Citizens Financial Group (NYSE:CFG) Price Target Cut to $54.00 by Analysts at Morgan Stanley

Citizens Financial Group (NYSE:CFG) had its price target decreased by stock analysts at Morgan Stanley from $60.00 to $54.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the bank’s stock. Morgan Stanley’s target price would indicate a potential upside of 34.78% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Stephens reissued an “overweight” rating and set a $53.00 target price on shares of Citizens Financial Group in a research report on Wednesday, January 29th. Barclays increased their price objective 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. Raymond James restated a “strong-buy” rating and set a $58.00 target price (up previously from $55.00) on shares of Citizens Financial Group in a report on Tuesday, January 21st. Truist Financial increased their price target on Citizens Financial Group from $49.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, January 21st. Finally, Citigroup raised their price target on shares of Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.22.

Citizens Financial Group Price Performance

Citizens Financial Group stock traded down $0.40 during midday trading on Thursday, reaching $40.07. 1,495,705 shares of the company were exchanged, compared to its average volume of 4,071,405. 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 $45.62 and its 200-day simple moving average is $44.20. The company has a market capitalization of $17.51 billion, a price-to-earnings ratio of 13.23, a P/E/G 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 (NYSE:CFG) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The company had revenue of $1.99 billion during 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 quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 EPS. On average, analysts anticipate that Citizens Financial Group will post 3.92 EPS for the current year.

Institutional Investors Weigh In On Citizens Financial Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new position in shares of Citizens Financial Group in the third quarter valued at $27,000. Venturi Wealth Management LLC raised its position in shares of Citizens Financial Group by 174.8% during the third quarter. Venturi Wealth Management LLC now owns 4,076 shares of the bank’s stock worth $167,000 after purchasing an additional 2,593 shares during the period. Apollon Wealth Management LLC lifted its holdings in shares of Citizens Financial Group by 46.0% during the third quarter. Apollon Wealth Management LLC now owns 22,173 shares of the bank’s stock valued at $911,000 after purchasing an additional 6,989 shares during the last quarter. MQS Management LLC purchased a new stake in shares of Citizens Financial Group during the third quarter valued at $261,000. Finally, Curi RMB Capital LLC boosted its position in shares of Citizens Financial Group by 2.0% in the 3rd quarter. Curi RMB Capital LLC now owns 187,776 shares of the bank’s stock valued at $7,712,000 after purchasing an additional 3,636 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.