Citizens Financial Group (NYSE:CFG) Given New $70.00 Price Target at Truist Financial

Citizens Financial Group (NYSE:CFG) had its target price reduced by Truist Financial from $77.00 to $70.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. Truist Financial’s price target suggests a potential upside of 8.96% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Royal Bank Of Canada reduced their target price on Citizens Financial Group from $79.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday. Raymond James Financial reiterated a “strong-buy” rating on shares of Citizens Financial Group in a report on Friday. Robert W. Baird increased their price target on Citizens Financial Group from $72.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Evercore reissued an “outperform” rating and set a $78.00 price objective on shares of Citizens Financial Group in a research report on Thursday, October 1st. Finally, Barclays raised their price objective on Citizens Financial Group from $77.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.97.

Citizens Financial Group Trading Up 2.4%

Shares of CFG stock traded up $1.49 during trading on Tuesday, hitting $64.25. 1,539,749 shares of the stock traded hands, compared to its average volume of 4,617,435. The firm has a market capitalization of $27.06 billion, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 0.58 and a beta of 0.72. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86. The firm’s fifty day moving average price is $67.83 and its 200-day moving average price is $67.13. Citizens Financial Group has a 52-week low of $49.00 and a 52-week high of $75.33.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Friday, October 16th. The bank reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. During the same period in the prior year, the firm posted $1.05 earnings per share. As a group, research analysts forecast that Citizens Financial Group will post 5.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Citizens Financial Group

In related news, CEO Bruce Van Saun sold 129,369 shares of Citizens Financial Group stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $72.07, for a total value of $9,323,623.83. Following the completion of the sale, the chief executive officer owned 1,140,763 shares in the company, valued at approximately $82,214,789.41. This trade represents a 10.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.67% of the company’s stock.

Institutional Trading of Citizens Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CFG. BlackRock Inc. acquired a new stake in shares of Citizens Financial Group in the second quarter valued at $3,415,046,000. Assenagon Asset Management S.A. grew its stake in shares of Citizens Financial Group by 1,252.4% during the third quarter. Assenagon Asset Management S.A. now owns 9,204,563 shares of the bank’s stock worth $586,883,000 after purchasing an additional 8,523,938 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Citizens Financial Group by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,719,160 shares of the bank’s stock worth $282,927,000 after purchasing an additional 28,602 shares in the last quarter. Amundi increased its holdings in Citizens Financial Group by 31.2% in the second quarter. Amundi now owns 3,685,819 shares of the bank’s stock valued at $258,265,000 after buying an additional 875,666 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in Citizens Financial Group in the second quarter valued at $223,386,000. 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 consumers, small businesses, middle-market companies, large corporations and institutional clients.

The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.