Citizens Financial Group (CFG) Reaches New 52-Week High Following Analyst Upgrade

Shares of Citizens Financial Group Inc (NYSE:CFG) hit a new 52-week high on Wednesday after Barclays raised their price target on the stock from $41.00 to $49.00. Barclays currently has an equal weight rating on the stock. Citizens Financial Group traded as high as $43.00 and last traded at $43.01, with a volume of 2930000 shares trading hands. The stock had previously closed at $41.98.

A number of other analysts have also recently weighed in on CFG. Deutsche Bank reiterated a “hold” rating and issued a $36.00 price target (up from $34.00) on shares of Citizens Financial Group in a research report on Tuesday, September 26th. BMO Capital Markets upgraded Citizens Financial Group from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $40.00 to $39.00 in a report on Tuesday, December 19th. Bank of America restated an “underperform” rating and set a $40.00 target price (down previously from $41.00) on shares of Citizens Financial Group in a report on Monday, October 2nd. Zacks Investment Research cut Citizens Financial Group from a “buy” rating to a “hold” rating in a report on Friday, September 15th. Finally, Sanford C. Bernstein upgraded Citizens Financial Group from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $38.00 to $43.00 in a report on Thursday, September 14th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $41.46.

In related news, Director Wendy A. Watson sold 4,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $40.31, for a total value of $161,240.00. Following the transaction, the director now owns 12,917 shares in the company, valued at $520,684.27. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in CFG. Janus Henderson Group PLC lifted its stake in Citizens Financial Group by 2,682.0% in the second quarter. Janus Henderson Group PLC now owns 8,138,852 shares of the bank’s stock valued at $290,393,000 after buying an additional 7,846,303 shares during the period. Voya Investment Management LLC lifted its stake in Citizens Financial Group by 199.3% in the second quarter. Voya Investment Management LLC now owns 5,276,361 shares of the bank’s stock valued at $188,261,000 after buying an additional 3,513,196 shares during the period. Lazard Asset Management LLC lifted its stake in Citizens Financial Group by 16,695.7% in the second quarter. Lazard Asset Management LLC now owns 2,779,356 shares of the bank’s stock valued at $99,167,000 after buying an additional 2,762,808 shares during the period. BlackRock Inc. lifted its stake in Citizens Financial Group by 5.8% in the second quarter. BlackRock Inc. now owns 45,150,226 shares of the bank’s stock valued at $1,610,961,000 after buying an additional 2,458,123 shares during the period. Finally, Standard Life Investments LTD lifted its stake in Citizens Financial Group by 56.5% in the second quarter. Standard Life Investments LTD now owns 4,980,789 shares of the bank’s stock valued at $177,690,000 after buying an additional 1,798,860 shares during the period. 98.48% of the stock is currently owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.97 and a current ratio of 0.98. The company has a market cap of $21,160.00, a P/E ratio of 17.41, a price-to-earnings-growth ratio of 0.99 and a beta of 1.37.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Friday, October 20th. The bank reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. Citizens Financial Group had a return on equity of 6.44% and a net margin of 20.26%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the firm posted $0.52 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. equities research analysts expect that Citizens Financial Group Inc will post 2.59 EPS for the current year.

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Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a retail bank holding company. The Company operates through two segments: Consumer Banking and Commercial Banking. Its Consumer Banking serves retail customers and small businesses. Consumer Banking products and services include deposit products, mortgage and home equity lending, auto financing, student loans, personal unsecured lines and loans, credit cards, business loans, wealth management and investment services.

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