Truist Financial Issues Pessimistic Forecast for Citizens Financial Group (NYSE:CFG) Stock Price

Citizens Financial Group (NYSE:CFG) had its price target reduced by Truist Financial from $51.00 to $43.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the bank’s stock. Truist Financial’s target price would indicate a potential upside of 21.38% from the stock’s previous close.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. dropped their target price on shares of Citizens Financial Group from $49.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Barclays upped their price target on Citizens Financial Group from $47.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Stephens reissued an “overweight” rating and set a $53.00 price objective on shares of Citizens Financial Group in a research note on Wednesday, January 29th. Citigroup cut their target price on Citizens Financial Group from $58.00 to $51.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Finally, Keefe, Bruyette & Woods dropped their price target on Citizens Financial Group from $49.00 to $45.00 and set a “market perform” rating on the stock in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.82.

Citizens Financial Group Stock Performance

Shares of NYSE CFG opened at $35.43 on Thursday. Citizens Financial Group has a 1 year low of $32.60 and a 1 year high of $49.25. The firm has a market cap of $15.49 billion, a P/E ratio of 11.69, a PEG ratio of 0.81 and a beta of 0.81. The stock has a fifty day moving average price of $40.88 and a two-hundred day moving average price of $43.59. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, April 16th. The bank reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Research analysts forecast that Citizens Financial Group will post 3.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Capital World Investors grew its position in Citizens Financial Group by 3.3% in the fourth quarter. Capital World Investors now owns 35,900,115 shares of the bank’s stock worth $1,570,989,000 after acquiring an additional 1,131,838 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Citizens Financial Group by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 10,929,591 shares of the bank’s stock valued at $477,043,000 after purchasing an additional 124,860 shares during the last quarter. Wellington Management Group LLP raised its holdings in Citizens Financial Group by 27.8% during the fourth quarter. Wellington Management Group LLP now owns 10,570,083 shares of the bank’s stock valued at $462,547,000 after buying an additional 2,298,040 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Citizens Financial Group by 20.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 9,683,111 shares of the bank’s stock worth $423,733,000 after acquiring an additional 1,672,204 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Citizens Financial Group by 6.4% during the 4th quarter. Royal Bank of Canada now owns 6,247,238 shares of the bank’s stock valued at $273,378,000 after acquiring an additional 374,850 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.