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

Citizens Financial Group (NYSE:CFG) had its target price lowered by equities researchers at Truist Financial from $54.00 to $51.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. Truist Financial’s price objective indicates a potential upside of 24.50% from the company’s current price.

CFG has been the subject of several other reports. Keefe, Bruyette & Woods raised their target price on Citizens Financial Group from $53.00 to $56.00 and gave the company a “market perform” rating in a research note on Tuesday, January 21st. Stephens restated an “overweight” rating and set a $53.00 price objective on shares of Citizens Financial Group in a report on Wednesday, January 29th. Morgan Stanley cut their target price on Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Barclays raised their price target on shares of Citizens Financial Group from $47.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, Compass Point upped their price target on shares of Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.06.

Citizens Financial Group Stock Performance

Shares of NYSE:CFG opened at $40.97 on Friday. The business’s 50-day simple moving average is $45.16 and its 200 day simple moving average is $44.11. The company has a market cap of $17.91 billion, a P/E ratio of 13.52, a PEG ratio of 0.81 and a beta of 1.06. 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 has a one year low of $32.06 and a one year high of $49.25.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital World Investors raised its holdings in shares of Citizens Financial Group by 3.3% during the fourth quarter. Capital World Investors now owns 35,900,115 shares of the bank’s stock valued at $1,570,989,000 after buying an additional 1,131,838 shares during the last quarter. State Street Corp increased its position in Citizens Financial Group by 6.7% in the 3rd quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock valued at $1,060,689,000 after acquiring an additional 1,615,144 shares during the period. Geode Capital Management LLC boosted its position in Citizens Financial Group by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 10,929,591 shares of the bank’s stock worth $477,043,000 after acquiring an additional 124,860 shares during the period. Wellington Management Group LLP grew its stake in shares of Citizens Financial Group by 27.8% in the fourth quarter. Wellington Management Group LLP now owns 10,570,083 shares of the bank’s stock worth $462,547,000 after purchasing an additional 2,298,040 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in shares of Citizens Financial Group by 20.9% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 9,683,111 shares of the bank’s stock valued at $423,733,000 after purchasing an additional 1,672,204 shares during the period. 94.90% of the stock is owned by institutional investors and hedge funds.

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.