Citigroup Lowers Citizens Financial Group (NYSE:CFG) Price Target to $51.00

Citizens Financial Group (NYSE:CFG) had its price target reduced by equities researchers at Citigroup from $58.00 to $51.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. Citigroup’s price target points to a potential upside of 20.74% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley dropped their price objective on Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. The Goldman Sachs Group boosted their price objective on shares of Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Raymond James reissued a “strong-buy” rating and set a $58.00 price target (up from $55.00) on shares of Citizens Financial Group in a research report on Tuesday, January 21st. Truist Financial dropped their price objective on Citizens Financial Group from $54.00 to $51.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. Finally, Keefe, Bruyette & Woods boosted their target price on Citizens Financial Group from $53.00 to $56.00 and gave the company a “market perform” rating in a research note on Tuesday, January 21st. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.67.

Citizens Financial Group Price Performance

Shares of CFG stock opened at $42.24 on Monday. The firm has a market cap of $18.46 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 0.81 and a beta of 1.06. Citizens Financial Group has a 12 month low of $32.06 and a 12 month high of $49.25. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $45.01 and a 200 day moving average price of $44.14.

Citizens Financial Group (NYSE:CFG) last issued its quarterly 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. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the company earned $0.85 EPS. Citizens Financial Group’s revenue was down .1% on a year-over-year basis. Research analysts expect that Citizens Financial Group will post 3.92 EPS for the current year.

Institutional Trading of Citizens Financial Group

A number of large investors have recently added to or reduced their stakes in CFG. Wellington Management Group LLP lifted its stake in Citizens Financial Group by 207.2% in the 3rd quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock valued at $339,733,000 after purchasing an additional 5,579,313 shares during the last quarter. Norges Bank acquired a new stake in shares of Citizens Financial Group in the fourth quarter valued at approximately $243,431,000. Fuller & Thaler Asset Management Inc. increased its holdings in shares of 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 acquiring an additional 1,672,204 shares during the last quarter. State Street Corp raised its stake in Citizens Financial Group by 6.7% in the 3rd quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock valued at $1,060,689,000 after acquiring an additional 1,615,144 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Citizens Financial Group by 32.2% during the 4th quarter. AQR Capital Management LLC now owns 6,186,364 shares of the bank’s stock valued at $270,715,000 after purchasing an additional 1,507,536 shares during 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.