Citizens Financial Group, Inc. (NYSE:CFG) had its target price hoisted by analysts at Barclays PLC from $39.00 to $41.00 in a report released on Monday. The brokerage presently has an “equal weight” rating on the bank’s stock. Barclays PLC’s target price indicates a potential upside of 6.85% from the stock’s current price.
A number of other research firms have also recently commented on CFG. Zacks Investment Research upgraded Citizens Financial Group from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Tuesday, July 4th. Deutsche Bank AG reiterated a “hold” rating and set a $36.00 price objective (up previously from $34.00) on shares of Citizens Financial Group in a research report on Tuesday, September 26th. BidaskClub upgraded Citizens Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Sanford C. Bernstein upgraded Citizens Financial Group from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $38.00 to $43.00 in a research report on Thursday, September 14th. Finally, TheStreet upgraded Citizens Financial Group from a “c” rating to a “b-” rating in a research report on Monday, August 7th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $38.47.
Citizens Financial Group (CFG) opened at 38.37 on Monday. The stock’s 50 day moving average price is $36.21 and its 200 day moving average price is $35.50. Citizens Financial Group has a 1-year low of $25.50 and a 1-year high of $39.75. The company has a market cap of $19.21 billion, a P/E ratio of 16.38 and a beta of 1.36.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, October 20th. The bank reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Citizens Financial Group had a return on equity of 6.44% and a net margin of 20.26%. Citizens Financial Group’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 earnings per share. On average, equities analysts anticipate that Citizens Financial Group will post $2.64 earnings per share for the current fiscal year.
Citizens Financial Group declared that its board has authorized a share repurchase program on Wednesday, June 28th that allows the company to repurchase $850.00 million in shares. This repurchase authorization allows the bank to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sun Life Financial INC boosted its stake in shares of Citizens Financial Group by 41,266.7% in the second quarter. Sun Life Financial INC now owns 3,723 shares of the bank’s stock worth $133,000 after acquiring an additional 3,714 shares during the period. Smithfield Trust Co. boosted its stake in shares of Citizens Financial Group by 1.4% in the second quarter. Smithfield Trust Co. now owns 4,994 shares of the bank’s stock worth $178,000 after acquiring an additional 70 shares during the period. Colony Group LLC bought a new position in shares of Citizens Financial Group in the second quarter worth about $210,000. Courier Capital LLC bought a new position in shares of Citizens Financial Group in the second quarter worth about $214,000. Finally, Quotient Investors LLC bought a new position in shares of Citizens Financial Group in the third quarter worth about $227,000. 96.45% of the stock is owned by hedge funds and other institutional investors.
About Citizens Financial Group
Citizens Financial Group, Inc is a retail bank holding company. The Company operates through two segments: Consumer Banking and Commercial Banking. Its Consumer Banking serves retail customers and small businesses. Consumer Banking products and services include deposit products, mortgage and home equity lending, auto financing, student loans, personal unsecured lines and loans, credit cards, business loans, wealth management and investment services.
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