Citizens Financial Group (NYSE:CFG) Price Target Raised to $48.00 at Piper Sandler

Citizens Financial Group (NYSE:CFG) had its target price lifted by Piper Sandler from $45.00 to $48.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Piper Sandler’s price objective would indicate a potential upside of 9.84% from the company’s previous close.

A number of other research firms have also recently issued reports on CFG. The Goldman Sachs Group lifted their price objective on Citizens Financial Group from $43.00 to $49.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. DA Davidson lifted their price objective on Citizens Financial Group from $41.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Citigroup lifted their price objective on Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Evercore ISI lifted their price objective on Citizens Financial Group from $38.00 to $39.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Finally, UBS Group lifted their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.60.

Citizens Financial Group Price Performance

Shares of NYSE CFG traded up $0.46 during mid-day trading on Friday, reaching $43.70. The company had a trading volume of 392,522 shares, compared to its average volume of 5,472,515. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60. The stock has a market cap of $19.88 billion, a PE ratio of 15.80, a P/E/G ratio of 1.47 and a beta of 1.10. The company has a 50-day moving average price of $36.36 and a two-hundred day moving average price of $34.52. Citizens Financial Group has a 1-year low of $22.77 and a 1-year high of $43.96.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.95 billion. Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 earnings per share. On average, equities analysts anticipate that Citizens Financial Group will post 3.24 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc increased its stake in Citizens Financial Group by 262.8% in the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after acquiring an additional 678 shares during the last quarter. Larson Financial Group LLC bought a new position in Citizens Financial Group in the fourth quarter valued at approximately $33,000. Quarry LP increased its stake in Citizens Financial Group by 183.1% in the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock valued at $37,000 after acquiring an additional 714 shares during the last quarter. CVA Family Office LLC bought a new position in Citizens Financial Group in the fourth quarter valued at approximately $40,000. Finally, Blue Trust Inc. increased its stake in Citizens Financial Group by 77.6% in the fourth quarter. Blue Trust Inc. now owns 1,314 shares of the bank’s stock valued at $44,000 after acquiring an additional 574 shares during the last quarter. 94.90% of the stock is owned by institutional investors.

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.