Citizens Financial Group (NYSE:CFG) Price target cut to $41.00 by Goldman Sachs Group analysts

Citizens Financial Group (NYSE: CFG – Get a rating) had its price target reduced by equity analysts at Goldman Sachs Group from $47.00 to $41.00 in a report on Monday, Target Stock Advisor reports. The company currently has a “buy” rating on the bank’s stock. The Goldman Sachs Group target price indicates a potential upside of 16.41% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. Citigroup lowered its price target on shares of Citizens Financial Group from $45.00 to $39.00 in a Tuesday, July 12 research note. Jefferies Financial Group lowered its price target on Citizens Financial Group shares from $46.00 to $40.00 and set a “holding” rating for the company in a Monday, July 11 research report. Stephens lowered his price target on Citizens Financial Group shares from $59.00 to $48.00 and set an “overweight” rating for the company in a Monday, June 13 research report. Credit Suisse Group lowered its price target on shares of Citizens Financial Group to $42.00 in a Friday, July 22 research report. Finally, Piper Sandler lowered her price target on shares of Citizens Financial Group to $44.00 in a Friday, July 22 research report. One equity research analyst gave the stock a sell rating, five issued a hold rating and ten gave the company a buy rating. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $47.75.

Citizens Financial Group grows by 2.5%

Shares of Citizens Financial Group rose $0.86 during midday trading on Monday, hitting $35.22. The stock had a trading volume of 68,350 shares, compared to an average volume of 5,426,684. The company has a 50-day moving average of $37.14 and a two-hundred-day moving average of 38.99 $. Citizens Financial Group has a 12-month low of $32.65 and a 12-month high of $57.00. The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt ratio of 0.65. The company has a market capitalization of $17.46 billion, a P/E ratio of 8.92 and a beta of 1.32.

Citizens Financial Group (NYSE: CFG – Get a rating) last released its quarterly results on Tuesday, July 19. The bank reported earnings per share of $1.14 for the quarter, beating the consensus estimate of $1.02 by $0.12. Citizens Financial Group posted a net margin of 25.04% and a return on equity of 10.26%. The company posted revenue of $2 billion in the quarter, compared to $1.99 billion expected by analysts. In the same quarter a year earlier, the company posted EPS of $1.46. Sell-side analysts expect Citizens Financial Group to post earnings per share of 4.35 for the current year.

Citizens Financial Group announced that its board of directors authorized a stock repurchase plan on Monday, June 27 that sees the company repurchase $1.00 billion of outstanding stock. This repurchase authorization allows the bank to repurchase up to 5.6% of its shares through purchases on the open market. Stock buyback plans are often a sign that a company’s management believes its stock is undervalued.

Institutional investors weigh in on Citizens Financial Group

A number of hedge funds and other institutional investors have recently changed their holdings in CFG. Capital World Investors increased its equity stake in Citizens Financial Group by 76.0% in Q1. Capital World Investors now owns 19,002,482 shares of the bank valued at $861,383,000 after buying an additional 8,203,831 shares last quarter. Norges Bank acquired a new stake in the shares of Citizens Financial Group in the 4th quarter at a value of $229,205,000. First Trust Advisors LP increased its stake in Citizens Financial Group by 410.9% during the 1st quarter. First Trust Advisors LP now owns 5,770,863 shares of the bank worth $261,593,000 after acquiring 4,641,334 additional shares in the last quarter. Marshall Wace LLP increased its stake in Citizens Financial Group by 1,722.3% during the 4th quarter. Marshall Wace LLP now owns 3,879,285 shares of the bank worth $183,295,000 after acquiring 3,666,412 additional shares last quarter. Finally, Prudential Financial Inc. increased its stake in Citizens Financial Group by 444.3% during the second quarter. Prudential Financial Inc. now owns 2,852,267 shares of the bank worth $101,799,000 after acquiring 2,328,251 additional shares last quarter. 88.08% of the shares are currently held by institutional investors and hedge funds.

Company Profile Citizens Financial Group

(Get a rating)

Citizens Financial Group, Inc operates as a bank holding company for Citizens Bank, National Association which provides retail and commercial banking products and services to individuals, small businesses, middle market businesses, corporations and institutions in the States -United. The Company operates in two segments, Consumer Banking and Commercial Banking.

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