The Goldman Sachs Group Forecasts Strong Price Appreciation for Citizens Financial Group (NYSE:CFG) Stock

Citizens Financial Group (NYSE:CFG) had its price target hoisted by equities research analysts at The Goldman Sachs Group from $48.00 to $59.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 22.48% from the stock’s current price.

Several other analysts have also recently weighed in on CFG. Royal Bank of Canada lifted their price target on Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Evercore ISI reduced their target price on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods raised their price target on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a “market perform” rating in a research report on Monday, September 30th. Finally, Morgan Stanley boosted their price objective on shares of Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.47.

Citizens Financial Group Price Performance

Shares of CFG opened at $48.17 on Tuesday. The company’s 50-day moving average is $43.29 and its 200-day moving average is $40.07. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a market capitalization of $21.23 billion, a PE ratio of 18.96, a PEG ratio of 1.84 and a beta of 1.07. Citizens Financial Group has a fifty-two week low of $26.13 and a fifty-two week high of $49.25.

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

Hedge Funds Weigh In On Citizens Financial Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Innealta Capital LLC bought a new stake in shares of Citizens Financial Group during the 2nd quarter worth $25,000. Costello Asset Management INC bought a new position in shares of Citizens Financial Group in the third quarter worth about $25,000. Ashton Thomas Securities LLC bought a new position in shares of Citizens Financial Group in the third quarter worth about $27,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Citizens Financial Group in the 3rd quarter valued at approximately $28,000. Finally, Versant Capital Management Inc grew its holdings in shares of Citizens Financial Group by 262.8% during the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after purchasing an additional 678 shares during the last quarter. 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.