Citizens Financial Group (NYSE:CFG) Earns Strong-Buy Rating from Raymond James

Citizens Financial Group (NYSE:CFG)‘s stock had its “strong-buy” rating restated by investment analysts at Raymond James in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $48.00 price objective on the bank’s stock, down from their previous price objective of $58.00. Raymond James’ price objective would indicate a potential upside of 33.74% from the company’s previous close.

Other research analysts also recently issued reports about the company. Truist Financial lowered their price objective on Citizens Financial Group from $51.00 to $43.00 and set a “hold” rating for the company in a research note on Thursday. Piper Sandler dropped their price objective on shares of Citizens Financial Group from $48.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday. JPMorgan Chase & Co. reduced their target price on shares of Citizens Financial Group from $49.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Morgan Stanley decreased their target price on shares of Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Finally, DA Davidson reduced their price objective on Citizens Financial Group from $53.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.72.

Citizens Financial Group Stock Performance

Shares of CFG stock traded up $0.43 on Thursday, hitting $35.89. 2,045,877 shares of the stock traded hands, compared to its average volume of 4,797,688. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. Citizens Financial Group has a 1-year low of $32.60 and a 1-year high of $49.25. The company’s fifty day moving average is $41.36 and its 200 day moving average is $43.66. The company has a market capitalization of $15.69 billion, a PE ratio of 11.81, a PEG ratio of 0.81 and a beta of 0.81.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, April 16th. The bank reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. On average, equities research analysts predict that Citizens Financial Group will post 3.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CFG. Capital World Investors lifted its position in Citizens Financial Group by 3.3% in the 4th quarter. Capital World Investors now owns 35,900,115 shares of the bank’s stock worth $1,570,989,000 after buying an additional 1,131,838 shares in the last quarter. Geode Capital Management LLC increased its holdings in Citizens Financial Group by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 10,929,591 shares of the bank’s stock worth $477,043,000 after buying an additional 124,860 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Citizens Financial Group by 27.8% during the 4th quarter. Wellington Management Group LLP now owns 10,570,083 shares of the bank’s stock worth $462,547,000 after purchasing an additional 2,298,040 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in Citizens Financial Group by 20.9% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 9,683,111 shares of the bank’s stock worth $423,733,000 after purchasing an additional 1,672,204 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Citizens Financial Group by 6.4% in the fourth quarter. Royal Bank of Canada now owns 6,247,238 shares of the bank’s stock worth $273,378,000 after buying an additional 374,850 shares during the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

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.