Cantor Fitzgerald Issues Positive Forecast for Citizens Financial Group (NYSE:CFG) Stock Price

Citizens Financial Group (NYSE:CFG) had its target price increased by Cantor Fitzgerald from $75.00 to $80.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the bank’s stock.

Several other research analysts also recently commented on the company. DA Davidson raised their price objective on Citizens Financial Group from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Weiss Ratings upgraded Citizens Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Citigroup downgraded Citizens Financial Group from a “buy” rating to a “hold” rating in a research report on Monday, July 6th. UBS Group lifted their price objective on Citizens Financial Group from $75.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Citizens Financial Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.60.

Citizens Financial Group Trading Up 1.2%

CFG stock opened at $71.16 on Wednesday. The company has a market capitalization of $30.09 billion, a PE ratio of 16.82, a P/E/G ratio of 0.58 and a beta of 0.67. Citizens Financial Group has a 12 month low of $45.90 and a 12 month high of $72.94. The firm’s 50-day moving average is $66.04 and its 200 day moving average is $63.43. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.85 and a quick ratio of 0.84.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.16 billion. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. On average, research analysts anticipate that Citizens Financial Group will post 5.22 EPS for the current year.

Insider Activity

In related news, insider Michelle Moosally sold 6,050 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total transaction of $376,068.00. Following the completion of the transaction, the insider owned 22,565 shares in the company, valued at $1,402,640.40. The trade was a 21.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.67% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Citizens Financial Group during the fourth quarter valued at $355,909,000. AQR Capital Management LLC grew its position in shares of Citizens Financial Group by 56.9% in the fourth quarter. AQR Capital Management LLC now owns 7,722,559 shares of the bank’s stock valued at $451,075,000 after purchasing an additional 2,799,050 shares during the period. Victory Capital Management Inc. increased its stake in shares of Citizens Financial Group by 89.4% during the fourth quarter. Victory Capital Management Inc. now owns 4,731,592 shares of the bank’s stock worth $276,372,000 after purchasing an additional 2,232,806 shares in the last quarter. Amundi increased its stake in shares of Citizens Financial Group by 136.4% during the fourth quarter. Amundi now owns 3,513,388 shares of the bank’s stock worth $205,217,000 after purchasing an additional 2,027,255 shares in the last quarter. Finally, Capital International Investors raised its position in shares of Citizens Financial Group by 32.3% during the 4th quarter. Capital International Investors now owns 8,000,750 shares of the bank’s stock worth $467,389,000 after purchasing an additional 1,953,372 shares during the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.