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

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

CFG has been the topic of a number of other research reports. Royal Bank of Canada increased their price objective on Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday. Jefferies Financial Group increased their price objective on Citizens Financial Group from $36.00 to $37.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Raymond James assumed coverage on Citizens Financial Group in a report on Thursday, July 11th. They issued a “market perform” rating on the stock. Morgan Stanley increased their price objective on Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Finally, The Goldman Sachs Group raised their price target on Citizens Financial Group from $43.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $43.80.

Citizens Financial Group Price Performance

CFG stock opened at $42.47 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a market capitalization of $19.32 billion, a P/E ratio of 15.39, a P/E/G ratio of 1.42 and a beta of 1.07. The business’s 50-day moving average is $41.33 and its two-hundred day moving average is $38.07. Citizens Financial Group has a 1 year low of $22.77 and a 1 year high of $44.39.

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

Citizens Financial Group Announces Dividend

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

Insider Activity

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

Institutional Trading of Citizens Financial Group

Several hedge funds have recently modified their holdings of CFG. Innealta Capital LLC acquired a new position in Citizens Financial Group during the second quarter worth $25,000. Versant Capital Management Inc raised its holdings in Citizens Financial Group by 262.8% during the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock worth $34,000 after purchasing an additional 678 shares during the last quarter. Private Ocean LLC raised its holdings in Citizens Financial Group by 484.4% during the second quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock worth $36,000 after purchasing an additional 838 shares during the last quarter. Friedenthal Financial acquired a new position in Citizens Financial Group during the third quarter worth $50,000. Finally, Claro Advisors LLC acquired a new position in Citizens Financial Group during the third quarter worth $50,000. 94.90% of the stock is owned by institutional investors and hedge funds.

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.