Citizens Financial Group Inc. (NYSE: CFG) shares fell on Thursday December 29 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a downgraded rating.
Meanwhile, U.S. stocks were little changed in early trade Thursday. The S&P 500 SPX, +0.04% rose 0.1% to 2,252, while the Dow DJIA, +0.04% advanced 16 points to 19,850. The Nasdaq Composite COMP, -0.04% was virtually flat at 5,439.
Analysts at Zacks Investment Research downgraded shares of Citizens Financial Group Inc. (NYSE: CFG) from Buy to Hold in a research note to investors today. With a rating of Hold on the shares, the company has a 52-week high of $36.56. The one-year price target of $33.50 is a decrease compared to the opening price of $35.95, resulting a fair amount of other analysts to report on the company in recent days. Downgrades happen when analysts consider that the future prospects for the security have weakened from the original recommendation, often caused by a considerable and crucial change in the company’s operations, future direction or industry.
Shares of Citizens Financial Group Inc. (NYSE: CFG) opened at $35.95 on Tuesday trading between $35.80 and $36.02, and last traded at $35.84, which represents a dip of $0.16 per share or -0.44% from the previous closing price.
Citizens Financial Group Inc. (NYSE: CFG) currently has a market cap of 18.57B.
Citizens Financial Group Inc. (NYSE: CFG) Average Daily Trading Volume
The stock’s average daily volume is 6,017,870 shares out of a total float 516,567,000 and some 251,150 shares traded hands yesterday, lower than the average. Swing traders often use swings in trading volume to pinpoint substantial volume aggregation or circulation by institutional investors, so look for trading volume to pick up in the coming days.
As with all potential breakouts, investors look for volume to be at least 40%-50% greater than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have teams of analysts that investigate thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
Citizens Financial Group Inc. (NYSE: CFG) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
With that in mind, Citizens Financial Group Inc. (NYSE: CFG) now has a 50-day MA of $33.56 and 200-day MA of $25.89. It has traded in a 52-week range between $18.04 – 36.56 and today’s last price is 1.97%% lower than the 52 week high of $36.56.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors watch for companies that have grown their earnings at least 25% or more over the past 3 years.
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