The Goldman Sachs Group Issues Positive Forecast for Citizens Financial Group (NYSE:CFG) Stock Price

Citizens Financial Group (NYSE:CFG) had its price objective raised by equities research analysts at The Goldman Sachs Group from $48.00 to $59.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 21.72% from the company’s previous close.

A number of other research analysts have also recently issued reports on CFG. Royal Bank of Canada lifted their target price on shares of Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Evercore ISI cut their price objective on 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. Barclays increased their target price on Citizens Financial Group from $40.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods lifted their price target on Citizens Financial Group from $42.00 to $46.00 and gave the company a “market perform” rating in a report on Monday, September 30th. Finally, Morgan Stanley increased their price objective on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock 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. Based on data from MarketBeat, Citizens Financial Group has an average rating of “Hold” and an average price target of $45.47.

Citizens Financial Group Stock Performance

Citizens Financial Group stock opened at $48.47 on Tuesday. The firm has a market capitalization of $21.36 billion, a P/E ratio of 19.08, a P/E/G ratio of 1.81 and a beta of 1.07. The stock has a fifty day moving average price of $42.99 and a two-hundred day moving average price of $39.93. Citizens Financial Group has a 52-week low of $26.13 and a 52-week high of $49.25. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.79. The business had revenue of $1.90 billion during 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 firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the company posted $0.85 EPS. As a group, analysts anticipate that Citizens Financial Group will post 3.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC bought a new stake in Citizens Financial Group in the second quarter valued at about $25,000. Costello Asset Management INC acquired a new position in shares of Citizens Financial Group during the 3rd quarter worth about $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Citizens Financial Group in the 3rd quarter valued at about $27,000. Catalyst Capital Advisors LLC bought a new stake in shares of Citizens Financial Group in the 3rd quarter valued at about $28,000. Finally, Versant Capital Management Inc raised its position in shares of Citizens Financial Group by 262.8% in the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after acquiring an additional 678 shares during the period. 94.90% of the stock is currently owned by institutional investors.

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.