Citizens Financial Group (NYSE:CFG) Given New $48.00 Price Target at DA Davidson

Citizens Financial Group (NYSE:CFG) had its price target boosted by DA Davidson from $46.00 to $48.00 in a research note released on Thursday morning, MarketBeat reports. DA Davidson currently has a buy rating on the bank’s stock. DA Davidson also issued estimates for Citizens Financial Group’s Q4 2024 earnings at $0.85 EPS, FY2024 earnings at $3.24 EPS and FY2025 earnings at $3.89 EPS.

A number of other research firms also recently weighed in on CFG. Barclays lifted their price target on shares of Citizens Financial Group from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday. Stephens lifted their target price on shares of Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. The Goldman Sachs Group increased their price target on shares of Citizens Financial Group from $43.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Keefe, Bruyette & Woods lifted their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the company a “market perform” rating in a report on Monday, September 30th. Finally, Evercore ISI dropped their target price on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a report on Wednesday, October 2nd. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Citizens Financial Group presently has a consensus rating of “Hold” and an average price target of $43.80.

Citizens Financial Group Stock Up 0.8 %

NYSE CFG opened at $42.47 on Thursday. Citizens Financial Group has a twelve month low of $22.77 and a twelve month high of $44.39. The stock has a market cap of $19.32 billion, a PE ratio of 15.39, a PEG ratio of 1.42 and a beta of 1.07. The firm has a 50-day simple moving average of $41.33 and a 200 day simple moving average of $38.09. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.87.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, meeting the consensus estimate of $0.79. Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, research analysts forecast that Citizens Financial Group will post 3.22 EPS for the current year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $1.68 annualized dividend and a dividend yield of 3.96%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 60.87%.

Insiders Place Their Bets

In other news, insider Craig Jack Read sold 3,938 shares of Citizens Financial Group 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 completion of the sale, the insider now directly owns 33,620 shares of the company’s stock, valued at approximately $1,454,401.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.62% of the company’s stock.

Hedge Funds Weigh In On Citizens Financial Group

Several hedge funds have recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Citizens Financial Group by 35.9% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 78,203 shares of the bank’s stock valued at $2,838,000 after purchasing an additional 20,649 shares during the period. Canada Pension Plan Investment Board grew its stake in Citizens Financial Group by 101.6% in the first quarter. Canada Pension Plan Investment Board now owns 761,679 shares of the bank’s stock valued at $27,641,000 after acquiring an additional 383,947 shares during the period. Duality Advisers LP bought a new stake in shares of Citizens Financial Group in the first quarter worth about $1,180,000. Lloyd Advisory Services LLC. bought a new stake in shares of Citizens Financial Group in the first quarter worth about $930,000. Finally, SG Americas Securities LLC raised its position in shares of Citizens Financial Group by 642.6% during the first quarter. SG Americas Securities LLC now owns 272,676 shares of the bank’s stock worth $9,895,000 after purchasing an additional 235,958 shares during the period. 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.