Piper Sandler Cuts Citizens Financial Group (NYSE:CFG) Price Target to $43.00

Citizens Financial Group (NYSE:CFG - Get Free Report) had its target price lowered by equities research analysts at Piper Sandler from $48.00 to $43.00 in a report released on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the bank's stock. Piper Sandler's target price suggests a potential upside of 20.03% from the stock's previous close.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of Citizens Financial Group from $49.00 to $43.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Morgan Stanley lowered their price target on shares of Citizens Financial Group from $60.00 to $54.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Barclays cut their price target on shares of Citizens Financial Group from $52.00 to $49.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Stephens reiterated an "overweight" rating and set a $53.00 target price on shares of Citizens Financial Group in a report on Wednesday, January 29th. Finally, Citigroup reduced their price target on Citizens Financial Group from $58.00 to $51.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Eight 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $45.82.

Citizens Financial Group Stock Performance

Shares of NYSE CFG traded up $1.33 during trading on Thursday, reaching $35.82. 4,959,043 shares of the stock traded hands, compared to its average volume of 4,791,569. The stock has a market capitalization of $15.66 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 0.81 and a beta of 0.81. Citizens Financial Group has a 52-week low of $32.60 and a 52-week high of $49.25. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. The company has a 50-day moving average of $40.65 and a 200-day moving average of $43.59.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The bank reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.02. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. Analysts forecast that Citizens Financial Group will post 3.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Citizens Financial Group

A number of large investors have recently added to or reduced their stakes in CFG. Capital World Investors grew its stake in Citizens Financial Group by 3.3% during the 4th quarter. Capital World Investors now owns 35,900,115 shares of the bank's stock valued at $1,570,989,000 after purchasing an additional 1,131,838 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 valued at $477,043,000 after purchasing an additional 124,860 shares during the period. Wellington Management Group LLP increased its position in shares of 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 buying an additional 2,298,040 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake 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 worth $423,733,000 after buying an additional 1,672,204 shares during the period. Finally, Royal Bank of Canada lifted its position 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 valued at $273,378,000 after buying an additional 374,850 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors.

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.