Citizens Financial Group (NYSE:CFG) Price Target Raised to $62.00 at UBS Group

Key Points

• Citizens Financial Group's price target was raised by UBS Group from $57.00 to $62.00, indicating a potential upside of 16.49% from its previous close.
• In addition to UBS, various brokerages have recently updated their ratings, with most analysts giving Citizens Financial Group an average rating of "Moderate Buy".
• The company reported a quarterly earnings per share of $0.92, exceeding estimates and showcasing a 3.8% increase in revenue compared to the previous year.

Citizens Financial Group (NYSE:CFG - Get Free Report) had its price objective increased by stock analysts at UBS Group from $57.00 to $62.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the bank's stock. UBS Group's price objective indicates a potential upside of 16.49% from the stock's previous close.

Several other brokerages have also recently issued reports on CFG. Wells Fargo & Company set a $57.00 target price on shares of Citizens Financial Group in a report on Wednesday, July 2nd. Evercore ISI raised their price target on shares of Citizens Financial Group from $57.00 to $61.00 and gave the stock an "outperform" rating in a report on Tuesday, September 30th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Citizens Financial Group in a research note on Saturday, September 27th. Wall Street Zen raised Citizens Financial Group from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Keefe, Bruyette & Woods upgraded Citizens Financial Group from a "market perform" rating to an "outperform" rating and set a $57.00 price target on the stock in a report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $55.40.

Citizens Financial Group Trading Down 1.4%

Shares of NYSE:CFG traded down $0.78 on Tuesday, reaching $53.22. 1,884,033 shares of the company traded hands, compared to its average volume of 4,693,967. The stock has a market capitalization of $22.96 billion, a P/E ratio of 16.18, a price-to-earnings-growth ratio of 0.59 and a beta of 0.79. The business's 50-day simple moving average is $50.78 and its 200 day simple moving average is $44.59. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.54. Citizens Financial Group has a 52 week low of $32.60 and a 52 week high of $55.24.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its earnings results on Thursday, July 17th. The bank reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04. The company 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%.Citizens Financial Group's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.82 EPS. As a group, equities analysts anticipate that Citizens Financial Group will post 3.92 EPS for the current fiscal year.

Citizens Financial Group declared that its board has approved a share buyback plan on Friday, June 13th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the bank to buy up to 8.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On Citizens Financial Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CFG. Grove Bank & Trust lifted its position in Citizens Financial Group by 97.1% during the first quarter. Grove Bank & Trust now owns 678 shares of the bank's stock valued at $28,000 after buying an additional 334 shares during the period. Investors Research Corp boosted its stake in 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 acquiring an additional 500 shares in the last quarter. Trust Co. of Vermont grew its holdings in Citizens Financial Group by 177.5% in the second quarter. Trust Co. of Vermont now owns 641 shares of the bank's stock worth $29,000 after purchasing an additional 410 shares during the period. GoalVest Advisory LLC increased its stake 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 valued at $30,000 after purchasing an additional 676 shares in the last quarter. 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 valued at $33,000 after purchasing an additional 309 shares during the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.

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.

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