Morgan Stanley Has Lowered Expectations for Citizens Financial Group (NYSE:CFG) Stock Price

Citizens Financial Group (NYSE:CFG) had its price objective lowered by Morgan Stanley from $60.00 to $54.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the bank’s stock.

CFG has been the subject of a number of other reports. Citigroup increased their price target on Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Stephens reiterated an “overweight” rating and issued a $53.00 price target on shares of Citizens Financial Group in a research note on Wednesday, January 29th. 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 research note on Tuesday, December 10th. Piper Sandler increased their price target on Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. 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 research note on Tuesday, January 21st. Nine research 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. According to data from MarketBeat, Citizens Financial Group presently has an average rating of “Moderate Buy” and a consensus target price of $49.22.

Citizens Financial Group Trading Down 1.9 %

Shares of NYSE:CFG opened at $39.68 on Thursday. The business’s 50 day simple moving average is $45.54 and its 200 day simple moving average is $44.17. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. Citizens Financial Group has a 1 year low of $32.06 and a 1 year high of $49.25. The company has a market capitalization of $17.35 billion, a P/E ratio of 13.10, a P/E/G ratio of 0.81 and a beta of 1.06.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.83 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 $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the company earned $0.85 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. On average, research analysts anticipate that Citizens Financial Group will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.42 per share. The ex-dividend date was Friday, January 31st. This represents a $1.68 dividend on an annualized basis and a yield of 4.23%. Citizens Financial Group’s payout ratio is currently 55.45%.

Institutional Trading of Citizens Financial Group

A number of large investors have recently bought and sold shares of the business. Great Valley Advisor Group Inc. grew its holdings in Citizens Financial Group by 0.6% during the 4th quarter. Great Valley Advisor Group Inc. now owns 39,766 shares of the bank’s stock worth $1,740,000 after acquiring an additional 224 shares during the period. My Legacy Advisors LLC grew its stake in shares of Citizens Financial Group by 1.0% in the 4th quarter. My Legacy Advisors LLC now owns 22,810 shares of the bank’s stock valued at $1,074,000 after buying an additional 229 shares during the period. Brooklyn Investment Group grew its stake in shares of Citizens Financial Group by 3.3% in the 4th quarter. Brooklyn Investment Group now owns 7,304 shares of the bank’s stock valued at $320,000 after buying an additional 233 shares during the period. 1620 Investment Advisors Inc. grew its stake in shares of Citizens Financial Group by 3.2% in the 4th quarter. 1620 Investment Advisors Inc. now owns 7,713 shares of the bank’s stock valued at $338,000 after buying an additional 238 shares during the period. Finally, SeaCrest Wealth Management LLC grew its stake in shares of Citizens Financial Group by 0.9% in the 4th quarter. SeaCrest Wealth Management LLC now owns 28,726 shares of the bank’s stock valued at $1,257,000 after buying an additional 246 shares during the period. 94.90% of the stock is currently owned by institutional investors and hedge funds.

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.