Truist Financial Cuts Citizens Financial Group (NYSE:CFG) Price Target to $63.00

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

CFG has been the topic of several other research reports. Argus boosted their target price on Citizens Financial Group from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. increased their price target on Citizens Financial Group from $62.50 to $71.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. DA Davidson boosted their price objective on Citizens Financial Group from $65.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods upped their price objective on Citizens Financial Group from $68.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 22nd. Finally, Morgan Stanley lifted their target price on Citizens Financial Group from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Twenty analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Citizens Financial Group presently has an average rating of “Moderate Buy” and an average target price of $69.59.

Citizens Financial Group Price Performance

CFG stock traded up $1.89 during trading on Monday, hitting $58.91. The company had a trading volume of 474,298 shares, compared to its average volume of 5,469,722. The business has a 50 day moving average of $61.97 and a 200 day moving average of $56.84. The firm has a market capitalization of $25.03 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 0.46 and a beta of 0.70. 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 fifty-two week low of $32.60 and a fifty-two week high of $68.79.

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 firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.81%. Citizens Financial Group’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. As a group, research analysts predict that Citizens Financial Group will post 3.92 earnings per share for the current year.

Insider Buying and Selling at Citizens Financial Group

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

Hedge Funds Weigh In On Citizens Financial Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Citizens Financial Group in the fourth quarter worth about $26,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of Citizens Financial Group during the fourth quarter valued at approximately $29,000. Activest Wealth Management lifted its position in shares of Citizens Financial Group by 5,600.0% in the 4th quarter. Activest Wealth Management now owns 513 shares of the bank’s stock valued at $30,000 after acquiring an additional 504 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Citizens Financial Group by 891.5% in the 3rd quarter. True Wealth Design LLC now owns 585 shares of the bank’s stock valued at $31,000 after acquiring an additional 526 shares in the last quarter. Finally, DV Equities LLC acquired a new position in Citizens Financial Group in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

About Citizens Financial Group

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.