Citizens Financial Group (NYSE:CFG) Sets New 12-Month High – What’s Next?

Shares of Citizens Financial Group, Inc. (NYSE:CFG) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $71.45 and last traded at $71.5480, with a volume of 846538 shares traded. The stock had previously closed at $70.07.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Citigroup boosted their target price on Citizens Financial Group from $75.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. DA Davidson increased their price target on Citizens Financial Group from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Morgan Stanley raised their price objective on Citizens Financial Group from $73.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday. Royal Bank Of Canada boosted their price objective on Citizens Financial Group from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Finally, Truist Financial upped their target price on Citizens Financial Group from $69.00 to $72.00 and gave the stock a “hold” rating in a research report on Wednesday, June 24th. Eighteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $71.64.

Citizens Financial Group Price Performance

The company has a market capitalization of $30.36 billion, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 0.56 and a beta of 0.68. The business’s 50-day moving average is $64.77 and its two-hundred day moving average is $62.52. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.51.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.03. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The business’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 earnings per share. As a group, analysts predict that Citizens Financial Group, Inc. will post 5.2 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were paid a dividend of $0.46 per share. The ex-dividend date was Thursday, April 30th. This represents a $1.84 annualized dividend and a dividend yield of 2.6%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 43.50%.

Insider Activity

In other news, insider Michelle Moosally sold 6,050 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total transaction of $376,068.00. Following the transaction, the insider owned 22,565 shares of the company’s stock, valued at $1,402,640.40. This represents a 21.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Citizens Financial Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new position in Citizens Financial Group during the fourth quarter worth about $26,000. Cedar Mountain Advisors LLC bought a new stake in Citizens Financial Group during the 1st quarter valued at $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Citizens Financial Group in the fourth quarter worth $29,000. Activest Wealth Management raised its stake in shares of Citizens Financial Group by 5,600.0% during the 4th quarter. Activest Wealth Management now owns 513 shares of the bank’s stock valued at $30,000 after purchasing an additional 504 shares during the period. Finally, DV Equities LLC bought a new position in Citizens Financial Group in the 4th quarter worth about $35,000. 94.90% of the stock is currently owned by institutional investors.

About Citizens Financial Group

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.