Citizens Financial Group (NYSE:CFG) Given New $54.00 Price Target at Truist Financial

Citizens Financial Group (NYSE:CFG) had its target price raised by stock analysts at Truist Financial from $49.00 to $54.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. Truist Financial’s price target would indicate a potential upside of 11.71% from the company’s previous close.

Several other equities research analysts also recently weighed in on CFG. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods lifted 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. Compass Point upped their target price on Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Piper Sandler upped 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. Finally, Evercore ISI reduced their target price on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a report on Wednesday, October 2nd. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $48.39.

Citizens Financial Group Stock Performance

Shares of CFG stock traded up $0.80 on Tuesday, hitting $48.34. 1,281,858 shares of the stock traded hands, compared to its average volume of 3,813,867. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $21.30 billion, a PE ratio of 15.96, a PEG ratio of 1.41 and a beta of 1.10. Citizens Financial Group has a 1-year low of $30.24 and a 1-year high of $49.25. The company’s fifty day moving average is $45.66 and its 200 day moving average is $42.79.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.02. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1,962,330 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the company earned $0.85 earnings per share. On average, equities research analysts predict that Citizens Financial Group will post 3.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Citizens Financial Group during the 4th quarter valued at about $8,134,000. Versor Investments LP acquired a new position in shares of Citizens Financial Group during the 3rd quarter valued at about $1,910,000. Nordea Investment Management AB increased its holdings in shares of Citizens Financial Group by 19.3% during the 4th quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank’s stock valued at $217,781,000 after acquiring an additional 805,758 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Citizens Financial Group by 4.8% during the 3rd quarter. Franklin Resources Inc. now owns 655,600 shares of the bank’s stock valued at $28,368,000 after acquiring an additional 29,940 shares during the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new position in shares of Citizens Financial Group during the 3rd quarter valued at about $590,000. 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.