Citizens Financial Group (NYSE:CFG) Price Target Raised to $47.00

Citizens Financial Group (NYSE:CFG) had its price objective hoisted by Barclays from $40.00 to $47.00 in a research report released on Thursday morning, Benzinga reports. Barclays currently has an equal weight rating on the bank’s stock.

A number of other equities analysts have also issued reports on CFG. Piper Sandler increased their target price on shares of Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Raymond James initiated coverage on shares of Citizens Financial Group in a report on Thursday, July 11th. They issued a “market perform” rating for the company. Stephens boosted their target price on Citizens Financial Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Evercore ISI decreased their price target on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a research note on Wednesday, October 2nd. Finally, StockNews.com cut Citizens Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $43.80.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $42.47 on Thursday. The firm’s 50 day moving average is $41.33 and its two-hundred day moving average is $38.09. The firm has a market capitalization of $19.32 billion, a P/E ratio of 15.39, a PEG ratio of 1.42 and a beta of 1.07. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60. Citizens Financial Group has a 52 week low of $22.77 and a 52 week high of $44.39.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, meeting the consensus estimate of $0.79. Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the firm earned $0.85 EPS. The firm’s revenue was down 5.6% compared to the same quarter last year. Analysts anticipate that Citizens Financial Group will post 3.22 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio (DPR) is currently 60.87%.

Insiders Place Their Bets

In related news, insider Craig Jack Read sold 3,938 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total transaction of $170,357.88. Following the transaction, the insider now owns 33,620 shares of the company’s stock, valued at approximately $1,454,401.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.62% of the company’s stock.

Institutional Trading of Citizens Financial Group

Several large investors have recently made changes to their positions in the stock. Vest Financial LLC boosted its position in Citizens Financial Group by 13.9% during the third quarter. Vest Financial LLC now owns 36,100 shares of the bank’s stock worth $1,483,000 after purchasing an additional 4,394 shares during the period. Schubert & Co bought a new stake in shares of Citizens Financial Group during the 3rd quarter worth $404,000. Friedenthal Financial bought a new stake in shares of Citizens Financial Group during the 3rd quarter worth $50,000. Blue Trust Inc. raised its holdings in Citizens Financial Group by 103.6% in the 3rd quarter. Blue Trust Inc. now owns 10,203 shares of the bank’s stock worth $419,000 after acquiring an additional 5,192 shares during the period. Finally, Aaron Wealth Advisors LLC bought a new stake in Citizens Financial Group during the third quarter valued at about $210,000. 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.