Citizens Financial Group (NYSE:CFG) Hits New 12-Month High at $37.30

Citizens Financial Group, Inc. (NYSE:CFG)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $37.30 and last traded at $37.15, with a volume of 153225 shares traded. The stock had previously closed at $37.16.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CFG. Argus lifted their price target on Citizens Financial Group from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Wedbush reduced their price target on shares of Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, April 18th. Keefe, Bruyette & Woods increased their target price on Citizens Financial Group from $35.00 to $39.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Piper Sandler raised Citizens Financial Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $35.00 to $41.00 in a research report on Friday, April 26th. Finally, Citigroup lifted their target price on Citizens Financial Group from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Citizens Financial Group presently has a consensus rating of “Hold” and a consensus price target of $37.73.

Citizens Financial Group Stock Up 0.2 %

The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.63. The business’s fifty day moving average price is $34.93 and its two-hundred day moving average price is $32.36. The firm has a market cap of $16.64 billion, a P/E ratio of 13.25 and a beta of 1.12.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.10). Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the company earned $1.00 earnings per share. The company’s quarterly revenue was down 7.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Citizens Financial Group, Inc. will post 3.16 EPS for the current year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date was Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio is 60.87%.

Insider Activity

In other Citizens Financial Group news, insider Craig Jack Read sold 6,327 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $33.70, for a total value of $213,219.90. Following the sale, the insider now owns 37,558 shares of the company’s stock, valued at approximately $1,265,704.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.62% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CFG. Capital International Investors lifted its stake in shares of Citizens Financial Group by 4.4% in the first quarter. Capital International Investors now owns 36,709,412 shares of the bank’s stock valued at $1,332,185,000 after buying an additional 1,552,333 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in shares of Citizens Financial Group by 5.7% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 11,594,481 shares of the bank’s stock valued at $310,732,000 after purchasing an additional 621,715 shares during the period. Wellington Management Group LLP increased its position in shares of Citizens Financial Group by 217.5% during the third quarter. Wellington Management Group LLP now owns 7,978,410 shares of the bank’s stock valued at $213,821,000 after purchasing an additional 5,465,824 shares during the period. LSV Asset Management raised its stake in shares of Citizens Financial Group by 1.5% in the fourth quarter. LSV Asset Management now owns 6,504,591 shares of the bank’s stock valued at $215,562,000 after purchasing an additional 95,292 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in Citizens Financial Group by 6.4% during the third quarter. Royal Bank of Canada now owns 5,532,398 shares of the bank’s stock worth $148,268,000 after buying an additional 332,222 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

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.