Truist Financial Forecasts Strong Price Appreciation for Citizens Financial Group (NYSE:CFG) Stock

Citizens Financial Group (NYSE:CFG) had its target price raised by research analysts at Truist Financial from $49.00 to $54.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the bank’s stock. Truist Financial’s price objective points to a potential upside of 11.71% from the company’s current price.

CFG has been the subject of several other research reports. Barclays raised their target price on Citizens Financial Group from $47.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Citigroup raised their target price on Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Keefe, Bruyette & Woods lifted their price objective on Citizens Financial Group from $53.00 to $56.00 and gave the company a “market perform” rating in a research report on Tuesday. The Goldman Sachs Group lifted their price objective on Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Raymond James reiterated a “strong-buy” rating and issued a $58.00 price objective (up previously from $55.00) on shares of Citizens Financial Group in a research report on Tuesday. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Citizens Financial Group currently 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 during mid-day trading on Tuesday, reaching $48.34. The stock had a trading volume of 1,281,858 shares, compared to its average volume of 3,813,867. The firm’s 50 day simple moving average is $45.66 and its 200 day simple moving average is $42.79. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. Citizens Financial Group has a one year low of $30.24 and a one year high of $49.25. The firm has a market cap of $21.30 billion, a PE ratio of 15.96, a P/E/G ratio of 1.41 and a beta of 1.10.

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

Institutional Trading of Citizens Financial Group

A number of institutional investors have recently modified their holdings of CFG. Wellington Management Group LLP lifted its holdings in shares of Citizens Financial Group by 207.2% in the third quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock valued at $339,733,000 after purchasing an additional 5,579,313 shares in the last quarter. AQR Capital Management LLC raised its holdings in Citizens Financial Group by 61.4% during the second 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 in the last quarter. State Street Corp increased its position in Citizens Financial Group by 6.7% during the third quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock worth $1,060,689,000 after buying an additional 1,615,144 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Citizens Financial Group by 85.6% during the third quarter. Assenagon Asset Management S.A. now owns 2,043,650 shares of the bank’s stock worth $83,933,000 after buying an additional 942,662 shares during the last quarter. Finally, Bank of Montreal Can increased its position in Citizens Financial Group by 51.1% during the third quarter. Bank of Montreal Can now owns 2,644,542 shares of the bank’s stock worth $107,897,000 after buying an additional 894,322 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors.

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.