Citizens Financial Group, Inc. (NYSE:CFG)‘s stock had its “neutral” rating reaffirmed by Citigroup Inc. in a research report issued to clients and investors on Monday. They presently have a $42.00 target price on the bank’s stock, up from their previous target price of $38.00. Citigroup Inc.’s price target points to a potential upside of 11.08% from the company’s current price.
Other analysts also recently issued reports about the company. TheStreet upgraded Citizens Financial Group from a “c” rating to a “b-” rating in a research note on Monday, August 7th. Keefe, Bruyette & Woods set a $40.00 target price on Citizens Financial Group and gave the company a “buy” rating in a research note on Friday, August 11th. Zacks Investment Research upgraded Citizens Financial Group from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Friday, July 28th. BidaskClub upgraded Citizens Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Finally, Deutsche Bank AG restated a “hold” rating on shares of Citizens Financial Group in a research note on Wednesday, July 5th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $37.12.
Shares of Citizens Financial Group (NYSE:CFG) opened at 37.81 on Monday. The stock has a 50 day moving average price of $35.15 and a 200-day moving average price of $35.30. Citizens Financial Group has a one year low of $24.22 and a one year high of $39.75. The company has a market capitalization of $18.93 billion, a price-to-earnings ratio of 16.14 and a beta of 1.37.
Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, July 21st. The bank reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.04. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.40 billion. Citizens Financial Group had a return on equity of 6.08% and a net margin of 19.86%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the business posted $0.46 EPS. On average, equities research analysts expect that Citizens Financial Group will post $2.54 EPS for the current year.
Citizens Financial Group declared that its board has initiated a share repurchase plan on Wednesday, June 28th that authorizes the company to buyback $850.00 million in shares. This buyback authorization authorizes the bank to buy up to 4.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.
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A number of hedge funds have recently added to or reduced their stakes in the business. Eqis Capital Management Inc. boosted its stake in Citizens Financial Group by 20.4% during the 3rd quarter. Eqis Capital Management Inc. now owns 9,470 shares of the bank’s stock valued at $359,000 after purchasing an additional 1,607 shares during the last quarter. USA Financial Portformulas Corp acquired a new position in Citizens Financial Group during the 2nd quarter valued at about $1,042,000. Toronto Dominion Bank boosted its stake in Citizens Financial Group by 24.0% during the 2nd quarter. Toronto Dominion Bank now owns 173,841 shares of the bank’s stock valued at $6,201,000 after purchasing an additional 33,596 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in Citizens Financial Group by 44.8% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 38,124 shares of the bank’s stock valued at $1,360,000 after purchasing an additional 11,791 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in Citizens Financial Group during the 2nd quarter valued at about $466,000. Institutional investors and hedge funds own 96.76% of the company’s stock.
About Citizens Financial Group
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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