Citizens Financial Group (NYSE:CFG) Price Target Raised to $56.00 at Keefe, Bruyette & Woods

Citizens Financial Group (NYSE:CFG) had its price target hoisted by Keefe, Bruyette & Woods from $53.00 to $56.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a market perform rating on the bank’s stock.

Several other equities analysts also recently commented on the company. DA Davidson increased their target price on Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Barclays increased their target price on Citizens Financial Group from $47.00 to $52.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Piper Sandler raised their price objective on Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Compass Point raised their price objective on Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Citigroup raised their price objective on Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Citizens Financial Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

Citizens Financial Group Stock Performance

CFG opened at $48.34 on Tuesday. The firm has a market cap of $21.30 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. Citizens Financial Group has a 52-week low of $30.24 and a 52-week high of $49.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. The business’s fifty day moving average is $45.66 and its 200-day moving average is $42.79.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1,962,330 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. Citizens Financial Group’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 EPS. Sell-side analysts expect that Citizens Financial Group will post 3.85 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, January 31st. This represents a $1.68 dividend on an annualized basis and a yield of 3.48%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 55.45%.

Institutional Trading of Citizens Financial Group

Several hedge funds have recently made changes to their positions in the company. State Street Corp raised its stake in shares of Citizens Financial Group by 6.7% in the third quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock valued at $1,060,689,000 after buying an additional 1,615,144 shares during the period. Wellington Management Group LLP raised its stake in shares of Citizens Financial Group by 207.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock valued at $339,733,000 after purchasing an additional 5,579,313 shares during the period. Nordea Investment Management AB raised its stake in shares of Citizens Financial Group by 19.3% during the 4th quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank’s stock valued at $217,781,000 after purchasing an additional 805,758 shares during the period. AQR Capital Management LLC raised its stake in shares of Citizens Financial Group by 61.4% during the 2nd quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock valued at $155,909,000 after purchasing an additional 1,682,886 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Citizens Financial Group by 11.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,144,635 shares of the bank’s stock valued at $129,150,000 after purchasing an additional 334,386 shares during the period. 94.90% of the stock is currently owned by institutional investors.

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.