Evercore ISI Cuts Citizens Financial Group (NYSE:CFG) Price Target to $46.00

Citizens Financial Group (NYSE:CFG) had its target price decreased by investment analysts at Evercore ISI from $47.00 to $46.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “in-line” rating on the bank’s stock. Evercore ISI’s price objective would suggest a potential upside of 14.83% from the company’s current price.

Several other brokerages have also weighed in on CFG. Royal Bank of Canada upped their price objective on Citizens Financial Group from $35.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. UBS Group upped their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Raymond James started coverage on Citizens Financial Group in a report on Thursday, July 11th. They issued a “market perform” rating for the company. Keefe, Bruyette & Woods upped their target price on Citizens Financial Group from $42.00 to $46.00 and gave the company a “market perform” rating in a report on Monday. Finally, Piper Sandler upped their target price on Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Citizens Financial Group presently has an average rating of “Hold” and a consensus price target of $43.07.

Citizens Financial Group Stock Performance

Shares of NYSE:CFG traded up $0.14 on Wednesday, hitting $40.06. The company’s stock had a trading volume of 129,357 shares, compared to its average volume of 5,372,017. Citizens Financial Group has a 12 month low of $22.77 and a 12 month high of $43.96. The company has a market capitalization of $18.23 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 1.43 and a beta of 1.08. The stock’s 50-day moving average is $41.12 and its two-hundred day moving average is $37.49. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.87.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.01). The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.95 billion. Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 EPS. On average, equities research analysts forecast that Citizens Financial Group will post 3.24 EPS for the current year.

Insider Buying and Selling at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $43.26, for a total value of $170,357.88. Following the sale, the insider now owns 33,620 shares of the company’s stock, valued at approximately $1,454,401.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.62% of the company’s stock.

Institutional Trading of Citizens Financial Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital International Investors lifted its position in shares of Citizens Financial Group by 4.4% in the 1st quarter. Capital International Investors now owns 36,709,412 shares of the bank’s stock worth $1,332,185,000 after acquiring an additional 1,552,333 shares during the period. LSV Asset Management lifted its position in shares of Citizens Financial Group by 1.8% in the 2nd quarter. LSV Asset Management now owns 6,580,797 shares of the bank’s stock worth $237,106,000 after acquiring an additional 113,300 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Citizens Financial Group by 15.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,429,264 shares of the bank’s stock worth $159,550,000 after acquiring an additional 587,115 shares during the period. AQR Capital Management LLC lifted its position in shares of Citizens Financial Group by 61.4% in the 2nd quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock worth $155,909,000 after acquiring an additional 1,682,886 shares during the period. Finally, Nordea Investment Management AB lifted its position in shares of Citizens Financial Group by 15.3% in the 1st quarter. Nordea Investment Management AB now owns 3,625,128 shares of the bank’s stock worth $130,722,000 after acquiring an additional 480,129 shares during the period. 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.