Citizens Financial Group (NYSE:CFG) Price Target Lowered to $51.00 at Truist Financial

Citizens Financial Group (NYSE:CFG) had its price target lowered by equities researchers at Truist Financial from $54.00 to $51.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the bank’s stock. Truist Financial’s price target would suggest a potential upside of 24.50% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Morgan Stanley reduced their price objective on Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. The Goldman Sachs Group lifted their target price on shares of Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Compass Point boosted their target price on shares of Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Barclays raised their price target on shares of Citizens Financial Group from $47.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Citizens Financial Group from $53.00 to $56.00 and gave the stock a “market perform” rating in a report on Tuesday, January 21st. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.06.

Citizens Financial Group Stock Performance

Shares of CFG opened at $40.97 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $17.91 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 0.81 and a beta of 1.06. Citizens Financial Group has a one year low of $32.06 and a one year high of $49.25. The company has a 50-day moving average of $45.16 and a two-hundred day moving average of $44.11.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. On average, equities research analysts expect that Citizens Financial Group will post 3.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CFG. CHURCHILL MANAGEMENT Corp bought a new position in Citizens Financial Group during the fourth quarter worth about $8,134,000. BTC Capital Management Inc. increased its position in shares of Citizens Financial Group by 19.8% during the 4th quarter. BTC Capital Management Inc. now owns 42,999 shares of the bank’s stock worth $1,882,000 after purchasing an additional 7,119 shares in the last quarter. Patton Fund Management Inc. bought a new position in Citizens Financial Group during the 4th quarter valued at about $6,694,000. AEGON ASSET MANAGEMENT UK Plc boosted its position in Citizens Financial Group by 46.8% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,152,151 shares of the bank’s stock valued at $50,430,000 after buying an additional 367,439 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in Citizens Financial Group by 19.3% during the fourth quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank’s stock worth $217,781,000 after buying an additional 805,758 shares during the last quarter. 94.90% of the stock is owned by institutional investors.

About Citizens Financial Group

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.