Citizens Financial Group (NYSE:CFG) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase raised its price target on Citizens Financial Group from $68.50 to $76.00 and kept an overweight rating, implying about 7.1% upside from the prior close.
• Other analysts have also turned more positive on CFG, with multiple firms lifting targets; overall, the stock now carries a Moderate Buy consensus and an average target price of $73.10.
• Citizens Financial Group recently reported Q1 earnings of $1.13 per share, beating estimates, while revenue rose 12% year over year to $2.17 billion.

Citizens Financial Group (NYSE:CFG - Get Free Report) had its price target upped by equities research analysts at JPMorgan Chase & Co. from $68.50 to $76.00 in a report released on Monday,Benzinga reports. The firm currently has an "overweight" rating on the bank's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 7.10% from the company's previous close.

CFG has been the subject of a number of other research reports. Royal Bank Of Canada upped 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. Truist Financial lifted their price objective on Citizens Financial Group from $69.00 to $72.00 and gave the company a "hold" rating in a research report on Wednesday, June 24th. Morgan Stanley boosted their price objective on Citizens Financial Group from $73.00 to $79.00 and gave the company an "overweight" rating in a research note on Monday, June 29th. Weiss Ratings raised shares of Citizens Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. Finally, Robert W. Baird restated a "neutral" rating and set a $72.00 target price on shares of Citizens Financial Group in a research note on Monday. Sixteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $73.10.

Citizens Financial Group Trading Down 0.0%

Shares of Citizens Financial Group stock opened at $70.97 on Monday. Citizens Financial Group has a 1-year low of $45.90 and a 1-year high of $72.46. The company's fifty day simple moving average is $65.12 and its 200-day simple moving average is $62.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.85 and a quick ratio of 0.84. The stock has a market capitalization of $30.01 billion, a PE ratio of 16.78, a P/E/G ratio of 0.56 and a beta of 0.67.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 EPS for the quarter, topping the consensus estimate of $1.10 by $0.03. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the business posted $0.77 EPS. Citizens Financial Group's revenue was up 12.0% on a year-over-year basis. As a group, equities analysts anticipate that Citizens Financial Group will post 5.2 earnings per share for the current year.

Insider Activity

In other news, insider Michelle Moosally sold 6,050 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total transaction of $376,068.00. Following the sale, the insider directly owned 22,565 shares of the company's stock, valued at $1,402,640.40. This represents a 21.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On Citizens Financial Group

A number of hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC increased 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 worth $472,000 after buying an additional 274 shares during the last quarter. Empowered Funds LLC grew its position in Citizens Financial Group by 6.7% in the first quarter. Empowered Funds LLC now owns 8,838 shares of the bank's stock worth $362,000 after acquiring an additional 554 shares in the last quarter. Woodline Partners LP increased its stake in Citizens Financial Group by 39.5% during the first quarter. Woodline Partners LP now owns 36,932 shares of the bank's stock worth $1,513,000 after acquiring an additional 10,466 shares during the last quarter. Sivia Capital Partners LLC raised its position in Citizens Financial Group by 93.4% during the second quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank's stock valued at $439,000 after purchasing an additional 4,739 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in Citizens Financial Group by 5.2% during the second quarter. Daiwa Securities Group Inc. now owns 65,564 shares of the bank's stock valued at $2,934,000 after purchasing an additional 3,225 shares during the period. 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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