Citizens Financial Group (CFG) Hits New 12-Month High on Strong Earnings

Shares of Citizens Financial Group Inc (NYSE:CFG) hit a new 52-week high during trading on Friday following a stronger than expected earnings report. The stock traded as high as $46.48 and last traded at $45.76, with a volume of 6065000 shares traded. The stock had previously closed at $45.84.

The bank reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.04. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.45 billion. Citizens Financial Group had a return on equity of 6.44% and a net margin of 20.26%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 EPS.

A number of brokerages recently issued reports on CFG. Deutsche Bank reiterated a “hold” rating and set a $36.00 price objective (up from $34.00) on shares of Citizens Financial Group in a research note on Tuesday, September 26th. Bank of America reiterated an “underperform” rating and set a $40.00 price objective (down from $41.00) on shares of Citizens Financial Group in a research note on Monday, October 2nd. Barclays upped their price target on Citizens Financial Group from $41.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. TheStreet upgraded Citizens Financial Group from a “c” rating to an “a+” rating in a research note on Monday, November 27th. Finally, Citigroup restated a “neutral” rating and issued a $42.00 price target (up from $38.00) on shares of Citizens Financial Group in a research note on Monday, October 9th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $41.46.

In other news, Director Wendy A. Watson sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $40.31, for a total transaction of $161,240.00. Following the sale, the director now directly owns 12,917 shares of the company’s stock, valued at approximately $520,684.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue raised its holdings in Citizens Financial Group by 46.0% during the 4th quarter. State of Alaska Department of Revenue now owns 86,849 shares of the bank’s stock valued at $3,645,000 after buying an additional 27,370 shares during the period. BKD Wealth Advisors LLC raised its holdings in Citizens Financial Group by 16.2% during the 4th quarter. BKD Wealth Advisors LLC now owns 12,715 shares of the bank’s stock valued at $534,000 after buying an additional 1,770 shares during the period. Westpac Banking Corp raised its holdings in Citizens Financial Group by 26.6% during the 4th quarter. Westpac Banking Corp now owns 119,716 shares of the bank’s stock valued at $5,026,000 after buying an additional 25,130 shares during the period. National Pension Service raised its holdings in Citizens Financial Group by 2.0% during the 4th quarter. National Pension Service now owns 505,107 shares of the bank’s stock valued at $21,204,000 after buying an additional 9,823 shares during the period. Finally, Bank of Montreal Can raised its holdings in Citizens Financial Group by 4.2% during the 4th quarter. Bank of Montreal Can now owns 1,362,618 shares of the bank’s stock valued at $57,203,000 after buying an additional 55,358 shares during the period. 98.48% of the stock is currently owned by institutional investors and hedge funds.

The stock has a market cap of $23,030.00, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 0.69 and a beta of 1.37. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.97 and a current ratio of 0.98.

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About Citizens Financial Group

Citizens Financial Group, Inc is a retail bank holding company. The Company operates through two segments: Consumer Banking and Commercial Banking. Its Consumer Banking serves retail customers and small businesses. Consumer Banking products and services include deposit products, mortgage and home equity lending, auto financing, student loans, personal unsecured lines and loans, credit cards, business loans, wealth management and investment services.

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