Citigroup Forecasts Strong Price Appreciation for Citizens Financial Group (NYSE:CFG) Stock

Citizens Financial Group (NYSE:CFG - Get Free Report) had its price objective lifted by equities research analysts at Citigroup from $57.00 to $60.00 in a report released on Monday,Benzinga reports. The firm currently has a "buy" rating on the bank's stock. Citigroup's target price suggests a potential upside of 22.08% from the company's current price.

CFG has been the topic of several other reports. Stephens lowered their target price on shares of Citizens Financial Group from $53.00 to $48.00 and set an "outperform" rating on the stock in a research note on Monday, April 7th. Piper Sandler cut their price target on Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Keefe, Bruyette & Woods upgraded Citizens Financial Group from a "market perform" rating to an "outperform" rating and set a $57.00 price target for the company in a research note on Wednesday, July 9th. Truist Financial cut their price target on Citizens Financial Group from $51.00 to $43.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. Finally, UBS Group lifted their price target on Citizens Financial Group from $50.00 to $53.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $51.05.

Citizens Financial Group Stock Performance

Shares of NYSE:CFG traded up $0.57 during trading on Monday, hitting $49.15. The stock had a trading volume of 1,089,305 shares, compared to its average volume of 4,828,278. Citizens Financial Group has a 12-month low of $32.60 and a 12-month high of $49.68. The stock has a market capitalization of $21.48 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 0.83 and a beta of 0.76. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.54. The stock has a 50-day simple moving average of $43.05 and a two-hundred day simple moving average of $42.41.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. The firm had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $2.01 billion. Citizens Financial Group had a return on equity of 6.94% and a net margin of 13.26%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $0.82 earnings per share. On average, equities research analysts expect that Citizens Financial Group will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group announced that its board has authorized a stock buyback plan on Friday, June 13th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the bank to repurchase up to 8.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

Institutional Trading of Citizens Financial Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Ameriflex Group Inc. acquired a new position in Citizens Financial Group in the fourth quarter valued at $26,000. Grove Bank & Trust raised its stake in Citizens Financial Group by 97.1% during the 1st quarter. Grove Bank & Trust now owns 678 shares of the bank's stock valued at $28,000 after acquiring an additional 334 shares during the last quarter. Investors Research Corp raised its stake in Citizens Financial Group by 344.8% during the 2nd quarter. Investors Research Corp now owns 645 shares of the bank's stock valued at $29,000 after acquiring an additional 500 shares during the last quarter. Trust Co. of Vermont raised its stake in Citizens Financial Group by 177.5% during the 2nd quarter. Trust Co. of Vermont now owns 641 shares of the bank's stock valued at $29,000 after acquiring an additional 410 shares during the last quarter. Finally, Colonial Trust Co SC raised its stake in Citizens Financial Group by 673.0% during the 4th quarter. Colonial Trust Co SC now owns 889 shares of the bank's stock valued at $39,000 after acquiring an additional 774 shares during the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.

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.

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