Truist Financial Has Lowered Expectations for Citizens Financial Group (NYSE:CFG) Stock Price

Citizens Financial Group (NYSE:CFG) had its target price reduced by equities research analysts at Truist Financial from $71.00 to $63.00 in a report issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. Truist Financial’s price objective indicates a potential upside of 6.91% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. TD Cowen upped their price target on shares of Citizens Financial Group from $75.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Barclays set a $77.00 price objective on shares of Citizens Financial Group and gave the stock an “overweight” rating in a research report on Monday, January 5th. Morgan Stanley boosted their target price on shares of Citizens Financial Group from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Keefe, Bruyette & Woods increased their target price on Citizens Financial Group from $68.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 22nd. Finally, Argus raised their target price on Citizens Financial Group from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Twenty research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Citizens Financial Group presently has an average rating of “Moderate Buy” and an average price target of $69.59.

Citizens Financial Group Trading Up 1.6%

Shares of CFG opened at $58.93 on Monday. The business’s 50-day moving average price is $61.91 and its 200 day moving average price is $56.93. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $25.04 billion, a P/E ratio of 15.23, a P/E/G ratio of 0.47 and a beta of 0.70. Citizens Financial Group has a 1-year low of $32.60 and a 1-year high of $68.79.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, January 21st. The bank reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.02. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.81%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 earnings per share. Analysts expect that Citizens Financial Group will post 3.92 earnings per share for the current year.

Insider Transactions at Citizens Financial Group

In other Citizens Financial Group news, insider Susan Lamonica sold 13,258 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total value of $769,494.32. Following the completion of the sale, the insider owned 165,971 shares in the company, valued at $9,632,956.84. This represents a 7.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.67% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Citizens Financial Group

A number of hedge funds have recently modified their holdings of CFG. Channing Capital Management LLC bought a new position in Citizens Financial Group during the third quarter valued at approximately $7,528,000. Envestnet Asset Management Inc. grew its position in Citizens Financial Group by 25.7% in the third quarter. Envestnet Asset Management Inc. now owns 687,602 shares of the bank’s stock worth $36,553,000 after acquiring an additional 140,641 shares in the last quarter. National Pension Service increased its stake in shares of Citizens Financial Group by 33.5% during the 3rd quarter. National Pension Service now owns 135,208 shares of the bank’s stock worth $7,188,000 after purchasing an additional 33,923 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Citizens Financial Group by 37.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 479,415 shares of the bank’s stock worth $25,284,000 after purchasing an additional 129,995 shares during the last quarter. Finally, Synergy Asset Management LLC bought a new position in shares of Citizens Financial Group during the 3rd quarter valued at $60,434,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.