JPMorgan Chase & Co. Issues Positive Forecast for Citizens Financial Group (NYSE:CFG) Stock Price

Citizens Financial Group (NYSE:CFG) had its target price boosted by analysts at JPMorgan Chase & Co. from $68.50 to $76.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 7.10% from the company’s previous close.

Other research analysts have also issued research reports about the company. Morgan Stanley boosted their target price on Citizens Financial Group from $73.00 to $79.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Citizens Financial Group in a report on Tuesday, June 9th. Evercore reissued an “outperform” rating and set a $75.00 price target on shares of Citizens Financial Group in a research note on Tuesday, April 21st. Weiss Ratings upgraded Citizens Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Finally, Truist Financial upped their price objective on Citizens Financial Group from $69.00 to $72.00 and gave the company a “hold” rating in a research report on Wednesday, June 24th. Sixteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.10.

Citizens Financial Group Trading Down 0.0%

Shares of CFG opened at $70.97 on Monday. Citizens Financial Group has a twelve month low of $45.90 and a twelve month high of $72.46. The company has a market cap of $30.01 billion, a P/E ratio of 16.78, a P/E/G ratio of 0.56 and a beta of 0.67. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51. The company’s fifty day simple moving average is $65.12 and its 200-day simple moving average is $62.79.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Thursday, April 16th. The bank reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.77 EPS. As a group, analysts expect that Citizens Financial Group will post 5.2 EPS for the current year.

Insider Activity at Citizens Financial Group

In other news, insider Michelle Moosally sold 6,050 shares of Citizens Financial Group stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Citizens Financial Group in the 4th quarter worth $26,000. Cedar Mountain Advisors LLC purchased a new position in shares of Citizens Financial Group during the first quarter valued at $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Citizens Financial Group during the fourth quarter valued at $29,000. Activest Wealth Management increased its stake in shares of Citizens Financial Group by 5,600.0% during the fourth quarter. Activest Wealth Management now owns 513 shares of the bank’s stock valued at $30,000 after buying an additional 504 shares during the period. Finally, DV Equities LLC bought a new stake in shares of Citizens Financial Group in the fourth quarter valued at about $35,000. Institutional investors own 94.90% of the company’s stock.

About Citizens Financial Group

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.