Citizens Financial Group (NYSE:CFG) Given New $43.00 Price Target at Citigroup

Citizens Financial Group (NYSE:CFG) had its price target raised by Citigroup from $39.00 to $43.00 in a report published on Friday, Benzinga reports. The firm currently has a buy rating on the bank’s stock.

CFG has been the topic of a number of other research reports. TheStreet upgraded Citizens Financial Group from a c+ rating to a b- rating in a research report on Tuesday, December 26th. Jefferies Financial Group raised their price objective on Citizens Financial Group from $35.00 to $36.00 and gave the company a hold rating in a report on Monday, April 8th. StockNews.com lowered Citizens Financial Group from a hold rating to a sell rating in a report on Tuesday, March 5th. UBS Group raised their price objective on Citizens Financial Group from $37.00 to $38.00 and gave the company a buy rating in a report on Thursday, January 18th. Finally, Wedbush decreased their price objective on Citizens Financial Group from $38.00 to $35.00 and set a neutral rating on the stock in a report on Thursday. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $36.29.

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $33.99 on Friday. The stock has a market capitalization of $15.58 billion, a price-to-earnings ratio of 12.32 and a beta of 1.38. Citizens Financial Group has a 12 month low of $22.77 and a 12 month high of $36.38. The firm’s 50 day simple moving average is $33.33 and its 200-day simple moving average is $30.63. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.88.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.96 billion. Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. Citizens Financial Group’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 EPS. Analysts expect that Citizens Financial Group will post 3.25 EPS for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date is Tuesday, April 30th. Citizens Financial Group’s payout ratio is 60.87%.

Insider Buying and Selling

In related news, insider Craig Jack Read sold 4,508 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $33.54, for a total transaction of $151,198.32. Following the completion of the sale, the insider now directly owns 43,885 shares of the company’s stock, valued at approximately $1,471,902.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Institutional Trading of Citizens Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of CFG. Lindbrook Capital LLC grew its position in Citizens Financial Group by 100.8% in the 3rd quarter. Lindbrook Capital LLC now owns 988 shares of the bank’s stock valued at $26,000 after acquiring an additional 496 shares in the last quarter. Groupama Asset Managment acquired a new position in Citizens Financial Group in the 4th quarter valued at about $27,000. Resurgent Financial Advisors LLC acquired a new position in Citizens Financial Group in the 4th quarter valued at about $28,000. Clear Street Markets LLC grew its position in Citizens Financial Group by 93.6% in the 1st quarter. Clear Street Markets LLC now owns 964 shares of the bank’s stock valued at $29,000 after acquiring an additional 466 shares in the last quarter. Finally, Larson Financial Group LLC purchased a new position in shares of Citizens Financial Group in the 4th quarter valued at about $33,000. 94.90% of the stock is owned by institutional investors and hedge funds.

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.