Citizens Financial Group (NYSE:CFG) Receives Strong-Buy Rating from Raymond James

Raymond James restated their strong-buy rating on shares of Citizens Financial Group (NYSE:CFG) in a report published on Tuesday,Benzinga reports. They currently have a $58.00 target price on the bank’s stock, up from their previous target price of $55.00.

Several other equities research analysts also recently weighed in on the stock. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Piper Sandler boosted their target price on shares of 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 boosted their target price on shares of Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Citigroup boosted their target price on shares of Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, The Goldman Sachs Group lifted their price target on shares of Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from 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

Citizens Financial Group stock opened at $48.34 on Tuesday. Citizens Financial Group has a 12-month low of $30.24 and a 12-month high of $49.25. The company has a market capitalization of $21.30 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. The firm’s fifty day moving average price is $45.66 and its 200 day moving average price is $42.79.

Citizens Financial Group (NYSE:CFG) last released its quarterly 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 firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1,962,330 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 EPS. On average, research analysts forecast that Citizens Financial Group will post 3.85 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

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

Institutional Trading of Citizens Financial Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its position in shares of Citizens Financial Group by 6.7% during the 3rd quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock worth $1,060,689,000 after buying an additional 1,615,144 shares in the last quarter. Wellington Management Group LLP raised its position 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 worth $339,733,000 after buying an additional 5,579,313 shares in the last quarter. Nordea Investment Management AB raised its position 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 worth $217,781,000 after buying an additional 805,758 shares in the last quarter. AQR Capital Management LLC raised its position 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 worth $155,909,000 after buying an additional 1,682,886 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 worth $129,150,000 after buying an additional 334,386 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors.

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.