After Macquarie and Morgan Stanley gave Citizens Financial (NYSE: CFG) a Buy rating last month, the company received another Buy, this time from Stephens. Analyst Terry McEvoy maintained a Buy rating on Citizens Financial yesterday and set a price target of $40. The company’s shares closed yesterday at $29.81, close to its 52-week low of $29.67.
According to TipRanks.com, McEvoy is a 4-star analyst with an average return of 5.2% and a 54.9% success rate. McEvoy covers the Financial sector, focusing on stocks such as Chemical Financial Corp, First Financial Bancorp, and Wintrust Financial Corp.
Currently, the analyst consensus on Citizens Financial is a Strong Buy with an average price target of $46.63, a 56.4% upside from current levels. In a report issued on December 11, Morgan Stanley also maintained a Buy rating on the stock with a $44 price target.
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Based on Citizens Financial’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.84 billion and net profit of $443 million. In comparison, last year the company earned revenue of $1.63 billion and had a net profit of $348 million.
Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CFG in relation to earlier this year.
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Citizens Financial Group, Inc. engages in the provision of commercial banking services. It operates through the following segments: Consumer Banking and Commercial Banking.
