Royal Bank of Canada Boosts Citizens Financial Group (NYSE:CFG) Price Target to $45.00

Citizens Financial Group (NYSE:CFG) had its target price upped by equities researchers at Royal Bank of Canada from $43.00 to $45.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the bank’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 6.08% from the company’s current price.

Other research analysts have also issued research reports about the company. Raymond James assumed coverage on Citizens Financial Group in a research report on Thursday, July 11th. They set a “market perform” rating for the company. Keefe, Bruyette & Woods boosted their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the company a “market perform” rating in a research report on Monday, September 30th. DA Davidson boosted their price objective on Citizens Financial Group from $41.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. The Goldman Sachs Group boosted 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. Finally, Piper Sandler boosted their price objective on Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Citizens Financial Group has a consensus rating of “Hold” and an average price target of $43.20.

Citizens Financial Group Price Performance

Shares of CFG opened at $42.42 on Thursday. The firm has a market cap of $19.30 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.42 and a beta of 1.07. The stock has a 50 day moving average of $41.22 and a 200-day moving average of $37.97. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60. Citizens Financial Group has a 52 week low of $22.77 and a 52 week high of $44.39.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 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 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 EPS. As a group, analysts forecast that Citizens Financial Group will post 3.22 EPS for the current year.

Insider Transactions at Citizens Financial Group

In other news, insider Craig Jack Read sold 3,938 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $43.26, for a total value of $170,357.88. Following the sale, the insider now owns 33,620 shares of the company’s stock, valued at approximately $1,454,401.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Citizens Financial Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bleakley Financial Group LLC raised its position in shares of Citizens Financial Group by 5.9% during the third quarter. Bleakley Financial Group LLC now owns 11,939 shares of the bank’s stock worth $490,000 after purchasing an additional 668 shares during the period. ZWJ Investment Counsel Inc. raised its position in shares of Citizens Financial Group by 0.3% during the third quarter. ZWJ Investment Counsel Inc. now owns 88,829 shares of the bank’s stock worth $3,648,000 after purchasing an additional 308 shares during the period. B.O.S.S. Retirement Advisors LLC raised its position in shares of Citizens Financial Group by 1.8% during the third quarter. B.O.S.S. Retirement Advisors LLC now owns 45,063 shares of the bank’s stock worth $1,851,000 after purchasing an additional 793 shares during the period. Vontobel Holding Ltd. raised its position in shares of Citizens Financial Group by 124.5% during the third quarter. Vontobel Holding Ltd. now owns 14,897 shares of the bank’s stock worth $612,000 after purchasing an additional 8,262 shares during the period. Finally, Creative Planning raised its position in shares of Citizens Financial Group by 1.1% during the third quarter. Creative Planning now owns 208,476 shares of the bank’s stock worth $8,562,000 after purchasing an additional 2,245 shares during the period. 94.90% of the stock is owned by institutional investors and hedge funds.

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.