Citizens Financial Group (NYSE:CFG) PT Raised to $45.00 at Royal Bank of Canada

Citizens Financial Group (NYSE:CFG) had its target price hoisted by Royal Bank of Canada from $43.00 to $45.00 in a research note released on Thursday morning, MarketBeat.com reports. The brokerage currently has an outperform rating on the bank’s stock.

CFG has been the topic of a number of other research reports. Keefe, Bruyette & Woods raised their target price on shares of Citizens Financial Group from $42.00 to $46.00 and gave the company a “market perform” rating in a research report on Monday, September 30th. Evercore ISI dropped 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 research note on Wednesday, October 2nd. Morgan Stanley raised their price target on shares of Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Jefferies Financial Group raised their price target on shares of Citizens Financial Group from $36.00 to $37.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Finally, Raymond James started coverage on shares of Citizens Financial Group in a research note on Thursday, July 11th. They set a “market perform” rating for the company. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $43.80.

Citizens Financial Group Stock Up 0.8 %

Shares of CFG opened at $42.47 on Thursday. Citizens Financial Group has a 12 month low of $22.77 and a 12 month high of $44.39. The firm’s 50 day moving average is $41.33 and its 200-day moving average is $38.07. The stock has a market capitalization of $19.32 billion, a PE ratio of 15.39, a P/E/G 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 (NYSE:CFG) last posted its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.79. The business 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 10.74% and a return on equity of 6.21%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. Equities research analysts forecast that Citizens Financial Group will post 3.22 EPS for the current year.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th will be issued 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 of this dividend is Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in Citizens Financial Group during the second quarter worth about $25,000. Versant Capital Management Inc boosted its stake in Citizens Financial Group by 262.8% in the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after acquiring an additional 678 shares during the last quarter. Private Ocean LLC raised its position in shares of Citizens Financial Group by 484.4% in the second quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock valued at $36,000 after purchasing an additional 838 shares during the period. Ridgewood Investments LLC bought a new stake in shares of Citizens Financial Group in the second quarter valued at approximately $48,000. Finally, Atlas Capital Advisors LLC bought a new stake in shares of Citizens Financial Group in the second quarter valued at approximately $48,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

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.