Citizens Financial Group (NYSE:CFG) Earns Hold Rating from Analysts at Truist Financial

Truist Financial began coverage on shares of Citizens Financial Group (NYSE:CFG) in a research report report published on Tuesday morning,Benzinga reports. The firm issued a hold rating and a $49.00 target price on the bank’s stock.

Other analysts also recently issued research reports about the company. Keefe, Bruyette & Woods increased their target price on Citizens Financial Group from $46.00 to $53.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Citigroup raised their price objective on shares of Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Royal Bank of Canada upped their target price on shares of Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, DA Davidson lifted their target price on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.78.

Citizens Financial Group Trading Up 0.2 %

NYSE:CFG opened at $44.77 on Tuesday. The company’s 50 day moving average is $45.47 and its 200-day moving average is $42.18. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61. Citizens Financial Group has a 12 month low of $30.24 and a 12 month high of $49.25. The firm has a market cap of $19.73 billion, a price-to-earnings ratio of 17.63, a P/E/G ratio of 1.76 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last announced its 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 net margin of 10.37% and a return on equity of 5.73%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the firm posted $0.85 EPS. The business’s quarterly revenue was down 5.6% on a year-over-year basis. Equities analysts anticipate that Citizens Financial Group will post 3.2 EPS for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were issued a dividend of $0.42 per share. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.75%. Citizens Financial Group’s dividend payout ratio is 66.14%.

Institutional Trading of Citizens Financial Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP boosted its position in Citizens Financial Group by 207.2% in the 3rd quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock valued at $339,733,000 after buying an additional 5,579,313 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Citizens Financial Group by 61.4% in the second quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock valued at $155,909,000 after acquiring an additional 1,682,886 shares during the last quarter. State Street Corp increased its position in Citizens Financial Group by 6.7% in the third quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock worth $1,060,689,000 after purchasing an additional 1,615,144 shares during the period. Assenagon Asset Management S.A. increased its position in Citizens Financial Group by 85.6% in the third quarter. Assenagon Asset Management S.A. now owns 2,043,650 shares of the bank’s stock worth $83,933,000 after purchasing an additional 942,662 shares during the period. Finally, Bank of Montreal Can raised its holdings in Citizens Financial Group by 51.1% during the 3rd quarter. Bank of Montreal Can now owns 2,644,542 shares of the bank’s stock worth $107,897,000 after purchasing an additional 894,322 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Company Profile

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.