Citigroup Has Lowered Expectations for Citizens Financial Group (NYSE:CFG) Stock Price

Citizens Financial Group (NYSE:CFG) had its target price cut by investment analysts at Citigroup from $58.00 to $51.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. Citigroup’s target price indicates a potential upside of 20.33% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Stephens reiterated an “overweight” rating and set a $53.00 price objective on shares of Citizens Financial Group in a research report on Wednesday, January 29th. Piper Sandler lifted their price objective on Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Morgan Stanley cut their target price on Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. The Goldman Sachs Group lifted their target price on Citizens Financial Group from $48.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods increased their price target on Citizens Financial Group from $53.00 to $56.00 and gave the stock a “market perform” rating in a report on Tuesday, January 21st. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.67.

Citizens Financial Group Trading Up 2.9 %

Shares of CFG stock traded up $1.19 during trading hours on Monday, hitting $42.38. 704,731 shares of the company’s stock traded hands, compared to its average volume of 4,506,173. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. Citizens Financial Group has a 12 month low of $32.06 and a 12 month high of $49.25. The stock has a market cap of $18.53 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 0.81 and a beta of 1.06. The stock’s 50 day simple moving average is $45.12 and its 200 day simple moving average is $44.12.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.02. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis. On average, sell-side analysts anticipate that Citizens Financial Group will post 3.92 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Ameriflex Group Inc. bought a new stake in Citizens Financial Group in the 4th quarter worth about $26,000. Ameliora Wealth Management Ltd. bought a new position in shares of Citizens Financial Group in the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Citizens Financial Group during the fourth quarter valued at approximately $28,000. Colonial Trust Co SC lifted its holdings in Citizens Financial Group by 673.0% during the fourth quarter. Colonial Trust Co SC now owns 889 shares of the bank’s stock worth $39,000 after acquiring an additional 774 shares during the period. Finally, Sierra Ocean LLC purchased a new position in Citizens Financial Group in the fourth quarter worth $47,000. 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.