Citizens Financial Group, Inc. (NYSE:CFG) Receives $45.47 Average Price Target from Brokerages

Shares of Citizens Financial Group, Inc. (NYSE:CFG) have received a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $46.27.

A number of equities research analysts have weighed in on the stock. Evercore ISI cut their price target on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a report on Wednesday, October 2nd. Barclays upped their price objective on shares of Citizens Financial Group from $40.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods raised their target price on shares of Citizens Financial Group from $46.00 to $53.00 and gave the stock a “market perform” rating in a report on Wednesday. Piper Sandler raised their target price on shares of Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, The Goldman Sachs Group raised their target price on shares of Citizens Financial Group from $48.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th.

Hedge Funds Weigh In On Citizens Financial Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swedbank AB bought a new position in shares of Citizens Financial Group in the first quarter valued at approximately $12,263,000. Atria Investments Inc raised its position in shares of Citizens Financial Group by 21.5% in the first quarter. Atria Investments Inc now owns 37,702 shares of the bank’s stock valued at $1,368,000 after purchasing an additional 6,681 shares during the period. Cetera Investment Advisers raised its position in shares of Citizens Financial Group by 396.5% in the first quarter. Cetera Investment Advisers now owns 128,852 shares of the bank’s stock valued at $4,676,000 after purchasing an additional 102,899 shares during the period. Cetera Advisors LLC raised its position in shares of Citizens Financial Group by 19.1% in the first quarter. Cetera Advisors LLC now owns 21,379 shares of the bank’s stock valued at $776,000 after purchasing an additional 3,434 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Citizens Financial Group by 89.7% in the second quarter. GAMMA Investing LLC now owns 7,976 shares of the bank’s stock valued at $287,000 after purchasing an additional 3,771 shares during the period. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $46.60 on Friday. Citizens Financial Group has a twelve month low of $28.19 and a twelve month high of $49.25. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $20.54 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 1.79 and a beta of 1.08. The firm has a 50-day moving average of $43.91 and a two-hundred day moving average of $40.45.

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, meeting analysts’ consensus estimates of $0.79. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the company earned $0.85 EPS. Citizens Financial Group’s revenue was down 5.6% on a year-over-year basis. As a group, analysts expect that Citizens Financial Group will post 3.2 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Wednesday, October 30th. Citizens Financial Group’s payout ratio is presently 66.14%.

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.