Piper Sandler Forecasts Strong Price Appreciation for Citizens Financial Group (NYSE:CFG) Stock

Citizens Financial Group (NYSE:CFG) had its target price upped by stock analysts at Piper Sandler from $48.00 to $53.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Piper Sandler’s price objective indicates a potential upside of 13.73% from the stock’s previous close.

CFG has been the subject of several other reports. DA Davidson raised their price objective on shares of Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Barclays raised their price objective on shares of Citizens Financial Group from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. StockNews.com upgraded shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Citigroup raised their price objective on shares of Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Keefe, Bruyette & Woods lifted their price target on shares of 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. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $46.27.

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $46.60 on Tuesday. The firm has a 50-day simple moving average of $43.91 and a 200-day simple moving average of $40.45. The stock has a market capitalization of $20.54 billion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 1.79 and a beta of 1.08. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61. Citizens Financial Group has a 52 week low of $28.19 and a 52 week high of $49.25.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, meeting analysts’ consensus estimates of $0.79. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the business earned $0.85 earnings per share. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, equities analysts predict that Citizens Financial Group will post 3.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Citizens Financial Group

A number of institutional investors have recently modified their holdings of the business. State Street Corp increased its holdings in shares of Citizens Financial Group by 6.7% in the 3rd quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock valued at $1,060,689,000 after acquiring an additional 1,615,144 shares during the period. Wellington Management Group LLP increased its holdings in shares of Citizens Financial Group by 207.2% in the 3rd quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock valued at $339,733,000 after acquiring an additional 5,579,313 shares during the period. LSV Asset Management increased its holdings in shares of Citizens Financial Group by 1.8% in the 2nd quarter. LSV Asset Management now owns 6,580,797 shares of the bank’s stock valued at $237,106,000 after acquiring an additional 113,300 shares during the period. Dimensional Fund Advisors LP increased its stake in Citizens Financial Group by 15.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,429,264 shares of the bank’s stock valued at $159,550,000 after buying an additional 587,115 shares during the period. Finally, AQR Capital Management LLC increased its stake in Citizens Financial Group by 61.4% in the 2nd quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock valued at $155,909,000 after buying an additional 1,682,886 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.