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

Citizens Financial Group (NYSE:CFG) had its price objective lowered by analysts at Truist Financial from $54.00 to $51.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the bank’s stock. Truist Financial’s price target would suggest a potential upside of 23.83% from the stock’s previous close.

Several other analysts also recently commented on CFG. The Goldman Sachs Group raised their price objective on shares of Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Citigroup raised their price objective on shares of Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Raymond James reiterated a “strong-buy” rating and issued a $58.00 price target (up from $55.00) on shares of Citizens Financial Group in a report on Tuesday, January 21st. Piper Sandler lifted their price target on shares of Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Stephens reiterated an “overweight” rating and issued a $53.00 price target on shares of Citizens Financial Group in a report on Wednesday, January 29th. Nine 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.06.

Citizens Financial Group Stock Up 0.5 %

CFG opened at $41.19 on Friday. The company has a market capitalization of $18.00 billion, a PE ratio of 13.59, a PEG ratio of 0.81 and a beta of 1.06. Citizens Financial Group has a 1-year low of $32.06 and a 1-year high of $49.25. The firm’s 50 day simple moving average is $45.12 and its two-hundred day simple moving average is $44.11. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56.

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

Hedge Funds Weigh In On Citizens Financial Group

A number of institutional investors and hedge funds have recently made changes to their positions in CFG. Ameriflex Group Inc. purchased a new position in shares of Citizens Financial Group during the 4th quarter worth about $26,000. Ameliora Wealth Management Ltd. purchased a new position in shares of Citizens Financial Group during the 4th quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Citizens Financial Group during the 4th quarter worth about $28,000. Colonial Trust Co SC boosted its stake in shares of Citizens Financial Group by 673.0% during the 4th quarter. Colonial Trust Co SC now owns 889 shares of the bank’s stock worth $39,000 after purchasing an additional 774 shares during the period. Finally, Sierra Ocean LLC purchased a new position in shares of Citizens Financial Group during the 4th quarter worth about $47,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

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.