Truist Financial Has Lowered Expectations for Citizens Financial Group (NYSE:CFG) Stock Price

Citizens Financial Group (NYSE:CFG) had its price objective trimmed by Truist Financial from $54.00 to $51.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the bank’s stock.

A number of other research analysts have also issued reports on CFG. Raymond James restated a “strong-buy” rating and issued a $58.00 target price (up from $55.00) on shares of Citizens Financial Group in a report on Tuesday, January 21st. The Goldman Sachs Group upped their target price on shares of Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Stephens reiterated an “overweight” rating and set a $53.00 price objective on shares of Citizens Financial Group in a report on Wednesday, January 29th. Citigroup increased their price objective on shares of Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Keefe, Bruyette & Woods increased their price objective on shares of 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 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.06.

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $41.19 on Friday. The stock has a market cap of $18.00 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 0.81 and a beta of 1.06. Citizens Financial Group has a 52 week low of $32.06 and a 52 week high of $49.25. The company’s 50-day moving average price is $45.12 and its 200 day moving average price is $44.12. 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 (NYSE:CFG) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The firm’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 EPS. As a group, research analysts forecast that Citizens Financial Group will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date was Friday, January 31st. Citizens Financial Group’s payout ratio is currently 55.45%.

Institutional Trading of Citizens Financial Group

Hedge funds have recently made changes to their positions in the stock. Ameriflex Group Inc. acquired a new stake in shares of Citizens Financial Group during the fourth quarter worth approximately $26,000. Ameliora Wealth Management Ltd. acquired a new position in Citizens Financial Group in the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Citizens Financial Group in the fourth quarter worth $28,000. Colonial Trust Co SC boosted its holdings in Citizens Financial Group by 673.0% in the fourth quarter. Colonial Trust Co SC now owns 889 shares of the bank’s stock worth $39,000 after purchasing an additional 774 shares during the period. Finally, Sierra Ocean LLC acquired a new position in Citizens Financial Group in the fourth quarter worth $47,000. Institutional investors and hedge funds 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.