Truist Financial Cuts Citizens Financial Group (NYSE:CFG) Price Target to $43.00

Citizens Financial Group (NYSE:CFG) had its price objective decreased by Truist Financial from $51.00 to $43.00 in a research note released on Thursday,Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

Several other equities analysts have also recently commented on CFG. Stephens reaffirmed an “overweight” rating and issued a $53.00 price target on shares of Citizens Financial Group in a report on Wednesday, January 29th. Barclays lifted their price target on shares of Citizens Financial Group from $47.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods decreased their target price on shares of Citizens Financial Group from $49.00 to $45.00 and set a “market perform” rating on the stock in a research report on Thursday. Morgan Stanley cut their price target on shares of Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Finally, Citigroup cut their target price on Citizens Financial Group from $58.00 to $51.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Citizens Financial Group presently has an average rating of “Moderate Buy” and a consensus price target of $45.82.

Citizens Financial Group Stock Performance

CFG opened at $35.43 on Thursday. The stock has a 50-day moving average of $40.88 and a 200-day moving average of $43.61. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. Citizens Financial Group has a 52-week low of $32.60 and a 52-week high of $49.25. The company has a market cap of $15.49 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 0.81 and a beta of 0.81.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, April 16th. The bank reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. As a group, equities research analysts forecast that Citizens Financial Group will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, April 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.74%. Citizens Financial Group’s payout ratio is currently 53.33%.

Hedge Funds Weigh In On Citizens Financial Group

Hedge funds have recently added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new position in Citizens Financial Group during the 4th quarter valued at about $26,000. Ameliora Wealth Management Ltd. acquired a new position in Citizens Financial Group in the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Citizens Financial Group in the fourth quarter valued at approximately $28,000. Grove Bank & Trust grew its holdings in Citizens Financial Group by 97.1% during the 1st quarter. Grove Bank & Trust now owns 678 shares of the bank’s stock worth $28,000 after acquiring an additional 334 shares during the period. Finally, Colonial Trust Co SC raised its position in shares of Citizens Financial Group by 673.0% during the 4th quarter. Colonial Trust Co SC now owns 889 shares of the bank’s stock valued at $39,000 after acquiring an additional 774 shares during the last quarter. Institutional investors 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.