Citizens Financial Group Inc. (NYSE: CFG) Loses -36.62% From High. Why That Could Change?


    BlackRock Fund Advisors recently announced the acquisition of new stake in Citizens Financial Group Inc. (NYSE:CFG). The institutional investor has increased its shareholding in the Financial company by 23.48% to 29.92 million shares with purchase of 5.69 million shares. This fresh investment now brings its stake to 7.01% valued currently at $742.42 million. In addition, SSgA Funds Management, Inc. raised its holdings by 10589.0 to 21.14 million shares. And Invesco Advisers, Inc. has lifted its position by 1.50% or 0.29 million shares – to 19.53 million shares.

    With over 6.88 million Citizens Financial Group Inc. (CFG) shares trading Tuesday and a closing price of $26.17 on the day, the dollar volume was approximately $180.18 million. The shares have shown a positive weekly performance of 2.47% and its price on 09/01/20 gained nearly 1.16%. Currently, there are 426.61M common shares owned by the public and among those 424.92M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 21 analysts who have offered their price forecasts for CFG have a consensus price objective of $29.38. The analysts have set the share’s price value over the next 12 months at a high of $35.00 and a low of $24.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Citizens Financial Group Inc. stock is 2.10 for the next 12 months. The average price target is 11.53% above its last price level and an upside to the estimated low will see the stock lose -9.04% over that period. But an upside of 25.23% will see the stock hit the forecast high price target while mean target price for the stock is $30.00.

    Insiders at the company have transacted a total of 95 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 82 of these insider trades were purchases, accounting for 528,444 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 191,000 shares.

    The top 3 mutual fund holders in Citizens Financial Group Inc. are Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 12.15 million shares of the company’s stock, all valued at over $301.51 million. The company sold 7441.0 shares recently to bring their total holdings to about 2.85% of the shares outstanding. Vanguard Mid Cap Index Fund sold 73170.0 shares to see its total holdings shrink to 10.47 million shares valued at over $259.83 million and representing 2.46% of the shares outstanding. Vanguard 500 Index Fund sold 45297.0 shares to bring its total holdings to over 8.8 million shares at a value of $218.28 million. Vanguard 500 Index Fund now owns shares totaling to 2.06% of the shares outstanding.

    Shares of Citizens Financial Group Inc. (NYSE: CFG) opened at $25.59, down -$0.28 from a prior closing price of $25.87. However, the script later closed the day at $26.17, up 1.16%. The company’s stock has a 5-day price change of 2.47% and -2.42% over the past three months. CFG shares are trading -35.56% year to date (YTD), with the 12-month market performance down to -20.43% lower. It has a 12-month low price of $14.12 and touched a high of $41.29 over the same period. Currently, 6.88 million shares have been traded, compared to an average intraday trading volume of 5.28 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.10%, 4.98%, and -9.48% respectively.

    Institutional ownership of Citizens Financial Group Inc. (NYSE: CFG) shares accounts for 96.10% of the company’s 426.61M shares outstanding. Mutual fund holders own 44.20%, while other institutional holders and individual stakeholders account for 50.95% and 28.83% respectively.

    It has a market capitalization of $11.05B and a beta (3y monthly) value of 1.80. The stock’s trailing 12-month PE ratio is 10.47, while the earnings-per-share (ttm) stands at $2.50. The company has a debt-to-equity ratio at 0.45. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.49% over the week and 2.89% over the month.

    Analysts forecast that Citizens Financial Group Inc. (CFG) will achieve an EPS of $0.62 for the current quarter, $0.51 for the next quarter and $2.56 for 2021. The lowest estimate earnings-per-share for the quarter is $0.33 while analysts give the company a high EPS estimate of $0.84. Comparatively, EPS for the current quarter was $0.97 a year ago. Earnings per share for the fiscal year are expected to increase by 10.00%, and 51.81% over the next financial year. EPS should shrink at an annualized rate of -8.64% over the next five years, compared to 19.70% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate Citizens Financial Group Inc. (CFG) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 15 Wall Street analysts polled rate the stock as a buy, while 4 of the 21 advise that investors “hold,” and 1 rated it as a “Sell.”

    Looking at the support for the CFG, a number of firms have released research notes about the stock. Wolfe Research stated their Underperform rating for the stock in a research note on July 31, 2020, with the firm’s price target at. UBS coverage for the Citizens Financial Group Inc. (CFG) stock in a research note released on May 04, 2020 offered a Buy rating with a price target of. Compass Point was of a view on April 14, 2020 that the stock is Neutral, while Barclays gave the stock Overweight rating on January 06, 2020, issuing a price target of $49. Citigroup on their part issued Neutral rating on December 16, 2019.


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