The Goldman Sachs Group Lowers Citizens Financial Group (NYSE:CFG) Price Target to $48.00

Citizens Financial Group (NYSE:CFG) had its target price cut by equities research analysts at The Goldman Sachs Group from $55.00 to $48.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 33.66% from the stock’s current price.

Several other research analysts have also issued reports on the stock. DA Davidson reduced their target price on shares of Citizens Financial Group from $53.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday. Barclays lowered their target price 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. Morgan Stanley reduced their price target on Citizens Financial Group from $54.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Monday, April 7th. The firm moved its midcap bank industry view from Attractive to In-line, saying “higher and faster than expected” tariffs raise recession risks, will weigh on loan growth and in-turn, forward earnings and multiples. The group is “cheap,” but weaker for longer loan growth and inverted yield curve limit upside catalysts. Royal Bank of Canada cut their target price on Citizens Financial Group from $50.00 to $44.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Raymond James restated a “strong-buy” rating and set a $48.00 target price (down from $58.00) on shares of Citizens Financial Group in a research report on Thursday. Nine equities 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.22.

Citizens Financial Group Price Performance

CFG stock traded up $0.45 during midday trading on Thursday, reaching $35.91. 2,506,212 shares of the company’s stock traded hands, compared to its average volume of 4,799,636. 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 $15.70 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 0.81 and a beta of 0.81. The company has a 50-day simple moving average of $41.36 and a two-hundred day simple moving average of $43.66. Citizens Financial Group has a 1-year low of $32.60 and a 1-year high of $49.25.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, April 16th. The bank reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. On average, analysts anticipate that Citizens Financial Group will post 3.92 earnings per share for the current year.

Institutional Investors Weigh In On Citizens Financial Group

Large investors have recently made changes to their positions in the stock. Asio Capital LLC grew its position in shares of Citizens Financial Group by 2.3% in the 1st quarter. Asio Capital LLC now owns 103,879 shares of the bank’s stock valued at $4,256,000 after acquiring an additional 2,338 shares during the period. Brighton Jones LLC acquired a new position in Citizens Financial Group during the first quarter worth approximately $213,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in Citizens Financial Group by 393.8% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 62,343 shares of the bank’s stock valued at $2,554,000 after buying an additional 49,718 shares during the period. Sound Income Strategies LLC lifted 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 buying an additional 6,882 shares during the last quarter. Finally, Hennessy Advisors Inc. boosted its stake in shares of Citizens Financial Group by 50.0% during the 1st quarter. Hennessy Advisors Inc. now owns 15,000 shares of the bank’s stock worth $615,000 after acquiring an additional 5,000 shares during the period. 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.