Citizens Financial Group (NYSE:CFG) Upgraded at Cantor Fitzgerald

Key Points

• Citizens Financial Group has been upgraded to a "strong-buy" rating by Cantor Fitzgerald, reflecting growing investor confidence in the company.
• Analysts have increased the target price for the stock, with Raymond James raising it from $48 to $57, indicating a positive outlook for future performance.
• The company reported quarterly earnings that exceeded expectations with $0.92 earnings per share and a revenue growth of 3.8% year-over-year, showcasing its robust financial health.

Citizens Financial Group (NYSE:CFG - Get Free Report) was upgraded by equities research analysts at Cantor Fitzgerald to a "strong-buy" rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other equities analysts also recently commented on CFG. Raymond James Financial upped their target price on Citizens Financial Group from $48.00 to $57.00 and gave the company a "strong-buy" rating in a research report on Friday, July 18th. Jefferies Financial Group initiated coverage on Citizens Financial Group in a research report on Wednesday, May 21st. They set a "buy" rating and a $50.00 target price for the company. Cowen initiated coverage on Citizens Financial Group in a research report on Wednesday, May 14th. They issued a "buy" rating for the company. Wall Street Zen raised Citizens Financial Group from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Keefe, Bruyette & Woods upgraded Citizens Financial Group from a "market perform" rating to an "outperform" rating and set a $57.00 price target for the company in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Citizens Financial Group has a consensus rating of "Moderate Buy" and a consensus price target of $52.00.

Citizens Financial Group Stock Up 0.3%

NYSE:CFG opened at $51.88 on Tuesday. Citizens Financial Group has a 1 year low of $32.60 and a 1 year high of $52.85. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.54. The stock has a market cap of $22.38 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 0.57 and a beta of 0.80. The stock has a 50-day moving average price of $49.11 and a two-hundred day moving average price of $43.26.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The bank reported $0.92 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $2.01 billion. During the same period in the prior year, the firm earned $0.82 earnings per share. Citizens Financial Group's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities analysts expect that Citizens Financial Group will post 3.92 earnings per share for the current year.

Citizens Financial Group declared that its board has approved a share buyback plan on Friday, June 13th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the bank to reacquire up to 8.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On Citizens Financial Group

A number of large investors have recently added to or reduced their stakes in CFG. Norges Bank purchased a new position in Citizens Financial Group during the 2nd quarter valued at about $253,423,000. AustralianSuper Pty Ltd bought a new stake in shares of Citizens Financial Group in the 1st quarter worth approximately $108,864,000. HoldCo Asset Management LP bought a new position in Citizens Financial Group in the 2nd quarter valued at approximately $93,361,000. Marshall Wace LLP bought a new position in Citizens Financial Group in the 2nd quarter valued at approximately $67,492,000. Finally, Assetmark Inc. lifted its position in Citizens Financial Group by 11,167.0% in the 1st quarter. Assetmark Inc. now owns 1,347,537 shares of the bank's stock valued at $55,209,000 after acquiring an additional 1,335,577 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

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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