Goldman Sachs Group Upgrades Citizens Financial Group (CFG) to “Buy”

Goldman Sachs Group upgraded shares of Citizens Financial Group (NYSE:CFG) to a buy rating in a research report released on Monday morning, The Fly reports. They currently have $40.00 target price on the bank’s stock, down from their prior target price of $44.00.

CFG has been the topic of a number of other reports. Morgan Stanley lowered their target price on Citizens Financial Group from $48.00 to $44.00 and set an overweight rating on the stock in a research note on Tuesday, December 11th. Zacks Investment Research upgraded Citizens Financial Group from a sell rating to a hold rating in a research note on Tuesday, October 9th. ValuEngine cut Citizens Financial Group from a hold rating to a sell rating in a research note on Thursday, September 27th. Macquarie upgraded Citizens Financial Group from a neutral rating to an outperform rating in a research note on Tuesday, November 27th. Finally, Credit Suisse Group lowered their target price on Citizens Financial Group from $46.00 to $42.00 and set a neutral rating on the stock in a research note on Friday, December 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Citizens Financial Group presently has a consensus rating of Buy and a consensus target price of $41.46.

CFG opened at $32.24 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.98 and a debt-to-equity ratio of 0.79. The firm has a market cap of $15.17 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 0.54 and a beta of 1.37. Citizens Financial Group has a 1 year low of $27.62 and a 1 year high of $48.23.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, October 19th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.03. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.56 billion. Citizens Financial Group had a net margin of 27.12% and a return on equity of 8.11%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 EPS. On average, analysts expect that Citizens Financial Group will post 3.52 EPS for the current fiscal year.

In other news, Director Shivan S. Subramaniam acquired 3,000 shares of the stock in a transaction that occurred on Wednesday, November 21st. The shares were acquired at an average cost of $35.32 per share, for a total transaction of $105,960.00. Following the purchase, the director now owns 38,963 shares of the company’s stock, valued at approximately $1,376,173.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles John Koch acquired 14,000 shares of the stock in a transaction that occurred on Tuesday, October 23rd. The stock was purchased at an average price of $36.32 per share, for a total transaction of $508,480.00. Following the completion of the purchase, the director now directly owns 49,937 shares in the company, valued at approximately $1,813,711.84. The disclosure for this purchase can be found here. Insiders own 0.22% of the company’s stock.

A number of institutional investors have recently made changes to their positions in CFG. TRUE Private Wealth Advisors bought a new stake in shares of Citizens Financial Group during the third quarter valued at about $113,000. Synovus Financial Corp increased its position in shares of Citizens Financial Group by 67.3% during the third quarter. Synovus Financial Corp now owns 3,524 shares of the bank’s stock valued at $137,000 after buying an additional 1,417 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Citizens Financial Group during the third quarter valued at about $158,000. Csenge Advisory Group bought a new stake in shares of Citizens Financial Group during the third quarter valued at about $172,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Citizens Financial Group by 80.9% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,091 shares of the bank’s stock valued at $196,000 after buying an additional 2,276 shares during the period. Institutional investors and hedge funds own 96.05% of the company’s stock.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

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Analyst Recommendations for Citizens Financial Group (NYSE:CFG)

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