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

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

Several other analysts also recently commented on the company. Piper Sandler raised their target price on Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Morgan Stanley boosted their price objective on Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Barclays boosted their price objective on Citizens Financial Group from $40.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods raised their target price 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. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Citizens Financial Group currently has a consensus rating of “Hold” and an average price target of $44.80.

Citizens Financial Group Price Performance

Shares of CFG stock opened at $47.65 on Thursday. The business has a fifty day simple moving average of $42.83 and a 200 day simple moving average of $39.82. The company has a market cap of $21.00 billion, a P/E ratio of 18.76, a P/E/G ratio of 1.78 and a beta of 1.07. 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 twelve month low of $26.13 and a twelve month high of $48.35.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, hitting analysts’ consensus estimates of $0.79. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 earnings per share. On average, sell-side analysts forecast that Citizens Financial Group will post 3.2 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.53%. The ex-dividend date was Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio is 66.14%.

Institutional Investors Weigh In On Citizens Financial Group

Several large investors have recently modified their holdings of the stock. Innealta Capital LLC bought a new position in Citizens Financial Group during the second quarter valued at $25,000. Costello Asset Management INC bought a new position in shares of Citizens Financial Group during the 3rd quarter worth $25,000. Ashton Thomas Securities LLC purchased a new stake in Citizens Financial Group in the 3rd quarter worth about $27,000. Catalyst Capital Advisors LLC bought a new stake in Citizens Financial Group in the 3rd quarter valued at about $28,000. Finally, Versant Capital Management Inc lifted its holdings in Citizens Financial Group by 262.8% during the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after purchasing an additional 678 shares during the last quarter. 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.