Citizens Financial Group (NYSE:CFG) Given New $63.00 Price Target at Truist Financial

Citizens Financial Group (NYSE:CFG) had its target price lowered by Truist Financial from $71.00 to $63.00 in a report released on Monday,Benzinga reports. The firm presently has a “hold” rating on the bank’s stock. Truist Financial’s price objective would suggest a potential upside of 6.95% from the stock’s current price.

Several other research analysts have also weighed in on the stock. Royal Bank Of Canada raised their price objective on shares of Citizens Financial Group from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, January 22nd. Raymond James Financial cut shares of Citizens Financial Group from a “strong-buy” rating to an “outperform” rating and increased their price target for the stock from $62.00 to $66.00 in a research report on Wednesday, January 7th. Evercore lifted their price target on Citizens Financial Group from $69.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. The Goldman Sachs Group restated a “buy” rating and set a $73.00 price objective on shares of Citizens Financial Group in a research note on Tuesday, January 6th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 target price on shares of Citizens Financial Group in a report on Wednesday, January 21st. Twenty research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.59.

Citizens Financial Group Stock Up 3.3%

CFG stock traded up $1.89 during midday trading on Monday, hitting $58.91. 474,298 shares of the company’s stock were exchanged, compared to its average volume of 5,469,722. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. Citizens Financial Group has a 12-month low of $32.60 and a 12-month high of $68.79. The firm has a 50 day moving average price of $61.97 and a 200-day moving average price of $56.84. The stock has a market capitalization of $25.03 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 0.46 and a beta of 0.70.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, January 21st. The bank reported $1.13 EPS for the quarter, beating the consensus estimate of $1.11 by $0.02. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Citizens Financial Group had a return on equity of 7.81% and a net margin of 15.19%.The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 EPS. On average, analysts anticipate that Citizens Financial Group will post 3.92 EPS for the current year.

Insiders Place Their Bets

In other Citizens Financial Group news, insider Susan Lamonica sold 13,258 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total value of $769,494.32. Following the transaction, the insider owned 165,971 shares of the company’s stock, valued at $9,632,956.84. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.67% of the stock is currently owned by company insiders.

Institutional Trading of Citizens Financial Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its stake in Citizens Financial Group by 2.4% during the 1st quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock worth $472,000 after buying an additional 274 shares during the last quarter. Empowered Funds LLC grew its position in shares of Citizens Financial Group by 6.7% during the first quarter. Empowered Funds LLC now owns 8,838 shares of the bank’s stock worth $362,000 after acquiring an additional 554 shares during the last quarter. Woodline Partners LP lifted its position in Citizens Financial Group by 39.5% in the 1st quarter. Woodline Partners LP now owns 36,932 shares of the bank’s stock valued at $1,513,000 after purchasing an additional 10,466 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in Citizens Financial Group by 93.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank’s stock valued at $439,000 after purchasing an additional 4,739 shares during the period. Finally, Personal CFO Solutions LLC bought a new position in Citizens Financial Group in the 2nd quarter worth about $205,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.