Fintel reports that on July 11, 2023, Jefferies maintained coverage of Citizens Financial Group (NYSE:CFG) with a Hold recommendation.
Analyst Price Forecast Suggests 31.30% Upside
As of July 6, 2023, the average one-year price target for Citizens Financial Group is 35.06. The forecasts range from a low of 25.25 to a high of $46.20. The average price target represents an increase of 31.30% from its latest reported closing price of 26.70.
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The projected annual revenue for Citizens Financial Group is 9,170MM, an increase of 16.59%. The projected annual non-GAAP EPS is 5.22.
What is the Fund Sentiment?
There are 1514 funds or institutions reporting positions in Citizens Financial Group. This is a decrease of 31 owner(s) or 2.01% in the last quarter. Average portfolio weight of all funds dedicated to CFG is 0.26%, a decrease of 18.41%. Total shares owned by institutions decreased in the last three months by 2.01% to 521,745K shares. 
The put/call ratio of CFG is 0.82, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital International Investors holds 23,149K shares representing 4.78% ownership of the company. In it's prior filing, the firm reported owning 22,616K shares, representing an increase of 2.31%. The firm decreased its portfolio allocation in CFG by 24.32% over the last quarter.
Invesco holds 17,923K shares representing 3.70% ownership of the company. In it's prior filing, the firm reported owning 17,825K shares, representing an increase of 0.55%. The firm decreased its portfolio allocation in CFG by 93.16% over the last quarter.
Amundi holds 16,364K shares representing 3.38% ownership of the company. In it's prior filing, the firm reported owning 14,607K shares, representing an increase of 10.74%. The firm decreased its portfolio allocation in CFG by 95.19% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 14,949K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 14,951K shares, representing a decrease of 0.02%. The firm decreased its portfolio allocation in CFG by 28.78% over the last quarter.
AWSHX - WASHINGTON MUTUAL INVESTORS FUND holds 13,843K shares representing 2.86% ownership of the company. In it's prior filing, the firm reported owning 17,666K shares, representing a decrease of 27.62%. The firm decreased its portfolio allocation in CFG by 43.81% over the last quarter.
Citizens Financial Group Background Information
(This description is provided by the company.)
Citizens Financial Group, Inc. is one of the nation's oldest and largest financial institutions, with $179.2 billion in assets as of September 30, 2020. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 2,700 ATMs and approximately 1,000 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities.
Additional reading:
- Citizens Financial Group, Inc. Announces Preliminary Stress Capital Buffer
- Barclays Americas Select Franchise Conference May 9, 2023 Bruce Van Saun Chairman, Chief Executive Officer 2 Forward-looking statements and use of non-GAAP financial measures This document contains forward-looking statements within the meaning of the
- Citizens Financial Group, Inc. Reports First Quarter 2023 Net Income of $511 million and EPS of $1.00 Underlying Net Income of $560 million and EPS of $1.10*
- 1Q23 Financial Results April 19, 2023 2 Forward-looking statements and use of non-GAAP financial measures This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement that
- Financial Supplement First Quarter 2023
This story originally appeared on Fintel.
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