Citizens Financial Group (NYSE:CFG) Price Target Raised to $37.00 at Jefferies Financial Group

Citizens Financial Group (NYSE:CFG) had its target price lifted by Jefferies Financial Group from $36.00 to $37.00 in a research note published on Wednesday morning, Benzinga reports. Jefferies Financial Group currently has a hold rating on the bank’s stock.

CFG has been the subject of several other reports. Citigroup boosted their target price on Citizens Financial Group from $39.00 to $43.00 and gave the stock a buy rating in a research report on Friday, April 19th. Keefe, Bruyette & Woods boosted their target price on Citizens Financial Group from $35.00 to $39.00 and gave the stock a market perform rating in a research report on Friday, April 5th. Morgan Stanley restated an equal weight rating and set a $38.00 target price on shares of Citizens Financial Group in a research report on Wednesday, June 12th. Evercore ISI boosted their target price on Citizens Financial Group from $38.00 to $39.00 and gave the stock an in-line rating in a research report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. decreased their target price on Citizens Financial Group from $36.50 to $36.00 and set a neutral rating for the company in a research report on Wednesday, May 1st. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $37.73.

Citizens Financial Group Price Performance

Shares of CFG stock opened at $36.05 on Wednesday. The stock has a 50-day moving average price of $35.20 and a 200 day moving average price of $33.84. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The firm has a market cap of $16.40 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.40 and a beta of 1.10. Citizens Financial Group has a 12 month low of $22.77 and a 12 month high of $37.30.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.96 billion. Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. Citizens Financial Group’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 earnings per share. Research analysts expect that Citizens Financial Group will post 3.16 EPS for the current year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend was Tuesday, April 30th. Citizens Financial Group’s payout ratio is 60.87%.

Insider Transactions at Citizens Financial Group

In related news, insider Craig Jack Read sold 6,327 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $33.70, for a total value of $213,219.90. Following the sale, the insider now owns 37,558 shares in the company, valued at approximately $1,265,704.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Citizens Financial Group

A number of large investors have recently added to or reduced their stakes in CFG. Wellington Management Group LLP raised its stake in Citizens Financial Group by 217.5% in the 3rd quarter. Wellington Management Group LLP now owns 7,978,410 shares of the bank’s stock valued at $213,821,000 after acquiring an additional 5,465,824 shares during the period. Norges Bank bought a new stake in Citizens Financial Group in the 4th quarter valued at $117,372,000. Capital International Investors raised its stake in Citizens Financial Group by 4.4% in the 1st quarter. Capital International Investors now owns 36,709,412 shares of the bank’s stock valued at $1,332,185,000 after acquiring an additional 1,552,333 shares during the period. Hsbc Holdings PLC grew its holdings in Citizens Financial Group by 96.3% in the 4th quarter. Hsbc Holdings PLC now owns 2,472,122 shares of the bank’s stock valued at $81,932,000 after buying an additional 1,212,642 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Citizens Financial Group by 130.0% in the 4th quarter. Franklin Resources Inc. now owns 1,955,230 shares of the bank’s stock valued at $64,796,000 after buying an additional 1,105,011 shares in the last quarter. Institutional investors 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.