Truist Financial Begins Coverage on Citizens Financial Group (NYSE:CFG)

Truist Financial started coverage on shares of Citizens Financial Group (NYSE:CFG) in a report released on Tuesday,Benzinga reports. The brokerage set a “hold” rating and a $49.00 price target on the bank’s stock. Truist Financial’s target price would suggest a potential upside of 9.45% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Raymond James upgraded shares of Citizens Financial Group from a “market perform” rating to a “strong-buy” rating and set a $55.00 price objective on the stock in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods increased their price target on shares of Citizens Financial Group from $46.00 to $53.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. DA Davidson boosted their price objective on Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, October 17th. The Goldman Sachs Group upped their price objective on Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Nine equities 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $47.78.

Citizens Financial Group Trading Up 0.2 %

NYSE:CFG opened at $44.77 on Tuesday. The stock has a market cap of $19.73 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 1.76 and a beta of 1.10. Citizens Financial Group has a one year low of $30.24 and a one year high of $49.25. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87. The business’s 50-day simple moving average is $45.41 and its 200 day simple moving average is $42.16.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.79. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the company posted $0.85 EPS. Citizens Financial Group’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, sell-side analysts predict that Citizens Financial Group will post 3.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Citizens Financial Group

A number of hedge funds have recently made changes to their positions in the business. First Hawaiian Bank raised its stake in Citizens Financial Group by 26.5% during the 4th quarter. First Hawaiian Bank now owns 30,191 shares of the bank’s stock valued at $1,321,000 after acquiring an additional 6,332 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Citizens Financial Group by 19.3% during the fourth quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank’s stock valued at $217,781,000 after purchasing an additional 805,758 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Citizens Financial Group by 8.8% in the fourth quarter. GAMMA Investing LLC now owns 12,285 shares of the bank’s stock worth $538,000 after purchasing an additional 997 shares during the period. Versant Capital Management Inc grew its position in Citizens Financial Group by 17.4% in the 4th quarter. Versant Capital Management Inc now owns 1,685 shares of the bank’s stock valued at $74,000 after buying an additional 250 shares in the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new position in Citizens Financial Group during the 3rd quarter valued at about $590,000. Institutional investors 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.