Citizens Financial Group (NYSE:CFG) Price Target Raised to $58.00 at Citigroup

Citizens Financial Group (NYSE:CFG) had its target price boosted by Citigroup from $50.00 to $58.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the bank’s stock.

A number of other analysts have also weighed in on the company. DA Davidson upped their target price on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Morgan Stanley lifted their price objective on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Keefe, Bruyette & Woods upped their price target on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “market perform” rating in a research report on Monday, September 30th. Piper Sandler increased their price objective on Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $44.80.

Citizens Financial Group Price Performance

CFG stock traded up $0.01 during trading on Thursday, hitting $46.78. 118,358 shares of the company’s stock traded hands, compared to its average volume of 5,252,658. Citizens Financial Group has a 52 week low of $26.13 and a 52 week high of $48.35. The stock has a market capitalization of $20.62 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 1.75 and a beta of 1.07. The business has a fifty day simple moving average of $42.68 and a 200 day simple moving average of $39.70. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the business posted $0.85 earnings per share. The firm’s revenue was down 5.6% on a year-over-year basis. As a group, research analysts expect that Citizens Financial Group will post 3.2 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were paid a $0.42 dividend. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.59%. Citizens Financial Group’s payout ratio is currently 66.14%.

Hedge Funds Weigh In On Citizens Financial Group

A number of institutional investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in Citizens Financial Group during the third quarter worth $453,000. Teachers Retirement System of The State of Kentucky raised its position in shares of Citizens Financial Group by 105.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,135,152 shares of the bank’s stock worth $46,621,000 after acquiring an additional 583,473 shares during the period. Coldstream Capital Management Inc. boosted its stake in shares of Citizens Financial Group by 12.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 20,302 shares of the bank’s stock worth $843,000 after acquiring an additional 2,293 shares in the last quarter. MidWestOne Financial Group Inc. purchased a new stake in shares of Citizens Financial Group during the 3rd quarter worth about $221,000. Finally, Brophy Wealth Management LLC acquired a new stake in shares of Citizens Financial Group during the 3rd quarter valued at about $319,000. 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.