Citizens Financial Group, Inc. (NYSE:CFG) shares reached a new 52-week high during mid-day trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $48.00 to $50.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Citizens Financial Group traded as high as $48.09 and last traded at $48.06, with a volume of 4896721 shares trading hands. The stock had previously closed at $46.84.
Several other research firms have also recently issued reports on CFG. Deutsche Bank Aktiengesellschaft boosted their target price on Citizens Financial Group from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, April 1st. DA Davidson lifted their price target on Citizens Financial Group from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, January 25th. Zacks Investment Research lowered Citizens Financial Group from a “strong-buy” rating to a “hold” rating and set a $48.00 price target on the stock. in a research report on Tuesday, March 9th. Stephens lifted their price target on Citizens Financial Group from $45.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, March 30th. Finally, UBS Group lowered Citizens Financial Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $47.27.
Several large investors have recently made changes to their positions in CFG. Vantage Consulting Group Inc bought a new position in shares of Citizens Financial Group during the fourth quarter valued at $27,000. Reby Advisors LLC bought a new position in shares of Citizens Financial Group during the fourth quarter valued at $31,000. Alpha DNA Investment Management LLC bought a new position in shares of Citizens Financial Group during the fourth quarter valued at $31,000. Regent Peak Wealth Advisors LLC bought a new position in shares of Citizens Financial Group during the fourth quarter valued at $34,000. Finally, RBA Wealth Management LLC bought a new position in shares of Citizens Financial Group during the first quarter valued at $38,000. 92.77% of the stock is currently owned by hedge funds and other institutional investors.
The stock has a market capitalization of $20.43 billion, a P/E ratio of 21.65 and a beta of 1.87. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average price of $44.85 and a 200-day moving average price of $38.53.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Thursday, April 15th. The bank reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.40. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Citizens Financial Group had a return on equity of 5.30% and a net margin of 13.04%. Citizens Financial Group’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 earnings per share. On average, equities analysts expect that Citizens Financial Group, Inc. will post 2.3 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 13th. Investors of record on Thursday, April 29th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Wednesday, April 28th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 40.63%.
Citizens Financial Group announced that its board has approved a share repurchase plan on Wednesday, January 20th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the bank to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.
About Citizens Financial Group (NYSE:CFG)
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking. The Consumer Banking segment offers traditional banking products and services, including checking and savings accounts, home and education loans, credit cards, business loans, mortgage and home equity lending, and unsecured product finance and personal loans, as well as wealth management and investment services to retail customers and small businesses.
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