Citizens Financial Group (NYSE:CFG) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Key Points

• Cantor Fitzgerald raised Citizens Financial Group’s price target to $84 from $80 and maintained an “overweight” rating, implying 14.36% potential upside. Analysts overall assign the stock a “Moderate Buy” consensus rating with a $79.25 target.
• Citizens Financial Group reported quarterly EPS of $1.30, beating estimates by $0.05, while revenue reached $2.28 billion and increased 12.1% year over year.
• The stock opened at $73.45, near its 12-month high of $75.33. CEO Saun Bruce Van sold 129,369 shares, while institutional investors and hedge funds own 94.9% of the company.

Citizens Financial Group (NYSE:CFG - Get Free Report) had its price objective increased by investment analysts at Cantor Fitzgerald from $80.00 to $84.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the bank's stock. Cantor Fitzgerald's price objective would suggest a potential upside of 14.36% from the stock's current price.

A number of other equities research analysts also recently commented on CFG. Evercore reissued an "outperform" rating and issued a $80.00 price objective on shares of Citizens Financial Group in a research report on Monday, July 6th. JPMorgan Chase & Co. boosted their target price on shares of Citizens Financial Group from $76.00 to $78.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods boosted their target price on shares of Citizens Financial Group from $75.00 to $90.00 and gave the stock an "outperform" rating in a research note on Friday, July 17th. Barclays increased their target price on Citizens Financial Group from $77.00 to $81.00 and gave the company an "overweight" rating in a report on Friday, July 17th. Finally, DA Davidson reaffirmed a "neutral" rating on shares of Citizens Financial Group in a report on Friday. Sixteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $79.25.

Citizens Financial Group Stock Down 1.2%

Citizens Financial Group stock opened at $73.45 on Wednesday. The firm has a market capitalization of $30.94 billion, a P/E ratio of 15.93, a P/E/G ratio of 0.57 and a beta of 0.67. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. Citizens Financial Group has a twelve month low of $47.96 and a twelve month high of $75.33. The stock's fifty day simple moving average is $70.92 and its 200-day simple moving average is $65.43.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.05. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.25 billion. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.Citizens Financial Group's revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business posted $0.92 earnings per share. As a group, equities analysts expect that Citizens Financial Group will post 5.3 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Saun Bruce Van sold 129,369 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $72.07, for a total value of $9,323,623.83. Following the transaction, the chief executive officer directly owned 1,140,763 shares of the company's stock, valued at $82,214,789.41. This trade represents a 10.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.67% of the company's stock.

Institutional Investors Weigh In On Citizens Financial Group

Several large investors have recently modified their holdings of CFG. Archer Investment Corp purchased a new position in shares of Citizens Financial Group during the second quarter worth approximately $946,000. Beacon Pointe Advisors LLC purchased a new stake in Citizens Financial Group in the 2nd quarter valued at $502,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Citizens Financial Group in the 2nd quarter valued at $224,000. Rakuten Investment Management Inc. acquired a new stake in Citizens Financial Group during the 2nd quarter worth $4,880,000. Finally, Orion Capital Management LLC purchased a new position in Citizens Financial Group during the 2nd quarter worth $314,000. 94.90% of the stock is owned by institutional investors and hedge funds.

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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