Citizens Financial Group (NYSE:CFG) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Citizens Financial Group (NYSE:CFG) had its target price boosted by stock analysts at Morgan Stanley from $73.00 to $80.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. Morgan Stanley’s price objective points to a potential upside of 34.25% from the stock’s previous close.

Several other brokerages also recently issued reports on CFG. Bank of America raised their price target on Citizens Financial Group from $70.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Truist Financial raised their price objective on shares of Citizens Financial Group from $63.00 to $71.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Robert W. Baird reiterated a “neutral” rating and set a $60.00 price objective on shares of Citizens Financial Group in a research note on Thursday, December 11th. DA Davidson increased their price target on Citizens Financial Group from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, Barclays set a $77.00 target price on shares of Citizens Financial Group and gave the stock an “overweight” rating in a research report on Monday, January 5th. Nineteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Citizens Financial Group has an average rating of “Moderate Buy” and a consensus price target of $69.73.

Citizens Financial Group Stock Performance

CFG stock opened at $59.59 on Monday. The company has a market capitalization of $25.32 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 0.50 and a beta of 0.70. Citizens Financial Group has a 12 month low of $32.60 and a 12 month high of $68.79. The firm has a 50 day moving average of $62.57 and a two-hundred day moving average of $56.20. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.46.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.02. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Citizens Financial Group had a return on equity of 7.81% and a net margin of 15.19%.The business’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $0.85 earnings per share. As a group, equities analysts anticipate that Citizens Financial Group will post 3.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Citizens Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CFG. NewEdge Advisors LLC boosted its position in Citizens Financial Group by 2.4% during the 1st quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock worth $472,000 after acquiring an additional 274 shares during the last quarter. Empowered Funds LLC raised its position in shares of Citizens Financial Group by 6.7% in the first quarter. Empowered Funds LLC now owns 8,838 shares of the bank’s stock valued at $362,000 after purchasing an additional 554 shares during the period. Woodline Partners LP raised its holdings in Citizens Financial Group by 39.5% in the 1st quarter. Woodline Partners LP now owns 36,932 shares of the bank’s stock valued at $1,513,000 after acquiring an additional 10,466 shares during the period. Sivia Capital Partners LLC increased its stake in shares of Citizens Financial Group by 93.4% during the second quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank’s stock worth $439,000 after purchasing an additional 4,739 shares during the period. Finally, Pinnacle Associates Ltd. boosted its position in shares of Citizens Financial Group by 78.7% in the second quarter. Pinnacle Associates Ltd. now owns 19,735 shares of the bank’s stock valued at $883,000 after acquiring an additional 8,693 shares during the period. 94.90% of the stock is owned by institutional investors and hedge funds.

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.