Citizens Financial Group (NYSE:CFG) Price Target Raised to $56.00

Citizens Financial Group (NYSE:CFG) had its price target increased by Keefe, Bruyette & Woods from $53.00 to $56.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a market perform rating on the bank’s stock.

A number of other equities research analysts have also recently commented on the stock. DA Davidson raised their price target on shares of Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Raymond James upgraded Citizens Financial Group from a “market perform” rating to a “strong-buy” rating and set a $55.00 price target on the stock in a report on Wednesday, December 18th. Barclays lifted their price target on shares of Citizens Financial Group from $47.00 to $52.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Piper Sandler upped their target price on shares of Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Evercore ISI dropped their price target on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.00.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $47.36 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. Citizens Financial Group has a fifty-two week low of $30.24 and a fifty-two week high of $49.25. The company has a 50 day simple moving average of $45.71 and a two-hundred day simple moving average of $42.91. The company has a market capitalization of $20.87 billion, a PE ratio of 15.63, a P/E/G ratio of 0.84 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1,962,330 billion. During the same period in the previous year, the business earned $0.85 EPS. The firm’s revenue was down .1% compared to the same quarter last year. Research analysts anticipate that Citizens Financial Group will post 3.95 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Friday, January 31st. Citizens Financial Group’s payout ratio is 55.45%.

Institutional Investors Weigh In On Citizens Financial Group

A number of large investors have recently added to or reduced their stakes in CFG. State Street Corp raised its holdings in shares of Citizens Financial Group by 6.7% during the 3rd quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock valued at $1,060,689,000 after buying an additional 1,615,144 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Citizens Financial Group by 207.2% during the third quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock worth $339,733,000 after acquiring an additional 5,579,313 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Citizens Financial Group by 19.3% in the 4th quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank’s stock worth $217,781,000 after acquiring an additional 805,758 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Citizens Financial Group by 61.4% in the 2nd quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock valued at $155,909,000 after purchasing an additional 1,682,886 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Citizens Financial Group by 11.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,144,635 shares of the bank’s stock valued at $129,150,000 after purchasing an additional 334,386 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

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.