Citizens Financial Group (NYSE:CFG) Price Target Raised to $53.00

Citizens Financial Group (NYSE:CFG) had its target price raised by Piper Sandler from $48.00 to $53.00 in a research report released on Tuesday,Benzinga reports. They currently have an overweight rating on the bank’s stock.

Other analysts have also issued reports about the stock. Citigroup boosted their price target on shares of Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Keefe, Bruyette & Woods boosted their price target on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a “market perform” rating in a research note on Monday, September 30th. Royal Bank of Canada boosted their price target on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Barclays upped their target price on shares of Citizens Financial Group from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group upped their target price on shares of Citizens Financial Group from $48.00 to $59.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Citizens Financial Group presently has an average rating of “Hold” and an average price target of $45.80.

Citizens Financial Group Stock Down 0.6 %

Shares of CFG opened at $46.78 on Tuesday. The firm has a market cap of $20.62 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 1.79 and a beta of 1.08. Citizens Financial Group has a 12-month low of $27.97 and a 12-month high of $49.25. The company’s 50-day moving average price is $43.78 and its 200 day moving average price is $40.41. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

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

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Wednesday, October 30th. Citizens Financial Group’s payout ratio is currently 66.14%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Costello Asset Management INC acquired a new position in Citizens Financial Group during the third quarter worth approximately $25,000. Ashton Thomas Securities LLC acquired a new position in Citizens Financial Group during the third quarter worth approximately $27,000. Catalyst Capital Advisors LLC acquired a new position in Citizens Financial Group during the third quarter worth approximately $28,000. Innealta Capital LLC acquired a new position in Citizens Financial Group during the second quarter worth approximately $25,000. Finally, Private Ocean LLC increased its position 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 buying an additional 838 shares during the period. Institutional investors and hedge funds 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.