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

Citizens Financial Group (NYSE:CFG) had its target price lowered by research analysts at Barclays from $52.00 to $49.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Barclays‘s price objective indicates a potential upside of 38.31% from the stock’s current price.

Several other analysts have also commented on the company. Truist Financial dropped their price objective on Citizens Financial Group from $51.00 to $43.00 and set a “hold” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods dropped their price target on shares of Citizens Financial Group from $49.00 to $45.00 and set a “market perform” rating on the stock in a research note on Thursday. Citigroup reduced their price objective on shares of Citizens Financial Group from $58.00 to $51.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Raymond James reiterated a “strong-buy” rating and issued a $58.00 target price (up previously from $55.00) on shares of Citizens Financial Group in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. cut their price objective on Citizens Financial Group from $49.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Citizens Financial Group has an average rating of “Moderate Buy” and an average price target of $45.82.

Citizens Financial Group Price Performance

NYSE:CFG opened at $35.43 on Thursday. 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 company has a 50 day moving average price of $40.88 and a 200-day moving average price of $43.59. Citizens Financial Group has a 1-year low of $32.60 and a 1-year high of $49.25. The firm has a market cap of $15.49 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 0.81 and a beta of 0.81.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Wednesday, April 16th. The bank reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Equities research analysts forecast that Citizens Financial Group will post 3.92 EPS for the current year.

Hedge Funds Weigh In On Citizens Financial Group

Several hedge funds have recently bought and sold shares of CFG. Capital World Investors grew its position in Citizens Financial Group by 3.3% in the 4th quarter. Capital World Investors now owns 35,900,115 shares of the bank’s stock valued at $1,570,989,000 after acquiring an additional 1,131,838 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Citizens Financial Group by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 10,929,591 shares of the bank’s stock valued at $477,043,000 after purchasing an additional 124,860 shares in the last quarter. Wellington Management Group LLP increased its stake in Citizens Financial Group by 27.8% during the 4th quarter. Wellington Management Group LLP now owns 10,570,083 shares of the bank’s stock worth $462,547,000 after buying an additional 2,298,040 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in Citizens Financial Group by 20.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 9,683,111 shares of the bank’s stock worth $423,733,000 after buying an additional 1,672,204 shares during the period. Finally, Royal Bank of Canada lifted its holdings in Citizens Financial Group by 6.4% during the 4th quarter. Royal Bank of Canada now owns 6,247,238 shares of the bank’s stock worth $273,378,000 after buying an additional 374,850 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

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.