Citizens Financial Group (NYSE:CFG) Raised to "Overweight" at JPMorgan Chase & Co.

Key Points

• Citizens Financial Group was upgraded from a "neutral" to an "overweight" rating by JPMorgan Chase & Co., with a price target of $52.00, indicating a potential upside of 9.04% from its previous close.
• Other analysts have also issued favorable ratings, with Citigroup raising its target to $60.00, while the consensus rating remains a "Moderate Buy" with a price target of $51.53.
• The bank reported strong quarterly earnings, with $0.92 EPS surpassing estimates, and a revenue increase of 3.8% year-over-year, highlighting its financial growth.

Citizens Financial Group (NYSE:CFG - Get Free Report) was upgraded by investment analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research report issued on Friday,Briefing.com Automated Import reports. The brokerage currently has a $52.00 price target on the bank's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 9.04% from the company's previous close.

Other equities research analysts have also recently issued research reports about the company. Citigroup boosted their price objective on Citizens Financial Group from $57.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Jefferies Financial Group began coverage on shares of Citizens Financial Group in a research report on Wednesday, May 21st. They set a "buy" rating and a $50.00 target price on the stock. Piper Sandler lowered their target price on shares of Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Truist Financial lowered their target price on shares of Citizens Financial Group from $51.00 to $43.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. Finally, Evercore ISI upgraded shares of Citizens Financial Group from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $48.00 to $55.00 in a research report on Friday, July 18th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.53.

Citizens Financial Group Trading Down 2.1%

CFG opened at $47.69 on Friday. Citizens Financial Group has a one year low of $32.60 and a one year high of $49.98. The company has a market cap of $20.85 billion, a P/E ratio of 14.50, a PEG ratio of 0.53 and a beta of 0.76. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.84 and a current ratio of 0.85. The business's 50-day simple moving average is $44.46 and its 200-day simple moving average is $42.73.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The bank reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.04. Citizens Financial Group had a return on equity of 6.94% and a net margin of 13.26%. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the business posted $0.82 EPS. The business's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts expect that Citizens Financial Group will post 3.92 EPS for the current fiscal year.

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

Institutional Trading of Citizens Financial Group

Several hedge funds have recently modified their holdings of the business. Brookstone Capital Management lifted its holdings in shares of Citizens Financial Group by 2.9% in the 2nd quarter. Brookstone Capital Management now owns 7,497 shares of the bank's stock valued at $336,000 after buying an additional 214 shares during the period. Great Valley Advisor Group Inc. lifted its holdings in shares of Citizens Financial Group by 0.6% in the 4th quarter. Great Valley Advisor Group Inc. now owns 39,766 shares of the bank's stock valued at $1,740,000 after buying an additional 224 shares during the period. Lynx Investment Advisory lifted its holdings in shares of Citizens Financial Group by 2.8% in the 2nd quarter. Lynx Investment Advisory now owns 8,961 shares of the bank's stock valued at $401,000 after buying an additional 243 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Citizens Financial Group by 2.4% in the 1st quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank's stock valued at $472,000 after buying an additional 274 shares during the period. Finally, True Wealth Design LLC lifted its holdings in shares of Citizens Financial Group by 10.5% in the 4th quarter. True Wealth Design LLC now owns 2,890 shares of the bank's stock valued at $126,000 after buying an additional 275 shares during the period. 94.90% of the stock is owned by institutional investors and hedge funds.

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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