Citizens Financial Group (NYSE:CFG) Raised to Outperform at Robert W. Baird

Key Points

• Robert W. Baird upgraded Citizens Financial Group from "neutral" to "outperform" and set a $65 price target, implying roughly 11.93% upside from the current price.
• Market sentiment is broadly positive—20 analysts rate the stock as Buy and one as Hold, giving an average price target of $69.95 (consensus "Moderate Buy") after recent target increases from major firms.
• Shares opened at $58.07 (down ~2.5%); the bank posted an EPS beat ($1.13 vs. $1.11) with revenue up 8.6% year-over-year and analysts forecasting 3.92 EPS for the year.

Citizens Financial Group (NYSE:CFG - Get Free Report) was upgraded by equities researchers at Robert W. Baird from a "neutral" rating to an "outperform" rating in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a $65.00 target price on the bank's stock. Robert W. Baird's price objective would indicate a potential upside of 11.93% from the company's current price.

A number of other equities analysts also recently commented on the company. Morgan Stanley raised their price objective on Citizens Financial Group from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Monday, March 2nd. JPMorgan Chase & Co. boosted their target price on Citizens Financial Group from $62.50 to $71.00 and gave the stock an "overweight" rating in a report on Monday, February 9th. Cantor Fitzgerald restated an "overweight" rating and issued a $75.00 price target on shares of Citizens Financial Group in a report on Tuesday, March 3rd. Royal Bank Of Canada lifted their price target on shares of Citizens Financial Group from $60.00 to $67.00 and gave the company an "outperform" rating in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $80.00 price objective on shares of Citizens Financial Group in a research note on Wednesday, January 21st. Twenty equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Citizens Financial Group presently has an average rating of "Moderate Buy" and an average price target of $69.95.

Citizens Financial Group Stock Down 2.5%

Shares of CFG opened at $58.07 on Monday. The firm has a market cap of $24.68 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 0.47 and a beta of 0.70. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.46. The company's fifty day moving average is $62.53 and its two-hundred day moving average is $56.43. Citizens Financial Group has a fifty-two week low of $32.60 and a fifty-two week high of $68.79.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.02. Citizens Financial Group had a return on equity of 7.81% and a net margin of 15.19%.The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the company posted $0.85 EPS. The business's quarterly revenue was up 8.6% on a year-over-year basis. Analysts forecast that Citizens Financial Group will post 3.92 earnings per share for the current year.

Hedge Funds Weigh In On Citizens Financial Group

A number of institutional investors and hedge funds have recently bought and sold shares of CFG. NewEdge Advisors LLC grew its holdings in Citizens Financial Group by 2.4% during the 1st quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank's stock valued at $472,000 after purchasing an additional 274 shares in the last quarter. Empowered Funds LLC boosted its position in Citizens Financial Group by 6.7% in the 1st quarter. Empowered Funds LLC now owns 8,838 shares of the bank's stock valued at $362,000 after buying an additional 554 shares during the last quarter. Woodline Partners LP grew its stake in shares of Citizens Financial Group by 39.5% during the first quarter. Woodline Partners LP now owns 36,932 shares of the bank's stock valued at $1,513,000 after acquiring an additional 10,466 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of Citizens Financial Group by 93.4% during the second quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank's stock worth $439,000 after acquiring an additional 4,739 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its stake in shares of Citizens Financial Group by 5.9% in the second quarter. Resona Asset Management Co. Ltd. now owns 150,966 shares of the bank's stock worth $6,748,000 after acquiring an additional 8,380 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc NYSE: CFG is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.

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