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

Citizens Financial Group (NYSE:CFG) had its price target lifted by equities researchers at Citigroup from $50.00 to $58.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. Citigroup’s target price would suggest a potential upside of 23.17% from the stock’s previous close.

CFG has been the subject of a number of other reports. DA Davidson boosted their price objective on shares of Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Morgan Stanley upped their price target on Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Royal Bank of Canada lifted their price objective on Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Piper Sandler upped their target price on Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods raised their target price on 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. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $44.80.

Citizens Financial Group Stock Up 2.1 %

Shares of NYSE CFG traded up $0.97 during mid-day trading on Thursday, reaching $47.09. The company had a trading volume of 589,301 shares, compared to its average volume of 5,262,101. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market capitalization of $20.75 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.75 and a beta of 1.07. The stock has a fifty day moving average of $42.54 and a two-hundred day moving average of $39.65. Citizens Financial Group has a 12-month low of $26.13 and a 12-month high of $48.35.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, meeting the consensus estimate of $0.79. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company earned $0.85 earnings per share. The business’s revenue was down 5.6% compared to the same quarter last year. As a group, equities research analysts expect that Citizens Financial Group will post 3.2 EPS for the current year.

Institutional Trading of Citizens Financial Group

A number of institutional investors have recently bought and sold shares of CFG. UniSuper Management Pty Ltd grew its stake in Citizens Financial Group by 1,045.4% in the first quarter. UniSuper Management Pty Ltd now owns 25,692 shares of the bank’s stock valued at $932,000 after acquiring an additional 23,449 shares during the period. Bessemer Group Inc. lifted its stake in Citizens Financial Group by 31.9% in the first quarter. Bessemer Group Inc. now owns 57,197 shares of the bank’s stock valued at $2,075,000 after buying an additional 13,842 shares in the last quarter. Toronto Dominion Bank boosted its holdings in shares of Citizens Financial Group by 1.8% in the first quarter. Toronto Dominion Bank now owns 263,151 shares of the bank’s stock valued at $9,550,000 after buying an additional 4,681 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Citizens Financial Group by 101.6% during the first quarter. Canada Pension Plan Investment Board now owns 761,679 shares of the bank’s stock worth $27,641,000 after acquiring an additional 383,947 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in shares of Citizens Financial Group by 13.0% during the first quarter. 1832 Asset Management L.P. now owns 63,758 shares of the bank’s stock worth $2,314,000 after acquiring an additional 7,339 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

About Citizens Financial Group

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.