Citizens Financial Group, Inc. (NYSE:CFG) Receives $49.32 Average PT from Brokerages

Citizens Financial Group, Inc. (NYSE:CFG) has earned an average rating of “Moderate Buy” from the eighteen analysts that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $49.32.

A number of research analysts recently issued reports on the stock. Citigroup reiterated a “buy” rating and set a $57.00 target price (up previously from $51.00) on shares of Citizens Financial Group in a research report on Wednesday, July 2nd. DA Davidson dropped their target price on shares of Citizens Financial Group from $53.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. UBS Group boosted their target price on shares of Citizens Financial Group from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, May 30th. TD Cowen started coverage on shares of Citizens Financial Group in a research report on Thursday, May 15th. They set a “buy” rating and a $57.00 target price on the stock. Finally, Royal Bank Of Canada lowered their price objective on shares of Citizens Financial Group from $50.00 to $44.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th.

Citizens Financial Group Trading Down 2.5%

CFG opened at $46.66 on Friday. Citizens Financial Group has a fifty-two week low of $32.60 and a fifty-two week high of $49.25. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.85 and a quick ratio of 0.83. The firm has a market capitalization of $20.40 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 0.82 and a beta of 0.76. The company’s 50 day moving average price is $42.49 and its two-hundred day moving average price is $42.33.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, April 16th. The bank reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Citizens Financial Group had a net margin of 12.76% and a return on equity of 6.84%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. As a group, research analysts predict that Citizens Financial Group will post 3.92 earnings per share for the current year.

Citizens Financial Group declared that its Board of Directors has approved a stock repurchase plan on Friday, June 13th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the bank to reacquire up to 8.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Citizens Financial Group

Several institutional investors have recently made changes to their positions in CFG. Ameriflex Group Inc. bought a new stake in Citizens Financial Group during the fourth quarter valued at about $26,000. Grove Bank & Trust boosted its holdings in Citizens Financial Group by 97.1% in the first quarter. Grove Bank & Trust now owns 678 shares of the bank’s stock worth $28,000 after acquiring an additional 334 shares in the last quarter. Investors Research Corp boosted its holdings in Citizens Financial Group by 344.8% in the second quarter. Investors Research Corp now owns 645 shares of the bank’s stock worth $29,000 after acquiring an additional 500 shares in the last quarter. Colonial Trust Co SC boosted its holdings in Citizens Financial Group by 673.0% in the fourth quarter. Colonial Trust Co SC now owns 889 shares of the bank’s stock worth $39,000 after acquiring an additional 774 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in Citizens Financial Group by 143.4% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,076 shares of the bank’s stock worth $44,000 after acquiring an additional 634 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

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.