Citizens Financial Group (NYSE:CFG) Price Target Increased to $46.00 by Analysts at Keefe, Bruyette & Woods

Citizens Financial Group (NYSE:CFG) had its target price raised by Keefe, Bruyette & Woods from $42.00 to $46.00 in a research note released on Monday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

A number of other brokerages also recently weighed in on CFG. Morgan Stanley boosted their target price on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an equal weight rating in a research note on Monday, August 5th. Piper Sandler boosted their target price on shares of Citizens Financial Group from $45.00 to $48.00 and gave the stock an overweight rating in a research note on Friday, July 26th. DA Davidson boosted their target price on shares of Citizens Financial Group from $41.00 to $46.00 and gave the stock a buy rating in a research note on Thursday, July 18th. Royal Bank of Canada boosted their target price on shares of Citizens Financial Group from $35.00 to $43.00 and gave the stock an outperform rating in a research note on Thursday, July 18th. Finally, Jefferies Financial Group boosted their target price on shares of Citizens Financial Group from $36.00 to $37.00 and gave the stock a hold rating in a research note on Wednesday, July 3rd. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $42.60.

Citizens Financial Group Trading Up 0.7 %

Shares of CFG stock opened at $41.07 on Monday. Citizens Financial Group has a 12-month low of $22.77 and a 12-month high of $43.96. The company has a market capitalization of $18.69 billion, a P/E ratio of 14.88, a P/E/G ratio of 1.43 and a beta of 1.08. The firm has a 50-day moving average price of $41.17 and a 200 day moving average price of $37.44. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.01). Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the prior year, the business earned $0.92 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. Research analysts forecast that Citizens Financial Group will post 3.24 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Wednesday, July 31st. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Insider Activity at Citizens Financial Group

In other news, insider Craig Jack Read sold 3,938 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total value of $170,357.88. Following the completion of the transaction, the insider now owns 33,620 shares in the company, valued at $1,454,401.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CFG. AQR Capital Management LLC lifted its position in shares of 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 worth $155,909,000 after purchasing an additional 1,682,886 shares in the last quarter. Capital International Investors lifted its position in shares of Citizens Financial Group by 4.4% in the first quarter. Capital International Investors now owns 36,709,412 shares of the bank’s stock worth $1,332,185,000 after purchasing an additional 1,552,333 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Citizens Financial Group by 3,234.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,100,988 shares of the bank’s stock worth $39,669,000 after purchasing an additional 1,067,971 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Citizens Financial Group by 680.1% in the second quarter. National Bank of Canada FI now owns 803,919 shares of the bank’s stock worth $28,804,000 after purchasing an additional 700,860 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Citizens Financial Group by 15.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,429,264 shares of the bank’s stock worth $159,550,000 after purchasing an additional 587,115 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

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.