JPMorgan Chase & Co. Lowers Citizens Financial Group (NYSE:CFG) Price Target to $43.00

Citizens Financial Group (NYSE:CFG) had its price target decreased by JPMorgan Chase & Co. from $49.00 to $43.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 25.44% from the stock’s current price.

Several other research firms have also weighed in on CFG. Raymond James reiterated a “strong-buy” rating and issued a $58.00 target price (up previously from $55.00) on shares of Citizens Financial Group in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods upped their price objective on shares of Citizens Financial Group from $53.00 to $56.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 21st. Morgan Stanley decreased their target price on shares of Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Truist Financial dropped their price target on Citizens Financial Group from $54.00 to $51.00 and set a “hold” rating for the company in a research note on Friday, March 21st. Finally, Citigroup lowered their target price on Citizens Financial Group from $58.00 to $51.00 and set a “buy” rating for the company in a report on Monday, March 24th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.06.

Citizens Financial Group Stock Down 5.4 %

NYSE CFG opened at $34.28 on Thursday. The company has a 50 day moving average of $43.78 and a 200-day moving average of $44.05. The company has a market cap of $14.98 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 0.81 and a beta of 0.81. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. Citizens Financial Group has a 1-year low of $32.06 and a 1-year high of $49.25.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Friday, January 17th. The bank reported $0.85 EPS for the quarter, beating 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 firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the firm earned $0.85 EPS. The business’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities research analysts expect that Citizens Financial Group will post 3.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. CHURCHILL MANAGEMENT Corp bought a new position in shares of Citizens Financial Group during the 4th quarter worth $8,134,000. BTC Capital Management Inc. grew its position in shares of Citizens Financial Group by 19.8% in the fourth quarter. BTC Capital Management Inc. now owns 42,999 shares of the bank’s stock valued at $1,882,000 after purchasing an additional 7,119 shares in the last quarter. Patton Fund Management Inc. purchased a new stake in Citizens Financial Group during the 4th quarter worth about $6,694,000. AEGON ASSET MANAGEMENT UK Plc boosted its stake in Citizens Financial Group by 46.8% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,152,151 shares of the bank’s stock worth $50,430,000 after purchasing an additional 367,439 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of Citizens Financial Group by 19.3% in the fourth quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank’s stock worth $217,781,000 after buying an additional 805,758 shares in the last quarter. Institutional investors 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.