Citigroup Raises Citizens Financial Group (NYSE:CFG) Price Target to $58.00

Citizens Financial Group (NYSE:CFG) had its price target upped by Citigroup from $50.00 to $58.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. Citigroup’s price objective would suggest a potential upside of 21.70% from the stock’s previous close.

CFG has been the subject of a number of other reports. Barclays raised their price objective on Citizens Financial Group from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods boosted their price target on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a “market perform” rating in a research report on Monday, September 30th. Royal Bank of Canada increased their price objective on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Piper Sandler boosted their target price on shares of Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Citizens Financial Group has an average rating of “Hold” and a consensus price target of $44.80.

Citizens Financial Group Stock Up 1.9 %

NYSE:CFG opened at $47.66 on Thursday. Citizens Financial Group has a one year low of $26.13 and a one year high of $48.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market cap of $21.00 billion, a PE ratio of 18.76, a P/E/G ratio of 1.75 and a beta of 1.07. The firm’s 50 day simple moving average is $42.83 and its 200 day simple moving average is $39.79.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, hitting the consensus estimate of $0.79. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. Citizens Financial Group’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. On average, research analysts anticipate that Citizens Financial Group will post 3.2 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Canada Pension Plan Investment Board lifted its stake in Citizens Financial Group by 101.6% in the first quarter. Canada Pension Plan Investment Board now owns 761,679 shares of the bank’s stock valued at $27,641,000 after purchasing an additional 383,947 shares during the last quarter. Versor Investments LP bought a new stake in shares of Citizens Financial Group in the third quarter valued at $1,910,000. UniSuper Management Pty Ltd lifted its position in shares of Citizens Financial Group by 1,045.4% during the 1st quarter. UniSuper Management Pty Ltd now owns 25,692 shares of the bank’s stock valued at $932,000 after buying an additional 23,449 shares during the last quarter. CWM LLC grew its stake in shares of Citizens Financial Group by 77.1% during the 2nd quarter. CWM LLC now owns 40,699 shares of the bank’s stock worth $1,466,000 after acquiring an additional 17,718 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Citizens Financial Group in the 2nd quarter worth about $5,009,000. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.