Citizens Financial Group (NYSE:CFG) Reaches New 52-Week High on Earnings Beat

Key Points

• Citizens Financial Group hit a new 52-week high after reporting stronger-than-expected quarterly results, with EPS of $1.30 beating estimates of $1.25. Revenue also rose 12.1% year over year, helping lift the stock as high as $74.63.
• Analysts remain broadly positive on CFG, with several firms raising price targets and the consensus view sitting at Moderate Buy. MarketBeat data shows a consensus price target of $74.60, close to the stock’s recent trading level.
• The stock has also seen notable institutional ownership and some insider selling, including a May sale by insider Michelle Moosally. Institutional investors own 94.90% of the company’s shares, while insiders hold just 0.67%.

Citizens Financial Group, Inc. (NYSE:CFG - Get Free Report)'s share price reached a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as $74.63 and last traded at $74.2280, with a volume of 1482379 shares traded. The stock had previously closed at $71.12.

The bank reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.05. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The business's quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 earnings per share.

Analysts Set New Price Targets

CFG has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Citizens Financial Group from $68.50 to $76.00 and gave the company an "overweight" rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods upped their price objective on shares of Citizens Financial Group from $70.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, April 17th. Weiss Ratings raised shares of Citizens Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 6th. Citigroup lowered shares of Citizens Financial Group from a "buy" rating to a "hold" rating in a report on Monday, July 6th. Finally, Royal Bank Of Canada boosted their price target on Citizens Financial Group from $67.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, April 17th. Sixteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.60.

Insider Transactions at Citizens Financial Group

In related news, insider Michelle Moosally sold 6,050 shares of the company's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total value of $376,068.00. Following the transaction, the insider owned 22,565 shares in the company, valued at $1,402,640.40. The trade was a 21.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.67% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CFG. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Citizens Financial Group during the fourth quarter valued at approximately $26,000. Cedar Mountain Advisors LLC bought a new position in Citizens Financial Group in the 1st quarter valued at approximately $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Citizens Financial Group in the 4th quarter valued at approximately $29,000. Activest Wealth Management boosted its stake in Citizens Financial Group by 5,600.0% during the 4th quarter. Activest Wealth Management now owns 513 shares of the bank's stock valued at $30,000 after purchasing an additional 504 shares during the last quarter. Finally, Elevation Wealth Partners LLC increased its holdings in shares of Citizens Financial Group by 319.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank's stock worth $30,000 after purchasing an additional 323 shares in the last quarter. Institutional investors own 94.90% of the company's stock.

Citizens Financial Group Trading Up 3.7%

The stock has a fifty day simple moving average of $66.04 and a 200 day simple moving average of $63.43. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.84 and a current ratio of 0.85. The firm has a market cap of $31.19 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 0.58 and a beta of 0.67.

About Citizens Financial Group

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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