Morgan Stanley Cuts Citizens Financial Group (NYSE:CFG) Price Target to $54.00

Citizens Financial Group (NYSE:CFG) had its target price reduced by Morgan Stanley from $60.00 to $54.00 in a report published on Thursday,Benzinga reports. They currently have an equal weight rating on the bank’s stock.

A number of other analysts have also recently weighed in on the stock. 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. Truist Financial raised their target price on shares of Citizens Financial Group from $49.00 to $54.00 and gave the company a “hold” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group increased their price objective on Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Barclays boosted their target price on Citizens Financial Group from $47.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Finally, Compass Point increased their price target on Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Nine equities research 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.22.

Citizens Financial Group Stock Up 2.5 %

Shares of NYSE:CFG opened at $40.72 on Thursday. The business has a 50 day simple moving average of $45.46 and a two-hundred day simple moving average of $44.17. The firm has a market capitalization of $17.80 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 0.81 and a beta of 1.06. 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 has a 1 year low of $32.06 and a 1 year high of $49.25.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.96 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 earnings per share. On average, equities analysts predict that Citizens Financial Group will post 3.92 EPS for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend was Friday, January 31st. Citizens Financial Group’s payout ratio is 55.45%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Capital World Investors increased its holdings in Citizens Financial Group by 3.3% in the fourth quarter. Capital World Investors now owns 35,900,115 shares of the bank’s stock valued at $1,570,989,000 after buying an additional 1,131,838 shares in the last quarter. State Street Corp increased its stake in shares of 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 purchasing an additional 1,615,144 shares in the last quarter. Geode Capital Management LLC raised its holdings in Citizens Financial Group by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 10,929,591 shares of the bank’s stock worth $477,043,000 after purchasing an additional 124,860 shares during the period. Wellington Management Group LLP boosted its position in Citizens Financial Group by 27.8% during the fourth quarter. Wellington Management Group LLP now owns 10,570,083 shares of the bank’s stock worth $462,547,000 after purchasing an additional 2,298,040 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in Citizens Financial Group by 20.9% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 9,683,111 shares of the bank’s stock valued at $423,733,000 after purchasing an additional 1,672,204 shares during the period. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Company Profile

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.