Piper Sandler Issues Pessimistic Forecast for Citizens Financial Group (NYSE:CFG) Stock Price

Citizens Financial Group (NYSE:CFG) had its price objective reduced by equities research analysts at Piper Sandler from $48.00 to $43.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the bank’s stock. Piper Sandler’s target price would suggest a potential upside of 21.38% from the company’s previous close.

CFG has been the topic of several other research reports. Truist Financial cut their price target on Citizens Financial Group from $51.00 to $43.00 and set a “hold” rating on the stock in a report on Thursday. Stephens reiterated an “overweight” rating and issued a $53.00 target price on shares of Citizens Financial Group in a report on Wednesday, January 29th. Barclays decreased their price target on shares of Citizens Financial Group from $52.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday. Raymond James reaffirmed a “strong-buy” rating and issued a $58.00 price objective (up from $55.00) on shares of Citizens Financial Group in a research note on Tuesday, January 21st. Finally, 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 for the company in a research report on Thursday. Eight 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.82.

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $35.43 on Thursday. The firm has a 50 day moving average of $40.88 and a 200-day moving average of $43.59. The company has a market cap of $15.49 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 0.81 and a beta of 0.81. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. Citizens Financial Group has a 52 week low of $32.60 and a 52 week high of $49.25.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Capital World Investors boosted its holdings in shares of Citizens Financial Group by 3.3% in the 4th quarter. Capital World Investors now owns 35,900,115 shares of the bank’s stock worth $1,570,989,000 after buying an additional 1,131,838 shares during the last quarter. Geode Capital Management LLC raised its position in Citizens Financial Group by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 10,929,591 shares of the bank’s stock worth $477,043,000 after acquiring an additional 124,860 shares during the period. Wellington Management Group LLP boosted its stake in Citizens Financial Group by 27.8% in the fourth quarter. Wellington Management Group LLP now owns 10,570,083 shares of the bank’s stock valued at $462,547,000 after acquiring an additional 2,298,040 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of Citizens Financial Group by 20.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 9,683,111 shares of the bank’s stock valued at $423,733,000 after acquiring an additional 1,672,204 shares during the period. Finally, Royal Bank of Canada increased its stake in shares of Citizens Financial Group by 6.4% during the 4th quarter. Royal Bank of Canada now owns 6,247,238 shares of the bank’s stock worth $273,378,000 after purchasing an additional 374,850 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.