Citizens Financial Group (NYSE:CFG) Given New $56.00 Price Target at Barclays

Key Points

• Barclays increased its price target for Citizens Financial Group from $55.00 to $56.00, suggesting an 8.38% potential upside from its previous close.
• Citizens Financial reported $1.05 earnings per share for the most recent quarter, exceeding expectations of $1.03, and saw a revenue increase of 11.4% year-over-year.
• Current analyst ratings for Citizens Financial include two Strong Buy, sixteen Buy, and three Hold ratings, indicating a consensus price target of approximately $55.90.

Citizens Financial Group (NYSE:CFG - Get Free Report) had its target price upped by research analysts at Barclays from $55.00 to $56.00 in a report released on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the bank's stock. Barclays's price target would indicate a potential upside of 8.38% from the company's previous close.

CFG has been the topic of several other research reports. Wall Street Zen raised shares of Citizens Financial Group from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Wells Fargo & Company set a $57.00 price target on Citizens Financial Group in a report on Wednesday, July 2nd. UBS Group upped their price target on Citizens Financial Group from $57.00 to $62.00 and gave the company a "buy" rating in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Citizens Financial Group in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods raised Citizens Financial Group from a "market perform" rating to an "outperform" rating and set a $57.00 price target for the company in a report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Citizens Financial Group has an average rating of "Moderate Buy" and a consensus price target of $55.90.

Citizens Financial Group Stock Down 0.2%

Shares of NYSE:CFG opened at $51.67 on Thursday. The firm's 50 day moving average price is $51.29 and its 200 day moving average price is $45.02. The stock has a market cap of $22.29 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 0.58 and a beta of 0.79. Citizens Financial Group has a fifty-two week low of $32.60 and a fifty-two week high of $55.24. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.54.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its earnings results on Wednesday, October 15th. The bank reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.02. The firm had revenue of $2.12 billion for the quarter, compared to analysts' expectations of $2.10 billion. Citizens Financial Group had a net margin of 13.26% and a return on equity of 6.94%. The firm's revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 earnings per share. As a group, equities research analysts predict that Citizens Financial Group will post 3.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Citizens Financial Group

Hedge funds have recently modified their holdings of the business. Trust Co. of Vermont grew its position in shares of Citizens Financial Group by 177.5% during the second quarter. Trust Co. of Vermont now owns 641 shares of the bank's stock worth $29,000 after acquiring an additional 410 shares during the last quarter. Investors Research Corp lifted its holdings in shares of Citizens Financial Group by 344.8% during the second quarter. Investors Research Corp now owns 645 shares of the bank's stock worth $29,000 after purchasing an additional 500 shares during the period. Grove Bank & Trust lifted its holdings in shares of Citizens Financial Group by 97.1% during the first quarter. Grove Bank & Trust now owns 678 shares of the bank's stock worth $28,000 after purchasing an additional 334 shares during the period. GoalVest Advisory LLC lifted its holdings in shares of Citizens Financial Group by 16,900.0% during the second quarter. GoalVest Advisory LLC now owns 680 shares of the bank's stock worth $30,000 after purchasing an additional 676 shares during the period. Finally, REAP Financial Group LLC lifted its holdings in shares of Citizens Financial Group by 72.4% during the second quarter. REAP Financial Group LLC now owns 736 shares of the bank's stock worth $33,000 after purchasing an additional 309 shares during the period. 94.90% of the stock is currently 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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