Citizens Financial Group’s (CFG) “Strong-Buy” Rating Reaffirmed at Raymond James

Citizens Financial Group (NYSE:CFG)‘s stock had its “strong-buy” rating reaffirmed by investment analysts at Raymond James in a research note issued on Tuesday,Benzinga reports. They currently have a $58.00 target price on the bank’s stock, up from their previous target price of $55.00. Raymond James’ price target would suggest a potential upside of 19.99% from the stock’s current price.

Other research analysts also recently issued research reports about the company. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Truist Financial began coverage on Citizens Financial Group in a research note on Tuesday, January 7th. They set a “hold” rating and a $49.00 price objective on the stock. Citigroup raised their price objective on Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Piper Sandler raised their price objective on Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Compass Point raised their price objective on Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.39.

Citizens Financial Group Price Performance

NYSE CFG traded up $0.80 during trading hours on Tuesday, reaching $48.34. 1,281,858 shares of the company’s stock were exchanged, compared to its average volume of 3,813,867. The stock has a market cap of $21.30 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. Citizens Financial Group has a one year low of $30.24 and a one year high of $49.25. The firm has a fifty day moving average of $45.66 and a 200-day moving average of $42.79. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1,962,330 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. Citizens Financial Group’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 EPS. On average, equities research analysts predict that Citizens Financial Group will post 3.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Citizens Financial Group

Hedge funds have recently bought and sold shares of the stock. Sound Income Strategies LLC raised its position in shares of Citizens Financial Group by 979,522.7% in the fourth quarter. Sound Income Strategies LLC now owns 215,517 shares of the bank’s stock valued at $9,431,000 after buying an additional 215,495 shares in the last quarter. Donoghue Forlines LLC acquired a new stake in shares of Citizens Financial Group in the fourth quarter valued at approximately $1,485,000. SG Americas Securities LLC raised its position in shares of Citizens Financial Group by 1,073.9% in the fourth quarter. SG Americas Securities LLC now owns 332,912 shares of the bank’s stock valued at $14,568,000 after buying an additional 304,553 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Citizens Financial Group by 4.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 62,662 shares of the bank’s stock valued at $2,742,000 after buying an additional 2,950 shares in the last quarter. Finally, Simon Quick Advisors LLC acquired a new stake in shares of Citizens Financial Group in the fourth quarter valued at approximately $224,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.

About Citizens Financial Group

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.