Brokerages Set Citizens Financial Group, Inc. (NYSE:CFG) Target Price at $47.41

Citizens Financial Group, Inc. (NYSE:CFG) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $47.41.

Several analysts have recently weighed in on CFG shares. Raymond James upgraded 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 report on Wednesday, December 18th. The Goldman Sachs Group lifted their price objective 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. Piper Sandler upped 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 note on Tuesday, December 3rd. Royal Bank of Canada lifted their price target on shares of Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Compass Point increased their price objective on Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th.

Institutional Investors Weigh In On Citizens Financial Group

Several institutional investors have recently bought and sold shares of CFG. Commerce Bank grew its stake in shares of Citizens Financial Group by 1.9% during the third quarter. Commerce Bank now owns 13,177 shares of the bank’s stock worth $541,000 after acquiring an additional 250 shares during the last quarter. Cullen Frost Bankers Inc. grew its position in Citizens Financial Group by 12.7% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 2,344 shares of the bank’s stock worth $84,000 after purchasing an additional 264 shares during the last quarter. Cobblestone Capital Advisors LLC NY increased its stake in Citizens Financial Group by 2.5% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 11,395 shares of the bank’s stock valued at $468,000 after purchasing an additional 280 shares in the last quarter. ZWJ Investment Counsel Inc. raised its holdings in shares of 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 buying an additional 308 shares during the last quarter. Finally, SYM FINANCIAL Corp raised its holdings in shares of Citizens Financial Group by 4.8% in the third quarter. SYM FINANCIAL Corp now owns 6,976 shares of the bank’s stock worth $287,000 after buying an additional 322 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Stock Performance

Citizens Financial Group stock opened at $43.62 on Wednesday. Citizens Financial Group has a 1-year low of $30.24 and a 1-year high of $49.25. The company’s 50-day moving average is $45.04 and its 200 day moving average is $41.58. The firm has a market capitalization of $19.22 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 1.76 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86.

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

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $1.68 annualized dividend and a dividend yield of 3.85%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 66.14%.

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.