Royal Bank of Canada Issues Pessimistic Forecast for Citizens Financial Group (NYSE:CFG) Stock Price

Citizens Financial Group (NYSE:CFG - Get Free Report) had its price target dropped by Royal Bank of Canada from $50.00 to $44.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the bank's stock. Royal Bank of Canada's target price would suggest a potential upside of 22.24% from the stock's previous close.

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A number of other research analysts have also recently commented on the stock. Stephens reiterated an "overweight" rating and set a $53.00 price target on shares of Citizens Financial Group in a research report on Wednesday, January 29th. 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. Truist Financial cut their price target on shares of Citizens Financial Group from $51.00 to $43.00 and set a "hold" rating for the company in a research report on Thursday. 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 research note on Monday, March 24th. Finally, Piper Sandler lowered their price objective on Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating for the company in a research report on Thursday. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Citizens Financial Group presently has an average rating of "Moderate Buy" and a consensus price target of $47.28.

Read Our Latest Stock Report on Citizens Financial Group

Citizens Financial Group Price Performance

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Shares of NYSE:CFG traded up $0.53 during trading on Thursday, reaching $35.99. The company had a trading volume of 1,667,952 shares, compared to its average volume of 4,796,282. The company has a fifty day moving average of $41.36 and a two-hundred day moving average of $43.66. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $15.73 billion, a P/E ratio of 11.88, a price-to-earnings-growth ratio of 0.81 and a beta of 0.81. Citizens Financial Group has a 12 month low of $32.60 and a 12 month high of $49.25.

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

Hedge Funds Weigh In On Citizens Financial Group

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A number of hedge funds have recently added to or reduced their stakes in the company. Ameriflex Group Inc. purchased a new position in shares of Citizens Financial Group in the fourth quarter worth $26,000. Ameliora Wealth Management Ltd. purchased a new stake in shares of Citizens Financial Group during the 4th quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Citizens Financial Group during the fourth quarter valued at approximately $28,000. Colonial Trust Co SC boosted its holdings in Citizens Financial Group by 673.0% in the fourth quarter. Colonial Trust Co SC now owns 889 shares of the bank's stock worth $39,000 after purchasing an additional 774 shares during the last quarter. Finally, Sierra Ocean LLC bought a new stake in Citizens Financial Group in the 4th quarter worth approximately $47,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

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.

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