Morgan Stanley Has Lowered Expectations for Citizens Financial Group (NYSE:CFG) Stock Price

Citizens Financial Group (NYSE:CFG) had its price target lowered by investment analysts at Morgan Stanley from $90.00 to $89.00 in a research report issued on Monday, MarketBeat reports. The firm presently has an “overweight” rating on the bank’s stock. Morgan Stanley’s target price points to a potential upside of 39.31% from the stock’s current price.

Several other equities analysts also recently weighed in on CFG. UBS Group lifted their target price on Citizens Financial Group from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. upped their price target on Citizens Financial Group from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods raised their price objective on Citizens Financial Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Evercore reaffirmed an “outperform” rating and issued a $80.00 price objective on shares of Citizens Financial Group in a research note on Monday, July 6th. Finally, Truist Financial lowered their price objective on Citizens Financial Group from $80.00 to $77.00 and set a “hold” rating on the stock in a research report on Wednesday, September 23rd. Sixteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $79.60.

Citizens Financial Group Stock Down 1.4%

CFG opened at $63.89 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. Citizens Financial Group has a 1-year low of $47.96 and a 1-year high of $75.33. The company has a market capitalization of $26.91 billion, a PE ratio of 13.86, a PEG ratio of 0.59 and a beta of 0.66. The firm’s 50 day simple moving average is $70.28 and its two-hundred day simple moving average is $66.54.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 EPS. As a group, equities analysts forecast that Citizens Financial Group will post 5.3 EPS for the current year.

Insider Transactions at Citizens Financial Group

In other Citizens Financial Group news, CEO Bruce Van Saun sold 129,369 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $72.07, for a total value of $9,323,623.83. Following the completion of the sale, the chief executive officer owned 1,140,763 shares in the company, valued at approximately $82,214,789.41. This represents a 10.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Citizens Financial Group

A number of hedge funds have recently made changes to their positions in CFG. BlackRock Inc. bought a new stake in Citizens Financial Group during the 2nd quarter valued at approximately $3,415,046,000. Capital International Investors boosted its stake in Citizens Financial Group by 32.3% in the 4th quarter. Capital International Investors now owns 8,000,750 shares of the bank’s stock worth $467,389,000 after purchasing an additional 1,953,372 shares during the period. Norges Bank bought a new position in Citizens Financial Group in the 4th quarter worth approximately $355,909,000. Goldman Sachs Group Inc. grew its holdings in Citizens Financial Group by 15.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,081,725 shares of the bank’s stock valued at $296,824,000 after buying an additional 678,601 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Citizens Financial Group by 89.4% during the 4th quarter. Victory Capital Management Inc. now owns 4,731,592 shares of the bank’s stock valued at $276,372,000 after buying an additional 2,232,806 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to individuals, families, businesses and institutions through branches, digital channels and other delivery platforms.

The company’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, credit cards, personal loans and other lending products. Through its commercial banking operations, Citizens provides business loans, commercial real estate financing, treasury management, capital markets services and other solutions for companies and institutional clients.