Citizens Financial Group (NYSE:CFG) Stock Gets Price Target Trim from Citigroup

Citizens Financial Group (NYSE:CFG) had its price target trimmed by Citigroup from $84.00 to $74.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the bank’s stock.

A number of other equities research analysts have also recently issued reports on CFG. Barclays boosted their target price on shares of Citizens Financial Group from $77.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. TD Cowen started coverage on shares of Citizens Financial Group in a research report on Thursday, October 8th. They set a “buy” rating and a $75.00 price target on the stock. Argus set a $80.00 price target on shares of Citizens Financial Group in a research report on Wednesday, July 29th. Royal Bank Of Canada dropped their price objective on shares of Citizens Financial Group from $79.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating for the company in a report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.47.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $65.22 on Tuesday. The stock has a market cap of $27.47 billion, a P/E ratio of 13.05, a PEG ratio of 0.59 and a beta of 0.72. The stock has a 50 day simple moving average of $67.30 and a 200 day simple moving average of $67.22. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.74. Citizens Financial Group has a 1-year low of $49.00 and a 1-year high of $75.33.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. The business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the company posted $1.05 EPS. Research analysts anticipate that Citizens Financial Group will post 5.30 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.52 per share. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, October 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. Citizens Financial Group’s dividend payout ratio is 37.02%.

Hedge Funds Weigh In On Citizens Financial Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 55 North Private Wealth LLC lifted its position in shares of Citizens Financial Group by 4.6% during the 3rd quarter. 55 North Private Wealth LLC now owns 3,830 shares of the bank’s stock valued at $244,000 after acquiring an additional 170 shares during the period. Cookson Peirce & Co. Inc. increased its position in shares of Citizens Financial Group by 0.3% in the second quarter. Cookson Peirce & Co. Inc. now owns 56,309 shares of the bank’s stock worth $3,946,000 after purchasing an additional 174 shares during the period. Trustmark Bank Trust Department increased its position in shares of Citizens Financial Group by 4.9% in the second quarter. Trustmark Bank Trust Department now owns 4,278 shares of the bank’s stock worth $300,000 after purchasing an additional 198 shares during the period. GoalVest Advisory LLC increased its position in shares of Citizens Financial Group by 29.9% in the third quarter. GoalVest Advisory LLC now owns 883 shares of the bank’s stock worth $56,000 after purchasing an additional 203 shares during the period. Finally, Rockefeller Capital Management L.P. raised its stake in Citizens Financial Group by 0.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 64,323 shares of the bank’s stock valued at $3,757,000 after purchasing an additional 220 shares in the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to consumers, small businesses, middle-market companies, large corporations and institutional clients.

The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.