Citizens Financial Group (NYSE:CFG) Price Target Raised to $40.00

Citizens Financial Group (NYSE:CFG) had its price target hoisted by Keefe, Bruyette & Woods from $39.00 to $40.00 in a research note issued to investors on Tuesday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

CFG has been the subject of a number of other reports. Wedbush lowered 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 report on Thursday, April 18th. Piper Sandler raised shares of Citizens Financial Group from a neutral rating to an overweight rating and upped their price objective for the company from $35.00 to $41.00 in a research note on Friday, April 26th. Jefferies Financial Group increased their target price on shares of Citizens Financial Group from $36.00 to $37.00 and gave the stock a hold rating in a report on Wednesday, July 3rd. Evercore ISI boosted their price target on Citizens Financial Group from $38.00 to $39.00 and gave the company an in-line rating in a report on Tuesday, June 25th. Finally, Citigroup increased their price objective on Citizens Financial Group from $39.00 to $43.00 and gave the stock a buy rating in a report on Friday, April 19th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $37.80.

Citizens Financial Group Stock Performance

NYSE CFG opened at $38.20 on Tuesday. The company has a 50-day simple moving average of $35.40 and a two-hundred day simple moving average of $33.99. Citizens Financial Group has a 12-month low of $22.77 and a 12-month high of $38.27. The firm has a market cap of $17.38 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 1.38 and a beta of 1.10. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.63.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.10). The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The company’s revenue was down 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.00 earnings per share. On average, equities analysts forecast that Citizens Financial Group will post 3.17 EPS for the current year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.40%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 60.87%.

Insider Buying and Selling

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 shares were sold at an average price of $33.70, for a total transaction of $213,219.90. Following the completion of the transaction, the insider now owns 37,558 shares of the company’s stock, valued at $1,265,704.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.62% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC purchased a new stake in shares of Citizens Financial Group in the fourth quarter worth $33,000. Versant Capital Management Inc grew its position in Citizens Financial Group by 262.8% during the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after purchasing an additional 678 shares during the last quarter. Quarry LP grew its position in Citizens Financial Group by 183.1% during the 4th quarter. Quarry LP now owns 1,104 shares of the bank’s stock valued at $37,000 after purchasing an additional 714 shares during the last quarter. CVA Family Office LLC bought a new stake in Citizens Financial Group during the 4th quarter valued at about $40,000. Finally, Blue Trust Inc. raised its holdings in Citizens Financial Group by 77.6% in the fourth quarter. Blue Trust Inc. now owns 1,314 shares of the bank’s stock worth $44,000 after buying an additional 574 shares during 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.