Citizens Financial Group (NYSE:CFG) Stock Price Target Cut by Citigroup

Citizens Financial Group (NYSE:CFG) had its price target reduced by investment analysts at Citigroup from $84.00 to $74.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. Citigroup’s price objective suggests a potential upside of 15.18% from the stock’s current price.

Other analysts have also issued research reports about the company. Jefferies Financial Group raised their price target on Citizens Financial Group from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. UBS Group decreased their price target on shares of Citizens Financial Group from $82.00 to $77.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Stephens lowered their price objective on shares of Citizens Financial Group from $70.00 to $65.00 and set an “equal weight” rating for the company in a report on Tuesday. Truist Financial cut their price objective on Citizens Financial Group from $77.00 to $70.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, TD Cowen began coverage on Citizens Financial Group in a report on Thursday, October 8th. They set a “buy” rating and a $75.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.47.

Citizens Financial Group Trading Up 2.4%

Citizens Financial Group stock traded up $1.49 during trading hours on Tuesday, reaching $64.25. The company had a trading volume of 2,814,402 shares, compared to its average volume of 4,625,540. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86. The company has a 50-day moving average price of $67.83 and a 200 day moving average price of $67.13. The firm has a market cap of $27.06 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 0.58 and a beta of 0.72. Citizens Financial Group has a 12-month low of $49.00 and a 12-month high of $75.33.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Friday, October 16th. The bank reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.34 billion. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. During the same quarter in the prior year, the firm posted $1.05 earnings per share. Equities analysts forecast that Citizens Financial Group will post 5.29 earnings per share for the current year.

Insider Transactions at Citizens Financial Group

In related news, CEO Bruce Van Saun sold 129,369 shares of the stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following the sale, the chief executive officer directly owned 1,140,763 shares of the company’s stock, valued at approximately $82,214,789.41. This represents a 10.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Citizens Financial Group

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Citizens Financial Group during the 2nd quarter valued at $3,415,046,000. Assenagon Asset Management S.A. grew its position in shares of Citizens Financial Group by 1,252.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 9,204,563 shares of the bank’s stock valued at $586,883,000 after acquiring an additional 8,523,938 shares during the period. Bank of America Corp DE purchased a new stake in shares of Citizens Financial Group in the 2nd quarter worth $223,386,000. Legal & General Group Plc purchased a new stake in shares of Citizens Financial Group in the 2nd quarter worth $207,234,000. Finally, Nykredit A S purchased a new stake in shares of Citizens Financial Group in the 2nd quarter worth $188,380,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to consumers, small businesses, middle-market companies, large corporations and institutional clients.

The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.