buy the stock, leading to the bullish movement.
  • 2. Bill Gross's Interest: The renowned investor Bill Gross has been buying shares of CFG, along with other regional banks. This could have generated positive market sentiment and attracted more investors to the stock.
  • 3. Positive Stock Position: Gator Capital Management and other institutional investors have raised their stock positions in CFG. This suggests that these investors see potential in the company and expect its stock to perform well, contributing to the bullish movement.
  • 4. Attractive Valuation and Dividend Yield: CFG has been recognized as a top dividend stock with attractive valuation and strong profitability metrics. This could have attracted income-seeking investors, further driving the bullish movement.
  • Overall, the combination of insider buying, influential investors showing interest, positive stock positions from institutional investors, and attractive valuation metrics likely contributed to the bullish market movement in CFG today.

20.09.2023 - CFG Stock was down 5.2%

  • The stock CFG experienced a strong bearish movement today.
  • The launch of the private-banking unit and the expansion of its wealth management services could have been seen as positive news for the company.
  • However, the overall poor performance of CFG's shares over the past year and the interest rate misstep mentioned in one of the articles might have influenced the bearish market movement.
  • The buzzsaw effect mentioned in an article from Seeking Alpha could imply that despite the operational progress, CFG's stock is facing challenges that are hindering its growth.

18.09.2023 - CFG Stock was down 5.0%

  • CFG reported a decrease in third-quarter net income, reflecting a year-over-year drop in revenues.
  • The company missed Q3 FY23 earnings estimates and reported a revenue decline of 7% year-over-year.
  • The profit of CFG dropped 33% due to a decline in income earned from charging customers interest on their loans.
  • Overall, the bearish movement in CFG can be attributed to the disappointing earnings results and revenue decline, primarily driven by a slump in interest income.

15.07.2023 - CFG Stock was down 5.4%

  • The bearish movement in CFG could be attributed to the divestment of auto loans by Synovus, which is following the industry trend. This may have created concerns about the overall health of the banking sector.
  • Moody's downgrades on US banks, including smaller and mid-sized ones, and the review of larger firms for potential downgrades, could have contributed to the bearish movement in CFG. The negative outlook for financial firms and the expected tightening of credit conditions and rising loan losses for US banks mentioned in the article may have affected investor sentiment.
  • The overall challenging operating environment for banks, including rising costs of capital, deteriorating profits, and climbing risks to assets, as highlighted by Moody's, could have further added to the bearish movement in CFG.
  • The impact of Federal Reserve's policy decisions, such as higher interest rates and an uncertain base of deposits, as mentioned in the article, may have also played a role in the bearish movement of CFG.

29.05.2023 - CFG Stock was up 2.6%

  • J.P. Morgan downgraded Citizens Financial Group to neutral from overweight after the Fed's stress test results, citing increased capital requirements and pressure on profitability.
  • The stress test results for major banks, including Citizens Financial Group, came in better than expected, with some banks, like J.P. Morgan, Bank of America, and Goldman Sachs, seeing a reduction in their stress capital buffers.
  • Citizens Financial Group is facing high losses on its commercial real estate loans, particularly due to a high level of maturities of office loans in 2023 and 2024.
  • Despite the downgrade and challenges in the commercial real estate sector, Citizens Financial Group's stock had a bullish movement, indicating potential positive market sentiment and investor confidence in the bank's resilience.
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Disclaimer
Morpher is not liable for the content of the AI investment insights. Like most GPT-powered tools, these summaries may contain AI hallucinations and inaccurate information. Morpher is not presenting you with any investment advice. All investments involve risk, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. These summaries do not constitute investment advice.