Citizens Financial Group, Inc. (CFG) PT Raised to $41.00
Citizens Financial Group, Inc. (NYSE:CFG) had its target price lifted by Barclays PLC from $39.00 to $41.00 in a research note issued to investors on Monday. The firm currently has an “equal weight” rating on the bank’s stock. Barclays PLC’s target price points to a potential upside of 6.97% from the company’s current price.
Several other brokerages have also issued reports on CFG. Zacks Investment Research raised Citizens Financial Group from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Tuesday, July 4th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $36.00 target price (up previously from $34.00) on shares of Citizens Financial Group in a research note on Tuesday, September 26th. BidaskClub raised Citizens Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Sanford C. Bernstein raised Citizens Financial Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $38.00 to $43.00 in a research note on Thursday, September 14th. Finally, TheStreet raised Citizens Financial Group from a “c” rating to a “b-” rating in a research note on Monday, August 7th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $38.00.
Citizens Financial Group (CFG) traded up 0.44% during midday trading on Monday, hitting $38.50. 8,093,293 shares of the stock were exchanged. Citizens Financial Group has a 1-year low of $25.50 and a 1-year high of $39.75. The company’s 50 day moving average is $36.01 and its 200 day moving average is $35.44. The company has a market capitalization of $19.28 billion, a P/E ratio of 16.44 and a beta of 1.37.
Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, October 20th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.04. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. Citizens Financial Group had a return on equity of 6.08% and a net margin of 19.86%. Citizens Financial Group’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Analysts predict that Citizens Financial Group will post $2.64 earnings per share for the current fiscal year.
Citizens Financial Group announced that its Board of Directors has approved 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 buy up to 4.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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Hedge funds have recently made changes to their positions in the stock. Sun Life Financial INC lifted its stake in 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. lifted its stake in 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 purchased a new stake in Citizens Financial Group in the second quarter worth $210,000. Courier Capital LLC purchased a new stake in Citizens Financial Group in the second quarter worth $214,000. Finally, Eagle Global Advisors LLC purchased a new stake in Citizens Financial Group in the second quarter worth $215,000. 96.74% of the stock is owned by institutional investors.
Citizens Financial Group Company Profile
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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