Citizens Financial Group (NYSE:CFG) Upgraded by Piper Sandler to “Overweight”

Citizens Financial Group (NYSE:CFG) was upgraded by equities research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued on Friday, Marketbeat.com reports. The brokerage presently has a $41.00 target price on the bank’s stock, up from their prior target price of $35.00. Piper Sandler’s target price would indicate a potential upside of 16.64% from the stock’s current price.

Other analysts have also issued research reports about the company. Citigroup boosted their target price on Citizens Financial Group from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Jefferies Financial Group boosted their target price on Citizens Financial Group from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, April 8th. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Morgan Stanley increased their price objective on Citizens Financial Group from $31.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Finally, UBS Group increased their price objective on Citizens Financial Group from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.13.

Citizens Financial Group Trading Up 0.4 %

CFG opened at $35.15 on Friday. The stock has a market capitalization of $16.11 billion, a PE ratio of 12.74 and a beta of 1.38. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87. Citizens Financial Group has a one year low of $22.77 and a one year high of $36.38. The business’s 50 day moving average price is $33.68 and its 200 day moving average price is $30.98.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The firm’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.00 EPS. As a group, equities research analysts expect that Citizens Financial Group will post 3.24 EPS for the current year.

Insiders Place Their Bets

In other Citizens Financial Group news, insider Craig Jack Read sold 6,327 shares of the firm’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $33.70, for a total transaction of $213,219.90. Following the transaction, the insider now owns 37,558 shares of the company’s stock, valued at $1,265,704.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Hedge Funds Weigh In On Citizens Financial Group

Hedge funds have recently made changes to their positions in the company. Capital International Investors grew its holdings in shares of Citizens Financial Group by 3.5% during the fourth quarter. Capital International Investors now owns 35,157,079 shares of the bank’s stock worth $1,165,106,000 after buying an additional 1,199,158 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Citizens Financial Group by 5.7% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 11,594,481 shares of the bank’s stock worth $310,732,000 after buying an additional 621,715 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Citizens Financial Group by 217.5% during the third quarter. Wellington Management Group LLP now owns 7,978,410 shares of the bank’s stock worth $213,821,000 after buying an additional 5,465,824 shares during the last quarter. LSV Asset Management grew its holdings in shares of Citizens Financial Group by 1.5% during the fourth quarter. LSV Asset Management now owns 6,504,591 shares of the bank’s stock worth $215,562,000 after buying an additional 95,292 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Citizens Financial Group by 6.4% during the third quarter. Royal Bank of Canada now owns 5,532,398 shares of the bank’s stock worth $148,268,000 after buying an additional 332,222 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

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.