Morgan Stanley Forecasts Strong Price Appreciation for Citizens Financial Group (NYSE:CFG) Stock

Citizens Financial Group (NYSE:CFG) had its price objective lifted by equities research analysts at Morgan Stanley from $73.00 to $80.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Morgan Stanley’s price target would indicate a potential upside of 31.16% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the company. Citigroup increased their price objective on Citizens Financial Group from $65.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Royal Bank Of Canada upped their target price on Citizens Financial Group from $60.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, January 22nd. DA Davidson lifted their price target on Citizens Financial Group from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Weiss Ratings raised Citizens Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Finally, Raymond James Financial downgraded shares of Citizens Financial Group from a “strong-buy” rating to an “outperform” rating and raised their target price for the company from $62.00 to $66.00 in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $69.09.

Citizens Financial Group Price Performance

NYSE:CFG traded up $0.80 during mid-day trading on Monday, hitting $60.99. 1,486,301 shares of the stock traded hands, compared to its average volume of 5,481,957. The business’s 50-day moving average price is $62.54 and its 200 day moving average price is $56.04. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.46. The company has a market cap of $25.92 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 0.49 and a beta of 0.72. Citizens Financial Group has a 12-month low of $32.60 and a 12-month high of $68.79.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.02. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.81%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the company posted $0.85 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, analysts expect that Citizens Financial Group will post 3.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Citizens Financial Group

Institutional investors have recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. purchased a new position in Citizens Financial Group in the 4th quarter worth $26,000. Activest Wealth Management boosted its position in Citizens Financial Group by 5,600.0% during the fourth quarter. Activest Wealth Management now owns 513 shares of the bank’s stock valued at $30,000 after buying an additional 504 shares during the period. True Wealth Design LLC grew its stake in shares of Citizens Financial Group by 891.5% during the third quarter. True Wealth Design LLC now owns 585 shares of the bank’s stock valued at $31,000 after buying an additional 526 shares during the last quarter. DV Equities LLC purchased a new position in shares of Citizens Financial Group in the fourth quarter worth about $35,000. Finally, Capital A Wealth Management LLC increased its holdings in shares of Citizens Financial Group by 3,970.0% in the second quarter. Capital A Wealth Management LLC now owns 814 shares of the bank’s stock worth $36,000 after buying an additional 794 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Company Profile

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.