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

Stock analysts at Truist Financial assumed coverage on shares of Citizens Financial Group (NYSE:CFG) in a note issued to investors on Tuesday,Benzinga reports. The brokerage set a “hold” rating and a $49.00 price target on the bank’s stock. Truist Financial’s price objective suggests a potential upside of 9.45% from the stock’s current price.

CFG has been the subject of a number of other reports. Barclays boosted their price target on Citizens Financial Group from $47.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday. Royal Bank of Canada boosted their target price on shares of Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Evercore ISI decreased their price target on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 2nd. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Piper Sandler upped their price objective on shares of Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.78.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $44.77 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $45.41 and a two-hundred day moving average price of $42.16. Citizens Financial Group has a twelve month low of $30.24 and a twelve month high of $49.25. The company has a market capitalization of $19.73 billion, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 1.76 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, meeting the consensus estimate of $0.79. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The business 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 business earned $0.85 earnings per share. The company’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, research analysts expect that Citizens Financial Group will post 3.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Citizens Financial Group

Large investors have recently made changes to their positions in the business. Commerce Bank boosted its position in Citizens Financial Group by 1.9% during the 3rd quarter. Commerce Bank now owns 13,177 shares of the bank’s stock worth $541,000 after purchasing an additional 250 shares during the period. Versant Capital Management Inc boosted its position in shares of Citizens Financial Group by 17.4% in the fourth quarter. Versant Capital Management Inc now owns 1,685 shares of the bank’s stock worth $74,000 after buying an additional 250 shares during the period. Cullen Frost Bankers Inc. grew its stake in shares of Citizens Financial Group by 12.7% in the second quarter. Cullen Frost Bankers Inc. now owns 2,344 shares of the bank’s stock valued at $84,000 after buying an additional 264 shares in the last quarter. Cobblestone Capital Advisors LLC NY raised its holdings in shares of Citizens Financial Group by 2.5% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 11,395 shares of the bank’s stock valued at $468,000 after buying an additional 280 shares during the period. Finally, ZWJ Investment Counsel Inc. lifted its position in Citizens Financial Group by 0.3% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 88,829 shares of the bank’s stock worth $3,648,000 after acquiring an additional 308 shares in the last quarter. 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.