Evercore ISI Forecasts Strong Price Appreciation for Citizens Financial Group (NYSE:CFG) Stock

Citizens Financial Group (NYSE:CFG) had its price objective raised by equities research analysts at Evercore ISI from $69.00 to $77.00 in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage currently has an “outperform” rating on the bank’s stock. Evercore ISI’s price target indicates a potential upside of 17.26% from the stock’s current price.

Several other analysts also recently issued reports on the company. Citigroup boosted their price target on Citizens Financial Group from $65.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Raymond James Financial downgraded shares of Citizens Financial Group from a “strong-buy” rating to an “outperform” rating and lifted their price target for the company from $62.00 to $66.00 in a research report on Wednesday, January 7th. Weiss Ratings lowered Citizens Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. Truist Financial increased their target price on Citizens Financial Group from $63.00 to $71.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Finally, New Street Research set a $73.00 price objective on shares of Citizens Financial Group in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.91.

Citizens Financial Group Stock Performance

NYSE:CFG traded down $0.93 during mid-day trading on Thursday, hitting $65.67. The stock had a trading volume of 972,193 shares, compared to its average volume of 5,582,775. The company has a 50 day simple moving average of $59.77 and a 200-day simple moving average of $54.01. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $28.20 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 0.54 and a beta of 0.72. Citizens Financial Group has a 52 week low of $32.60 and a 52 week high of $67.50.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, January 21st. The bank reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.02. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.89%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. On average, research analysts expect that Citizens Financial Group will post 3.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Citizens Financial Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CFG. Activest Wealth Management lifted its position in Citizens Financial Group by 5,600.0% in the 4th quarter. Activest Wealth Management now owns 513 shares of the bank’s stock valued at $30,000 after acquiring an additional 504 shares in the last quarter. True Wealth Design LLC boosted its holdings in shares of Citizens Financial Group by 891.5% during the 3rd quarter. True Wealth Design LLC now owns 585 shares of the bank’s stock valued at $31,000 after acquiring an additional 526 shares during the last quarter. GoalVest Advisory LLC grew its stake in shares of Citizens Financial Group by 16,900.0% in the second quarter. GoalVest Advisory LLC now owns 680 shares of the bank’s stock worth $30,000 after acquiring an additional 676 shares during the period. Fortitude Family Office LLC raised its holdings in shares of Citizens Financial Group by 632.0% during the fourth quarter. Fortitude Family Office LLC now owns 710 shares of the bank’s stock valued at $41,000 after purchasing an additional 613 shares during the last quarter. Finally, REAP Financial Group LLC lifted its position in Citizens Financial Group by 72.4% during the second quarter. REAP Financial Group LLC now owns 736 shares of the bank’s stock valued at $33,000 after purchasing an additional 309 shares during the period. 94.90% of the stock is owned by hedge funds and other 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.