Citizens Financial Group, Inc. (NYSE:CFG) Stock Has Average Target Price of $77.28 According to Brokerages

Citizens Financial Group, Inc. (NYSE:CFG) has been given a consensus rating of “Moderate Buy” by the twenty brokerages that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $77.28.

Several research analysts recently weighed in on CFG shares. Argus set a $80.00 price objective on shares of Citizens Financial Group in a research report on Wednesday, July 29th. Jefferies Financial Group raised their price target on shares of Citizens Financial Group from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Royal Bank Of Canada lowered 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, October 19th. Evercore set a $74.00 target price on shares of Citizens Financial Group in a report on Tuesday. Finally, Truist Financial reduced their price objective on shares of Citizens Financial Group from $77.00 to $70.00 and set a “hold” rating on the stock in a research report on Tuesday, October 20th.

Hedge Funds Weigh In On Citizens Financial Group

Several large investors have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Citizens Financial Group during the second quarter worth $3,415,046,000. Robeco Institutional Asset Management B.V. grew its stake in Citizens Financial Group by 7,979.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 12,165,352 shares of the bank’s stock valued at $775,663,000 after purchasing an additional 12,014,785 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Citizens Financial Group by 1,252.4% during the third quarter. Assenagon Asset Management S.A. now owns 9,204,563 shares of the bank’s stock valued at $586,883,000 after buying an additional 8,523,938 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Citizens Financial Group by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,719,160 shares of the bank’s stock worth $282,927,000 after buying an additional 28,602 shares during the period. Finally, Amundi raised its position in Citizens Financial Group by 31.2% during the 2nd quarter. Amundi now owns 3,685,819 shares of the bank’s stock worth $258,265,000 after buying an additional 875,666 shares during the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $63.77 on Friday. The company has a fifty day moving average of $66.44 and a 200-day moving average of $65.54. The firm has a market capitalization of $26.73 billion, a P/E ratio of 12.83, a P/E/G ratio of 0.60 and a beta of 0.72. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.74. Citizens Financial Group has a twelve month low of $49.00 and a twelve month high of $75.33.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.34 billion. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. During the same period in the prior year, the firm earned $1.05 earnings per share. As a group, sell-side analysts anticipate that Citizens Financial Group will post 5.30 EPS for the current year.

Citizens Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, October 30th. Citizens Financial Group’s dividend payout ratio (DPR) is currently 37.02%.

About Citizens Financial Group

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.