Truist Financial Issues Pessimistic Forecast for Citizens Financial Group (NYSE:CFG) Stock Price

Citizens Financial Group (NYSE:CFG) had its price target cut by investment analysts at Truist Financial from $51.00 to $43.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the bank’s stock. Truist Financial’s price target indicates a potential upside of 21.13% from the stock’s current price.

A number of other brokerages also recently weighed in on CFG. Raymond James reaffirmed a “strong-buy” rating and set a $58.00 price objective (up previously from $55.00) on shares of Citizens Financial Group in a research report on Tuesday, January 21st. Citigroup cut their price target on Citizens Financial Group from $58.00 to $51.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Stephens restated an “overweight” rating and set a $53.00 price objective on shares of Citizens Financial Group in a research note on Wednesday, January 29th. Barclays raised their target price on Citizens Financial Group from $47.00 to $52.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Citizens Financial Group from $49.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.00.

Citizens Financial Group Stock Up 0.1 %

Shares of CFG stock traded up $0.04 on Thursday, hitting $35.50. The stock had a trading volume of 690,630 shares, compared to its average volume of 4,756,709. The stock’s 50 day moving average is $41.36 and its 200-day moving average is $43.66. The firm has a market capitalization of $15.52 billion, a price-to-earnings ratio of 11.73, a P/E/G ratio of 0.81 and a beta of 0.81. Citizens Financial Group has a 52-week low of $32.60 and a 52-week high of $49.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85.

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

Institutional Trading of Citizens Financial Group

Large investors have recently added to or reduced their stakes in the business. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in Citizens Financial Group by 393.8% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 62,343 shares of the bank’s stock worth $2,554,000 after buying an additional 49,718 shares during the last quarter. Sound Income Strategies LLC grew its position in shares of Citizens Financial Group by 3.2% in the first quarter. Sound Income Strategies LLC now owns 222,399 shares of the bank’s stock valued at $9,112,000 after purchasing an additional 6,882 shares during the last quarter. Hennessy Advisors Inc. increased its position in Citizens Financial Group by 50.0% in the 1st quarter. Hennessy Advisors Inc. now owns 15,000 shares of the bank’s stock worth $615,000 after buying an additional 5,000 shares during the period. New England Research & Management Inc. increased its position in Citizens Financial Group by 9.0% during the first quarter. New England Research & Management Inc. now owns 14,837 shares of the bank’s stock worth $608,000 after acquiring an additional 1,225 shares during the period. Finally, CVA Family Office LLC raised its stake in Citizens Financial Group by 26.4% during the 1st quarter. CVA Family Office LLC now owns 1,612 shares of the bank’s stock valued at $66,000 after purchasing an additional 337 shares during the last quarter. 94.90% of the stock is owned by 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.