Citizens Financial Group (NYSE: CFG) coverage initiated at Morgan Stanley

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Morgan Stanley investment analysts have assumed coverage of the shares of Citizens Financial Group (NYSE: CFG) in a note to investors on Wednesday, The Fly reports. The company has set an “overweight” rating and a price target of $ 61.00 on the bank’s shares. Morgan Stanley’s price target would point to a potential rise of 19.98% from the company’s previous close.

Elsewhere, Jefferies Financial Group increased its target price on Citizens Financial Group from $ 47.00 to $ 53.00 and assigned the stock a “conservation” rating in a research note on Monday, October 11. Four analysts gave the stock a conservation rating, eleven gave the stock a buy rating and one gave the stock a high buy rating. According to data from MarketBeat.com, Citizens Financial Group has an average rating of “Buy” and an average price target of $ 50.55.

CFG shares opened at $ 50.84 on Wednesday. Citizens Financial Group has a one-year low at $ 32.58 and a one-year high at $ 51.14. The stock’s fifty-day moving average price is $ 47.82 and its 200-day moving average price is $ 46.39. The company has a debt ratio of 0.32, a current ratio of 0.91, and a quick ratio of 0.89. The company has a market cap of $ 21.67 billion, a price / earnings ratio of 10.21, a price / earnings-growth ratio of 0.44, and a beta of 1.67.

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

Several hedge funds have recently changed their holdings in CFGs. Amundi Pioneer Asset Management Inc. increased its stake in Citizens Financial Group shares by 2.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 567,631 shares of the bank valued at $ 18,448,000 after purchasing an additional 15,663 shares during the period. Eaton Vance Management acquired a new position in Citizens Financial Group shares in the 1st quarter valued at approximately $ 137,000. Virtu Financial LLC acquired a new position in Citizens Financial Group shares in the 1st quarter valued at approximately $ 471,000. B. Metzler seel. Sohn & Co. Holding AG increased its stake in Citizens Financial Group by 20.1% in the 1st quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 21,836 shares of the bank valued at $ 964,000 after purchasing an additional 3,652 shares during the period. Finally, Pendal Group Limited acquired a new position in Citizens Financial Group in the 1st quarter valued at approximately $ 632,000. 91.26% of the shares are held by institutional investors and hedge funds.

About the Citizens Financial Group

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

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Analyst Recommendations for Citizens Financial Group (NYSE: CFG)

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