Argus Increases Citizens Financial Group (NYSE:CFG) Price Target to $39.00

Citizens Financial Group (NYSE:CFG) had its price objective lifted by Argus from $36.00 to $39.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. Argus’ target price suggests a potential upside of 10.67% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on CFG. Barclays cut shares of Citizens Financial Group from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $38.00 to $40.00 in a research report on Tuesday, January 2nd. Citigroup raised their price objective on shares of Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Royal Bank of Canada raised their price objective on shares of Citizens Financial Group from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Jefferies Financial Group raised their price objective on shares of Citizens Financial Group from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Citizens Financial Group from $35.00 to $39.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.13.

Citizens Financial Group Price Performance

CFG traded up $0.27 during midday trading on Wednesday, hitting $35.24. 2,047,845 shares of the company traded hands, compared to its average volume of 5,838,499. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $16.16 billion, a price-to-earnings ratio of 12.78 and a beta of 1.38. Citizens Financial Group has a 52-week low of $22.77 and a 52-week high of $36.38. The business has a 50 day simple moving average of $33.46 and a two-hundred day simple moving average of $30.83.

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

Insider Buying and Selling

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

Institutional Trading of Citizens Financial Group

Institutional investors have recently modified their holdings of the stock. Lindbrook Capital LLC lifted its position in shares of Citizens Financial Group by 100.8% during the 3rd quarter. Lindbrook Capital LLC now owns 988 shares of the bank’s stock worth $26,000 after buying an additional 496 shares during the last quarter. Larson Financial Group LLC acquired a new position in Citizens Financial Group in the 4th quarter valued at $33,000. Quarry LP increased its stake in Citizens Financial Group by 183.1% in the 4th quarter. Quarry LP now owns 1,104 shares of the bank’s stock valued at $37,000 after buying an additional 714 shares during the period. CVA Family Office LLC acquired a new position in Citizens Financial Group in the 4th quarter valued at $40,000. Finally, Blue Trust Inc. increased its stake in Citizens Financial Group by 77.6% in the 4th quarter. Blue Trust Inc. now owns 1,314 shares of the bank’s stock valued at $44,000 after buying an additional 574 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 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.