Citizens Financial Group (NYSE:CFG) Stock Gets Price Target Reduction from Truist Financial

Citizens Financial Group (NYSE:CFG) had its price objective decreased by Truist Financial from $77.00 to $70.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. Truist Financial’s target price suggests a potential upside of 8.96% from the company’s current price.

Several other analysts also recently weighed in on the stock. DA Davidson set a $82.00 price objective on shares of Citizens Financial Group in a research report on Monday. Raymond James Financial restated a “strong-buy” rating on shares of Citizens Financial Group in a report on Friday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citizens Financial Group in a research report on Monday, August 3rd. Citigroup increased their target price on shares of Citizens Financial Group from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Finally, Argus set a $80.00 price target on shares of Citizens Financial Group in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.97.

Citizens Financial Group Stock Up 2.4%

CFG stock traded up $1.49 during trading on Tuesday, hitting $64.25. 1,539,749 shares of the company’s stock were exchanged, compared to its average volume of 4,617,435. The business has a 50-day moving average price of $67.83 and a two-hundred day moving average price of $67.13. The stock has a market capitalization of $27.06 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 0.58 and a beta of 0.72. Citizens Financial Group has a 52-week low of $49.00 and a 52-week high of $75.33. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.74.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.34 billion. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. During the same period in the prior year, the company posted $1.05 earnings per share. As a group, equities research analysts expect that Citizens Financial Group will post 5.29 EPS for the current year.

Insider Transactions at Citizens Financial Group

In other Citizens Financial Group news, CEO Bruce Van Saun sold 129,369 shares of Citizens Financial Group stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following the transaction, the chief executive officer owned 1,140,763 shares of the company’s stock, valued at $82,214,789.41. The trade was a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.67% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Citizens Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE acquired a new position in shares of Citizens Financial Group in the 2nd quarter valued at $223,386,000. Freestone Grove Partners LP purchased a new stake in Citizens Financial Group in the 2nd quarter valued at $95,642,000. Tidal Investments LLC raised its position in Citizens Financial Group by 12.4% in the 2nd quarter. Tidal Investments LLC now owns 145,378 shares of the bank’s stock valued at $10,187,000 after purchasing an additional 16,000 shares during the last quarter. Junto Capital Management LP boosted its stake in Citizens Financial Group by 3.3% during the 2nd quarter. Junto Capital Management LP now owns 1,307,340 shares of the bank’s stock worth $91,605,000 after purchasing an additional 42,248 shares during the period. Finally, Andra AP fonden boosted its stake in Citizens Financial Group by 94.7% during the 2nd quarter. Andra AP fonden now owns 269,900 shares of the bank’s stock worth $18,912,000 after purchasing an additional 131,300 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to consumers, small businesses, middle-market companies, large corporations and institutional clients.

The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.