Citizens Financial Group (NYSE:CFG) Given New $63.00 Price Target at Truist Financial

Citizens Financial Group (NYSE:CFG) had its price target decreased by Truist Financial from $71.00 to $63.00 in a research report released on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

A number of other research firms have also commented on CFG. Evercore boosted their price objective on Citizens Financial Group from $69.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. The Goldman Sachs Group restated a “buy” rating and issued a $73.00 target price on shares of Citizens Financial Group in a research note on Tuesday, January 6th. Raymond James Financial cut Citizens Financial Group from a “strong-buy” rating to an “outperform” rating and lifted their price target for the company from $62.00 to $66.00 in a report on Wednesday, January 7th. Royal Bank Of Canada increased their price objective on shares of Citizens Financial Group from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, January 22nd. Finally, Argus boosted their target price on shares of Citizens Financial Group from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Twenty investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $69.59.

Citizens Financial Group Stock Performance

CFG opened at $57.99 on Monday. The stock has a market cap of $24.64 billion, a PE ratio of 14.98, a P/E/G ratio of 0.46 and a beta of 0.70. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. Citizens Financial Group has a 1 year low of $32.60 and a 1 year high of $68.79. The stock’s 50 day simple moving average is $61.92 and its 200-day simple moving average is $56.88.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Wednesday, January 21st. The bank reported $1.13 EPS for the quarter, topping the consensus estimate of $1.11 by $0.02. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Citizens Financial Group had a return on equity of 7.81% and a net margin of 15.19%.Citizens Financial Group’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business earned $0.85 earnings per share. Sell-side analysts forecast that Citizens Financial Group will post 3.92 EPS for the current year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th were issued a dividend of $0.46 per share. The ex-dividend date was Wednesday, February 4th. This represents a $1.84 dividend on an annualized basis and a yield of 3.2%. Citizens Financial Group’s payout ratio is currently 47.55%.

Insider Activity

In other Citizens Financial Group news, insider Susan Lamonica sold 13,258 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $58.04, for a total value of $769,494.32. Following the completion of the transaction, the insider directly owned 165,971 shares of the company’s stock, valued at approximately $9,632,956.84. The trade was a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On Citizens Financial Group

A number of hedge funds and other institutional investors have recently bought and sold shares of CFG. Parallel Advisors LLC lifted its position in Citizens Financial Group by 2.9% during the 4th quarter. Parallel Advisors LLC now owns 6,078 shares of the bank’s stock worth $355,000 after buying an additional 172 shares in the last quarter. AA Financial Advisors LLC grew its holdings in shares of Citizens Financial Group by 3.9% in the 4th quarter. AA Financial Advisors LLC now owns 4,657 shares of the bank’s stock valued at $272,000 after acquiring an additional 174 shares in the last quarter. Inscription Capital LLC grew its holdings in shares of Citizens Financial Group by 1.6% in the 4th quarter. Inscription Capital LLC now owns 10,902 shares of the bank’s stock valued at $637,000 after acquiring an additional 175 shares in the last quarter. Clear Harbor Asset Management LLC increased its position in shares of Citizens Financial Group by 0.9% in the fourth quarter. Clear Harbor Asset Management LLC now owns 19,694 shares of the bank’s stock valued at $1,150,000 after acquiring an additional 175 shares during the last quarter. Finally, Grove Bank & Trust increased its position in shares of Citizens Financial Group by 19.8% in the fourth quarter. Grove Bank & Trust now owns 1,107 shares of the bank’s stock valued at $65,000 after acquiring an additional 183 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

About Citizens Financial Group

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.