Truist Financial Increases Citizens Financial Group (NYSE:CFG) Price Target to $54.00

Citizens Financial Group (NYSE:CFG) had its price target lifted by investment analysts at Truist Financial from $49.00 to $54.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. Truist Financial’s price target would suggest a potential upside of 14.76% from the stock’s current price.

CFG has been the subject of a number of other reports. Barclays increased their target price on shares of Citizens Financial Group from $47.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Piper Sandler lifted their price objective on Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Evercore ISI lowered their target price on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods lifted their price target on Citizens Financial Group from $53.00 to $56.00 and gave the stock a “market perform” rating in a research note on Tuesday. Finally, DA Davidson increased their price objective on shares of Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. 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 stock. Based on data from MarketBeat.com, Citizens Financial Group currently has an average rating of “Moderate Buy” and an average price target of $49.00.

Citizens Financial Group Stock Down 2.6 %

Citizens Financial Group stock opened at $47.06 on Tuesday. The stock’s 50 day moving average price is $45.70 and its 200 day moving average price is $42.88. Citizens Financial Group has a 1-year low of $30.24 and a 1-year high of $49.25. The company has a market cap of $20.74 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.42 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, January 17th. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1,962,330 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The business’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 EPS. On average, sell-side analysts predict that Citizens Financial Group will post 3.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CFG. Wellington Management Group LLP increased its position in Citizens Financial Group by 207.2% during the third quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock worth $339,733,000 after purchasing an additional 5,579,313 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Citizens Financial Group by 61.4% during the 2nd quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock valued at $155,909,000 after buying an additional 1,682,886 shares during the period. State Street Corp increased its holdings in shares of Citizens Financial Group by 6.7% during the 3rd quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock worth $1,060,689,000 after buying an additional 1,615,144 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Citizens Financial Group by 85.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,043,650 shares of the bank’s stock worth $83,933,000 after buying an additional 942,662 shares during the period. Finally, Bank of Montreal Can grew its position in Citizens Financial Group by 51.1% during the third quarter. Bank of Montreal Can now owns 2,644,542 shares of the bank’s stock valued at $107,897,000 after acquiring an additional 894,322 shares during the period. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

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.