Citizens Financial Group (NYSE:CFG) PT Raised to $46.00

Citizens Financial Group (NYSE:CFG) had its price target increased by UBS Group from $42.00 to $46.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the bank’s stock.

A number of other brokerages also recently weighed in on CFG. Piper Sandler upgraded Citizens Financial Group from a neutral rating to an overweight rating and increased their price target for the stock from $35.00 to $41.00 in a report on Friday, April 26th. Morgan Stanley boosted their price target on Citizens Financial Group from $38.00 to $41.00 and gave the company an equal weight rating in a research note on Thursday. Citigroup increased their price target on Citizens Financial Group from $39.00 to $43.00 and gave the stock a buy rating in a report on Friday, April 19th. JPMorgan Chase & Co. lowered their price objective on shares of Citizens Financial Group from $36.50 to $36.00 and set a neutral rating for the company in a research note on Wednesday, May 1st. Finally, Keefe, Bruyette & Woods increased their target price on shares of Citizens Financial Group from $39.00 to $40.00 and gave the stock a market perform rating in a research note on Tuesday, July 9th. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Citizens Financial Group presently has a consensus rating of Hold and an average price target of $41.13.

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $41.00 on Thursday. The stock has a market capitalization of $18.66 billion, a PE ratio of 14.86, a PEG ratio of 1.55 and a beta of 1.10. The business’s 50 day simple moving average is $35.89 and its 200 day simple moving average is $34.28. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.87. Citizens Financial Group has a one year low of $22.77 and a one year high of $41.94.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter last year, the firm posted $0.92 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, research analysts forecast that Citizens Financial Group will post 3.24 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend is Wednesday, July 31st. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Institutional Trading of Citizens Financial Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Diversified Trust Co bought a new stake in Citizens Financial Group during the fourth quarter worth $330,000. Wedmont Private Capital purchased a new position in Citizens Financial Group during the 4th quarter worth $206,000. Raymond James Trust N.A. bought a new stake in shares of Citizens Financial Group in the 4th quarter worth $228,000. Vest Financial LLC raised its holdings in shares of Citizens Financial Group by 15.4% in the fourth quarter. Vest Financial LLC now owns 379,462 shares of the bank’s stock valued at $12,575,000 after purchasing an additional 50,560 shares during the last quarter. Finally, Whittier Trust Co. raised its holdings in shares of Citizens Financial Group by 203.1% in the fourth quarter. Whittier Trust Co. now owns 7,259 shares of the bank’s stock valued at $240,000 after purchasing an additional 4,864 shares during the last quarter. 94.90% of the stock is owned by hedge funds and other 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.