Citizens Financial Group (NYSE:CFG) Now Covered by Morgan Stanley

Stock analysts at Morgan Stanley assumed coverage on shares of Citizens Financial Group (NYSE:CFG) in a note issued to investors on Wednesday, The Fly reports. The brokerage set an “overweight” rating and a $61.00 price target on the bank’s stock. Morgan Stanley’s target price suggests a potential upside of 19.51% from the company’s current price.

Separately, Jefferies Financial Group raised their target price on shares of Citizens Financial Group from $47.00 to $53.00 and gave the company a “hold” rating in a report on Monday, October 11th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $50.55.

NYSE:CFG opened at $51.04 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $48.11 and a two-hundred day moving average price of $46.45. Citizens Financial Group has a twelve month low of $32.58 and a twelve month high of $51.54. The company has a market capitalization of $21.75 billion, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 0.44 and a beta of 1.67.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Tuesday, October 19th. The bank reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.02. Citizens Financial Group had a net margin of 31.99% and a return on equity of 10.99%. During the same quarter in the prior year, the company posted $0.73 earnings per share. On average, equities research analysts predict that Citizens Financial Group will post 5.25 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC boosted its position in Citizens Financial Group by 70.4% during the 3rd quarter. Global Retirement Partners LLC now owns 576 shares of the bank’s stock worth $27,000 after purchasing an additional 238 shares during the period. Spire Wealth Management increased its holdings in Citizens Financial Group by 148.8% in the 3rd quarter. Spire Wealth Management now owns 602 shares of the bank’s stock valued at $28,000 after purchasing an additional 360 shares in the last quarter. Red Door Wealth Management LLC acquired a new stake in Citizens Financial Group in the 2nd quarter valued at $30,000. Kings Point Capital Management acquired a new stake in Citizens Financial Group in the 3rd quarter valued at $33,000. Finally, Bedel Financial Consulting Inc. increased its holdings in Citizens Financial Group by 235.8% in the 2nd quarter. Bedel Financial Consulting Inc. now owns 712 shares of the bank’s stock valued at $33,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 91.26% of the company’s stock.

About Citizens Financial Group

Citizens Financial Group, Inc engages in the provision of commercial banking services. It operates through the following segments: Consumer Banking and Commercial Banking. The Consumer Banking segment includes deposit products, mortgage and home equity lending, student loans, auto financing, credit cards, business loans, and wealth management and investment services.

Read More: What is the definition of arbitrage?

The Fly logo

Analyst Recommendations for Citizens Financial Group (NYSE:CFG)

Receive News & Ratings for Citizens Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citizens Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.