Citizens Financial Group (NYSE:CFG) Rating Increased to Overweight at Piper Sandler

Citizens Financial Group (NYSE:CFG) was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued on Friday, Marketbeat Ratings reports. The firm currently has a $41.00 price objective on the bank’s stock, up from their prior price objective of $35.00. Piper Sandler’s target price points to a potential upside of 16.64% from the stock’s previous close.

Several other brokerages also recently weighed in on CFG. Royal Bank of Canada increased their price target on Citizens Financial Group from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. Morgan Stanley increased their price target on Citizens Financial Group from $31.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Barclays downgraded Citizens Financial Group from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $38.00 to $40.00 in a report on Tuesday, January 2nd. UBS Group increased their price target on Citizens Financial Group from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, Argus increased their price target on Citizens Financial Group from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $37.13.

Citizens Financial Group Price Performance

NYSE:CFG opened at $35.15 on Friday. The firm has a market capitalization of $16.11 billion, a price-to-earnings ratio of 12.74 and a beta of 1.38. Citizens Financial Group has a 1 year low of $22.77 and a 1 year high of $36.38. The business has a 50 day simple moving average of $33.68 and a 200-day simple moving average of $30.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.10). The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.96 billion. Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. Citizens Financial Group’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 earnings per share. Equities analysts forecast that Citizens Financial Group will post 3.24 EPS for the current year.

Insider Buying and Selling at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 4,508 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $33.54, for a total transaction of $151,198.32. Following the sale, the insider now owns 43,885 shares of the company’s stock, valued at approximately $1,471,902.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.62% of the company’s stock.

Institutional Trading of Citizens Financial Group

Several hedge funds and other institutional investors have recently bought and sold shares of CFG. Wellington Management Group LLP boosted its position in Citizens Financial Group by 217.5% during the 3rd quarter. Wellington Management Group LLP now owns 7,978,410 shares of the bank’s stock valued at $213,821,000 after acquiring an additional 5,465,824 shares in the last quarter. Norges Bank bought a new stake in Citizens Financial Group during the 4th quarter valued at $117,372,000. AQR Capital Management LLC boosted its position in shares of Citizens Financial Group by 1,213.2% in the 3rd quarter. AQR Capital Management LLC now owns 3,746,064 shares of the bank’s stock worth $100,395,000 after purchasing an additional 3,460,792 shares in the last quarter. Barclays PLC boosted its position in shares of Citizens Financial Group by 95.5% in the 3rd quarter. Barclays PLC now owns 2,484,439 shares of the bank’s stock worth $66,584,000 after purchasing an additional 1,213,573 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of Citizens Financial Group by 96.3% in the 4th quarter. Hsbc Holdings PLC now owns 2,472,122 shares of the bank’s stock worth $81,932,000 after purchasing an additional 1,212,642 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Company Profile

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.