Citigroup Upgrades Citizens Financial Group (NYSE:CFG) to Strong-Buy

Citizens Financial Group (NYSE:CFG) was upgraded by stock analysts at Citigroup from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. lifted their target price on Citizens Financial Group from $68.50 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Cantor Fitzgerald raised their price target on Citizens Financial Group from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Weiss Ratings raised shares of Citizens Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Stephens upped their price target on shares of Citizens Financial Group from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Evercore reissued an “outperform” rating and issued a $80.00 price target on shares of Citizens Financial Group in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.15.

Citizens Financial Group Trading Down 1.2%

Shares of NYSE:CFG opened at $71.55 on Monday. Citizens Financial Group has a 52-week low of $45.90 and a 52-week high of $74.70. The company has a market capitalization of $30.26 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 0.60 and a beta of 0.67. The company has a 50-day simple moving average of $66.61 and a 200 day simple moving average of $63.71. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.25 billion. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.The business’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 earnings per share. Sell-side analysts forecast that Citizens Financial Group will post 5.25 earnings per share for the current year.

Insider Buying and Selling at Citizens Financial Group

In other news, insider Michelle Moosally sold 6,050 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total value of $376,068.00. Following the completion of the sale, the insider owned 22,565 shares of the company’s stock, valued at approximately $1,402,640.40. The trade was a 21.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Citizens Financial Group

Hedge funds have recently bought and sold shares of the business. Ballast Inc. acquired a new stake in Citizens Financial Group in the 2nd quarter worth about $322,000. Tema ETFs LLC grew its position in shares of Citizens Financial Group by 9.4% during the 2nd quarter. Tema ETFs LLC now owns 8,425 shares of the bank’s stock worth $590,000 after purchasing an additional 725 shares in the last quarter. Everhart Financial Group Inc. grew its position in shares of Citizens Financial Group by 6.8% during the 2nd quarter. Everhart Financial Group Inc. now owns 23,279 shares of the bank’s stock worth $1,631,000 after purchasing an additional 1,487 shares in the last quarter. Everpar Advisors LLC bought a new position in shares of Citizens Financial Group during the second quarter worth approximately $211,000. Finally, Valeo Financial Advisors LLC increased its holdings in shares of Citizens Financial Group by 11.0% during the second quarter. Valeo Financial Advisors LLC now owns 3,918 shares of the bank’s stock worth $275,000 after purchasing an additional 387 shares during the period. 94.90% of the stock is owned by institutional investors.

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.