Citizens Financial Group (NYSE:CFG) Stock Price Target Cut by Cantor Fitzgerald

Citizens Financial Group (NYSE:CFG) had its price objective dropped by equities researchers at Cantor Fitzgerald from $84.00 to $78.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 23.10% from the company’s current price.

CFG has been the topic of a number of other research reports. TD Cowen assumed coverage on Citizens Financial Group in a report on Thursday, October 8th. They set a “buy” rating and a $75.00 price objective on the stock. Raymond James Financial began coverage on Citizens Financial Group in a report on Tuesday, October 6th. They set a “strong-buy” rating and a $77.00 target price for the company. JPMorgan Chase & Co. decreased their price target on Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating on the stock in a research report on Friday, October 2nd. Truist Financial lowered their price target on shares of Citizens Financial Group from $80.00 to $77.00 and set a “hold” rating on the stock in a report on Wednesday, September 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Citizens Financial Group in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.08.

Citizens Financial Group Trading Down 0.8%

NYSE:CFG opened at $63.36 on Wednesday. Citizens Financial Group has a 1 year low of $47.96 and a 1 year high of $75.33. The stock’s fifty day moving average price is $68.62 and its two-hundred day moving average price is $67.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market cap of $26.69 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.58 and a beta of 0.72.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.05. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%. The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the previous year, the business earned $0.92 earnings per share. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, analysts expect that Citizens Financial Group will post 5.29 EPS for the current year.

Insider Buying and Selling at Citizens Financial Group

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

Hedge Funds Weigh In On Citizens Financial Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CFG. First Citizens Bank & Trust Co. increased its stake in Citizens Financial Group by 4,748.6% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 144,584 shares of the bank’s stock worth $9,219,000 after acquiring an additional 141,602 shares during the last quarter. Cohen Capital Management Inc. purchased a new stake in shares of Citizens Financial Group in the 3rd quarter valued at about $4,274,000. Allied Investment Advisors LLC bought a new stake in shares of Citizens Financial Group during the 3rd quarter valued at about $30,179,000. Krilogy Financial LLC boosted its position in shares of Citizens Financial Group by 419.6% during the 3rd quarter. Krilogy Financial LLC now owns 139,536 shares of the bank’s stock valued at $8,897,000 after acquiring an additional 112,683 shares during the last quarter. Finally, First Financial Corp IN boosted its position in shares of Citizens Financial Group by 561.7% during the 3rd quarter. First Financial Corp IN now owns 11,910 shares of the bank’s stock valued at $759,000 after acquiring an additional 10,110 shares during the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

About Citizens Financial Group

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.