Citizens Financial Group (NYSE:CFG) Upgraded at Citigroup

Citizens Financial Group (NYSE:CFG) was upgraded by analysts at Citigroup from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Citizens Financial Group from $73.00 to $79.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Evercore reaffirmed an “outperform” rating and issued a $80.00 price objective on shares of Citizens Financial Group in a research report on Monday, July 6th. Truist Financial upped their target price on shares of Citizens Financial Group from $69.00 to $72.00 and gave the stock a “hold” rating in a research note on Wednesday, June 24th. Royal Bank Of Canada increased their target price on Citizens Financial Group from $70.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Keefe, Bruyette & Woods lifted their price target on Citizens Financial Group from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $78.15.

Citizens Financial Group Trading Down 1.2%

NYSE CFG opened at $71.55 on Monday. Citizens Financial Group has a one year low of $45.90 and a one year high of $74.70. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market cap of $30.26 billion, a P/E ratio of 15.52, a P/E/G ratio of 0.60 and a beta of 0.67. The stock’s 50-day moving average is $66.61 and its 200-day moving average is $63.71.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.05. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the previous year, the firm earned $0.92 EPS. Citizens Financial Group’s quarterly revenue was up 12.1% compared to the same quarter last year. Sell-side analysts anticipate that Citizens Financial Group will post 5.25 earnings per share for the current fiscal year.

Insider Activity at Citizens Financial Group

In related news, insider Michelle Moosally sold 6,050 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total transaction of $376,068.00. Following the completion of the transaction, the insider owned 22,565 shares in the company, valued at approximately $1,402,640.40. This represents a 21.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.67% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Citizens Financial Group

Large investors have recently modified their holdings of the business. NewEdge Advisors LLC boosted its position in Citizens Financial Group by 2.4% during the first quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock valued at $472,000 after purchasing an additional 274 shares during the last quarter. Empowered Funds LLC increased its position in shares of Citizens Financial Group by 6.7% during the 1st quarter. Empowered Funds LLC now owns 8,838 shares of the bank’s stock worth $362,000 after purchasing an additional 554 shares during the last quarter. Woodline Partners LP raised its stake in shares of Citizens Financial Group by 39.5% during the 1st quarter. Woodline Partners LP now owns 36,932 shares of the bank’s stock worth $1,513,000 after purchasing an additional 10,466 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of Citizens Financial Group by 93.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank’s stock worth $439,000 after purchasing an additional 4,739 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Citizens Financial Group by 5.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 65,564 shares of the bank’s stock valued at $2,934,000 after buying an additional 3,225 shares during the last quarter. 94.90% of the stock is currently 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.