Citizens Financial Group (NYSE:CFG) Given New $53.00 Price Target at UBS Group

Citizens Financial Group (NYSE:CFG) had its target price lifted by UBS Group from $50.00 to $53.00 in a research note released on Friday morning,Benzinga reports. They currently have a buy rating on the bank’s stock.

A number of other research analysts have also recently commented on CFG. Stephens decreased their target price on shares of Citizens Financial Group from $53.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, April 7th. Barclays decreased their target price on shares of Citizens Financial Group from $52.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Keefe, Bruyette & Woods decreased their target price on shares of Citizens Financial Group from $49.00 to $45.00 and set a “market perform” rating on the stock in a research report on Thursday, April 17th. Cowen started coverage on shares of Citizens Financial Group in a research report on Wednesday, May 14th. They issued a “buy” rating on the stock. Finally, Citigroup decreased their target price on shares of Citizens Financial Group from $58.00 to $51.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $47.89.

Citizens Financial Group Trading Up 0.2%

Shares of CFG stock opened at $40.33 on Friday. The company’s 50-day moving average price is $38.32 and its 200-day moving average price is $42.81. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The stock has a market cap of $17.63 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 0.81 and a beta of 0.74. Citizens Financial Group has a twelve month low of $32.60 and a twelve month high of $49.25.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, April 16th. The bank reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. As a group, equities analysts predict that Citizens Financial Group will post 3.92 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were paid a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $1.68 annualized dividend and a yield of 4.17%. Citizens Financial Group’s dividend payout ratio is currently 53.33%.

Hedge Funds Weigh In On Citizens Financial Group

Hedge funds have recently added to or reduced their stakes in the stock. Great Valley Advisor Group Inc. grew its position in Citizens Financial Group by 0.6% during the 4th quarter. Great Valley Advisor Group Inc. now owns 39,766 shares of the bank’s stock worth $1,740,000 after purchasing an additional 224 shares during the last quarter. 1620 Investment Advisors Inc. increased its stake in Citizens Financial Group by 3.2% in the fourth quarter. 1620 Investment Advisors Inc. now owns 7,713 shares of the bank’s stock valued at $338,000 after purchasing an additional 238 shares during the period. NewEdge Advisors LLC increased its stake in Citizens Financial Group by 2.4% in the first quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock valued at $472,000 after purchasing an additional 274 shares during the period. True Wealth Design LLC increased its stake in Citizens Financial Group by 10.5% in the fourth quarter. True Wealth Design LLC now owns 2,890 shares of the bank’s stock valued at $126,000 after purchasing an additional 275 shares during the period. Finally, Park Avenue Securities LLC increased its stake in Citizens Financial Group by 0.5% in the first quarter. Park Avenue Securities LLC now owns 53,879 shares of the bank’s stock valued at $2,207,000 after purchasing an additional 289 shares during the period. 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.