Citizens Financial Group (NYSE:CFG) Price Target Lowered to $51.00 at Truist Financial

Citizens Financial Group (NYSE:CFG) had its price target reduced by Truist Financial from $54.00 to $51.00 in a research report sent to investors on Friday morning,Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

Other research analysts also recently issued research reports about the stock. Morgan Stanley cut their price target on shares of Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Piper Sandler raised their target price on Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Stephens reiterated an “overweight” rating and set a $53.00 price target on shares of Citizens Financial Group in a research note on Wednesday, January 29th. Raymond James reissued a “strong-buy” rating and issued a $58.00 price objective (up from $55.00) on shares of Citizens Financial Group in a research note on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods boosted their target price 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 equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and an average price target of $49.06.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $41.19 on Friday. The business has a fifty day simple moving average of $45.12 and a 200 day simple moving average of $44.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. Citizens Financial Group has a 1 year low of $32.06 and a 1 year high of $49.25. The firm has a market cap of $18.00 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 0.81 and a beta of 1.06.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) 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 business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the company earned $0.85 EPS. The firm’s revenue was down .1% on a year-over-year basis. As a group, sell-side analysts predict that Citizens Financial Group will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.42 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.68 annualized dividend and a yield of 4.08%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 55.45%.

Institutional Investors Weigh In On Citizens Financial Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Ameriflex Group Inc. bought a new position in shares of Citizens Financial Group during the 4th quarter worth about $26,000. Ameliora Wealth Management Ltd. bought a new position in Citizens Financial Group during the fourth quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Citizens Financial Group during the fourth quarter worth about $28,000. Colonial Trust Co SC grew its stake in shares of Citizens Financial Group by 673.0% in the 4th quarter. Colonial Trust Co SC now owns 889 shares of the bank’s stock valued at $39,000 after purchasing an additional 774 shares during the period. Finally, Sierra Ocean LLC acquired a new position in shares of Citizens Financial Group in the 4th quarter worth approximately $47,000. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Company Profile

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.