Citizens Financial Group (NYSE:CFG) Price Target Cut to $48.00 by Analysts at The Goldman Sachs Group

Citizens Financial Group (NYSE:CFG) had its target price reduced by The Goldman Sachs Group from $55.00 to $48.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a buy rating on the bank’s stock.

Several other research firms have also weighed in on CFG. Keefe, Bruyette & Woods decreased their price objective on shares of Citizens Financial Group from $49.00 to $45.00 and set a “market perform” rating for the company in a report on Thursday. Barclays decreased their price target on shares of Citizens Financial Group from $52.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday. DA Davidson dropped their price objective on Citizens Financial Group from $53.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday. Truist Financial decreased their target price on Citizens Financial Group from $51.00 to $43.00 and set a “hold” rating for the company in a research note on Thursday. Finally, Stephens dropped their price target on Citizens Financial Group from $53.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, April 7th. Nine 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 company. According to data from MarketBeat.com, Citizens Financial Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.22.

Citizens Financial Group Stock Performance

CFG stock opened at $35.43 on Thursday. Citizens Financial Group has a twelve month low of $32.60 and a twelve 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 company has a market cap of $15.49 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 0.81 and a beta of 0.81. The business’s fifty day moving average is $41.12 and its 200-day moving average is $43.62.

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

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.74%. Citizens Financial Group’s dividend payout ratio is 53.33%.

Institutional Investors Weigh In On Citizens Financial Group

Several large investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in Citizens Financial Group during the fourth quarter worth $243,431,000. Wellington Management Group LLP increased its stake in shares of Citizens Financial Group by 27.8% during the 4th 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 during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Citizens Financial Group by 20.9% in the 4th 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. AQR Capital Management LLC lifted its stake in Citizens Financial Group by 32.2% in 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. Finally, Raymond James Financial Inc. bought a new position in Citizens Financial Group during the fourth quarter worth about $56,483,000. 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.