Morgan Stanley Lowers Citizens Financial Group (NYSE:CFG) Price Target to $54.00

Citizens Financial Group (NYSE:CFG) had its target price dropped by Morgan Stanley from $60.00 to $54.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Morgan Stanley’s price objective would suggest a potential upside of 32.63% from the company’s current price.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group lifted their target price on shares of Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Raymond James reiterated a “strong-buy” rating and issued a $58.00 price target (up from $55.00) on shares of Citizens Financial Group in a report on Tuesday, January 21st. Barclays increased their price target on Citizens Financial Group from $47.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Compass Point increased their price target on Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Truist Financial increased their price target on Citizens Financial Group from $49.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, January 21st. Nine equities 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.22.

Citizens Financial Group Stock Performance

Shares of CFG opened at $40.72 on Thursday. The company has a 50-day simple moving average of $45.46 and a 200-day simple moving average of $44.16. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $17.80 billion, a PE ratio of 13.44, a P/E/G ratio of 0.81 and a beta of 1.06. Citizens Financial Group has a 52-week low of $32.06 and a 52-week high of $49.25.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the company earned $0.85 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. Equities research analysts predict that Citizens Financial Group will post 3.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Citizens Financial Group

A number of institutional investors have recently modified their holdings of CFG. Ashton Thomas Securities LLC acquired a new stake in shares of Citizens Financial Group during the 3rd quarter valued at $27,000. Venturi Wealth Management LLC raised its holdings in Citizens Financial Group by 174.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 4,076 shares of the bank’s stock worth $167,000 after acquiring an additional 2,593 shares during the period. Apollon Wealth Management LLC raised its holdings in Citizens Financial Group by 46.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 22,173 shares of the bank’s stock worth $911,000 after acquiring an additional 6,989 shares during the period. MQS Management LLC bought a new position in Citizens Financial Group in the 3rd quarter worth $261,000. Finally, Curi RMB Capital LLC increased its holdings in shares of Citizens Financial Group by 2.0% during the 3rd quarter. Curi RMB Capital LLC now owns 187,776 shares of the bank’s stock worth $7,712,000 after purchasing an additional 3,636 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Company Profile

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.