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

Citizens Financial Group (NYSE:CFG) had its price objective lowered by research analysts at Cantor Fitzgerald from $84.00 to $78.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 23.10% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Argus set a $80.00 target price on Citizens Financial Group in a research note on Wednesday, July 29th. Jefferies Financial Group lifted 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. Weiss Ratings reissued a “buy (b)” rating on shares of Citizens Financial Group in a report on Monday, August 3rd. DA Davidson restated a “neutral” rating on shares of Citizens Financial Group in a research report on Friday, August 14th. Finally, Barclays upped their target price on Citizens Financial Group from $77.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.08.

Citizens Financial Group Stock Performance

Citizens Financial Group stock opened at $63.36 on Wednesday. The firm’s fifty day moving average price is $68.62 and its 200-day moving average price is $67.00. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market cap of $26.69 billion, a P/E ratio of 13.74, a price-to-earnings-growth ratio of 0.58 and a beta of 0.72. Citizens Financial Group has a fifty-two week low of $47.96 and a fifty-two week high of $75.33.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the previous year, the firm posted $0.92 EPS. The firm’s revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts expect that Citizens Financial Group will post 5.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Citizens Financial Group news, CEO Bruce Van Saun sold 129,369 shares of the company’s 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 completion of the sale, the chief executive officer directly owned 1,140,763 shares in the company, valued at $82,214,789.41. This represents a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.67% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bank of America Corp DE purchased a new position in shares of Citizens Financial Group during the 2nd quarter worth approximately $223,386,000. Freestone Grove Partners LP bought a new position in shares of Citizens Financial Group in the 2nd quarter worth approximately $95,642,000. Junto Capital Management LP raised its position in shares of Citizens Financial Group by 3.3% in the 2nd quarter. Junto Capital Management LP now owns 1,307,340 shares of the bank’s stock worth $91,605,000 after acquiring an additional 42,248 shares in the last quarter. Andra AP fonden lifted its stake in shares of Citizens Financial Group by 94.7% in the 2nd quarter. Andra AP fonden now owns 269,900 shares of the bank’s stock valued at $18,912,000 after purchasing an additional 131,300 shares during the period. Finally, Tidal Investments LLC lifted its stake in shares of Citizens Financial Group by 12.4% in the 2nd quarter. Tidal Investments LLC now owns 145,378 shares of the bank’s stock valued at $10,187,000 after purchasing an additional 16,000 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

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 individuals, families, businesses and institutions through branches, digital channels and other delivery platforms.

The company’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, credit cards, personal loans and other lending products. Through its commercial banking operations, Citizens provides business loans, commercial real estate financing, treasury management, capital markets services and other solutions for companies and institutional clients.