Citizens Financial Group (NYSE:CFG) Price Target Cut to $74.00 by Analysts at Citigroup

Citizens Financial Group (NYSE:CFG) had its target price decreased by Citigroup from $84.00 to $74.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the bank’s stock. Citigroup’s price target would indicate a potential upside of 15.18% from the stock’s previous close.

CFG has been the topic of several other research reports. Argus set a $80.00 price objective on shares of Citizens Financial Group in a report on Wednesday, July 29th. TD Cowen assumed coverage on shares of Citizens Financial Group in a report on Thursday, October 8th. They issued a “buy” rating and a $75.00 target price on the stock. Jefferies Financial Group lifted their price target on Citizens Financial Group from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Evercore reissued an “outperform” rating and set a $78.00 price objective on shares of Citizens Financial Group in a report on Thursday, October 1st. Finally, Royal Bank Of Canada lowered their price objective on Citizens Financial Group from $79.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $77.47.

Citizens Financial Group Stock Up 2.4%

NYSE:CFG traded up $1.49 on Tuesday, hitting $64.25. The stock had a trading volume of 2,814,402 shares, compared to its average volume of 4,625,540. The business’s fifty day moving average is $67.83 and its 200 day moving average is $67.13. The company has a market cap of $27.06 billion, a PE ratio of 12.92, a P/E/G ratio of 0.58 and a beta of 0.72. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.74. Citizens Financial Group has a 52 week low of $49.00 and a 52 week high of $75.33.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Friday, October 16th. The bank reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. On average, equities research analysts expect that Citizens Financial Group will post 5.29 EPS for the current fiscal year.

Insider Activity at Citizens Financial Group

In other news, CEO Bruce Van Saun sold 129,369 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $72.07, for a total value of $9,323,623.83. Following the transaction, the chief executive officer owned 1,140,763 shares in the company, valued at $82,214,789.41. The trade was a 10.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.67% of the stock is currently owned by corporate insiders.

Institutional Trading of Citizens Financial Group

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE purchased a new position in shares of Citizens Financial Group during the second quarter worth approximately $223,386,000. Freestone Grove Partners LP purchased a new stake in shares of Citizens Financial Group in the 2nd quarter valued at $95,642,000. Tidal Investments LLC boosted its stake in shares of Citizens Financial Group by 12.4% in the 2nd quarter. Tidal Investments LLC now owns 145,378 shares of the bank’s stock valued at $10,187,000 after purchasing an additional 16,000 shares in the last quarter. Junto Capital Management LP grew its holdings in shares of Citizens Financial Group by 3.3% during the 2nd quarter. Junto Capital Management LP now owns 1,307,340 shares of the bank’s stock valued at $91,605,000 after purchasing an additional 42,248 shares during the last quarter. Finally, Andra AP fonden raised its position in Citizens Financial Group by 94.7% in the 2nd quarter. Andra AP fonden now owns 269,900 shares of the bank’s stock worth $18,912,000 after purchasing an additional 131,300 shares during the period. 94.90% of the stock is owned by hedge funds and other institutional investors.

About Citizens Financial Group

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to consumers, small businesses, middle-market companies, large corporations and institutional clients.

The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.