Barclays Raises Citizens Financial Group (NYSE:CFG) Price Target to $47.00

Citizens Financial Group (NYSE:CFG) had its price objective upped by Barclays from $40.00 to $47.00 in a research report sent to investors on Thursday, Benzinga reports. Barclays currently has an equal weight rating on the bank’s stock.

Several other research analysts have also issued reports on the stock. Piper Sandler increased their price target on shares of Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Morgan Stanley raised their target price on 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. Royal Bank of Canada upped their price target on Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday. Raymond James started coverage on Citizens Financial Group in a report on Thursday, July 11th. They set a “market perform” rating for the company. Finally, UBS Group upped their target price on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Ten 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 has a consensus rating of “Hold” and an average target price of $43.80.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $42.47 on Thursday. The firm has a market capitalization of $19.32 billion, a PE ratio of 15.39, a PEG ratio of 1.42 and a beta of 1.07. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60. Citizens Financial Group has a 1-year low of $22.77 and a 1-year high of $44.39. The business’s 50 day moving average is $41.33 and its 200-day moving average is $38.09.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.79. Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company earned $0.85 earnings per share. The business’s revenue was down 5.6% compared to the same quarter last year. Sell-side analysts predict that Citizens Financial Group will post 3.22 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.96%. Citizens Financial Group’s payout ratio is presently 60.87%.

Insider Buying and Selling at Citizens Financial Group

In other news, insider Craig Jack Read sold 3,938 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $43.26, for a total value of $170,357.88. Following the transaction, the insider now directly owns 33,620 shares in the company, valued at $1,454,401.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Citizens Financial Group

Several large investors have recently bought and sold shares of CFG. Vest Financial LLC boosted its position in shares of Citizens Financial Group by 13.9% during the third quarter. Vest Financial LLC now owns 36,100 shares of the bank’s stock worth $1,483,000 after purchasing an additional 4,394 shares in the last quarter. Schubert & Co acquired a new stake in Citizens Financial Group during the 3rd quarter worth $404,000. Friedenthal Financial bought a new position in Citizens Financial Group during the third quarter worth about $50,000. Blue Trust Inc. grew its stake in Citizens Financial Group by 103.6% in the third quarter. Blue Trust Inc. now owns 10,203 shares of the bank’s stock valued at $419,000 after acquiring an additional 5,192 shares during the period. Finally, Aaron Wealth Advisors LLC bought a new stake in shares of Citizens Financial Group in the third quarter worth about $210,000. 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.