Citizens Financial Group (NYSE:CFG) Research Coverage Started at Truist Financial

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

CFG has been the subject of several other research reports. Raymond James raised Citizens Financial Group from a “market perform” rating to a “strong-buy” rating and set a $55.00 target price for the company in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods increased their target price on shares of 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. DA Davidson lifted their price target on shares of Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Citigroup increased their price objective on Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Compass Point lifted their target price on Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $47.78.

Citizens Financial Group Price Performance

Shares of CFG opened at $44.77 on Tuesday. Citizens Financial Group has a one year low of $30.24 and a one year high of $49.25. The stock’s fifty day moving average is $45.47 and its 200-day moving average is $42.18. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market capitalization of $19.73 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 1.76 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, hitting analysts’ consensus estimates of $0.79. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. Citizens Financial Group’s revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 EPS. Equities analysts anticipate that Citizens Financial Group will post 3.2 EPS for the current year.

Citizens Financial Group Dividend Announcement

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

Hedge Funds Weigh In On Citizens Financial Group

A number of hedge funds have recently modified their holdings of CFG. Commerce Bank increased its position in Citizens Financial Group by 1.9% in the 3rd quarter. Commerce Bank now owns 13,177 shares of the bank’s stock worth $541,000 after purchasing an additional 250 shares during the last quarter. Versant Capital Management Inc raised its position in Citizens Financial Group by 17.4% during the fourth quarter. Versant Capital Management Inc now owns 1,685 shares of the bank’s stock valued at $74,000 after acquiring an additional 250 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in Citizens Financial Group by 12.7% in the second quarter. Cullen Frost Bankers Inc. now owns 2,344 shares of the bank’s stock valued at $84,000 after acquiring an additional 264 shares during the last quarter. Cobblestone Capital Advisors LLC NY lifted its stake in Citizens Financial Group by 2.5% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 11,395 shares of the bank’s stock valued at $468,000 after acquiring an additional 280 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. grew its position in Citizens Financial Group by 0.3% in the third quarter. ZWJ Investment Counsel Inc. now owns 88,829 shares of the bank’s stock worth $3,648,000 after acquiring an additional 308 shares in the last quarter. 94.90% of the stock is 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.