Piper Sandler Increases Citizens Financial Group (NYSE:CFG) Price Target to $48.00

Citizens Financial Group (NYSE:CFG) had its price objective boosted by Piper Sandler from $45.00 to $48.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the bank’s stock.

A number of other equities research analysts also recently weighed in on the company. Stephens raised their price objective on Citizens Financial Group from $40.00 to $42.00 and gave the company an overweight rating in a research report on Friday, July 19th. Morgan Stanley raised their price target on Citizens Financial Group from $38.00 to $41.00 and gave the stock an equal weight rating in a report on Thursday, July 18th. DA Davidson raised their price objective on Citizens Financial Group from $41.00 to $46.00 and gave the stock a buy rating in a research note on Thursday, July 18th. The Goldman Sachs Group raised their price objective on Citizens Financial Group from $43.00 to $49.00 and gave the stock a buy rating in a research note on Thursday, July 18th. Finally, Wedbush reduced their price objective on Citizens Financial Group from $38.00 to $35.00 and set a neutral rating for the company in a research note on Thursday, April 18th. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Citizens Financial Group presently has a consensus rating of Hold and an average target price of $41.60.

Citizens Financial Group Price Performance

CFG opened at $43.00 on Friday. Citizens Financial Group has a 12-month low of $22.77 and a 12-month high of $43.96. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60. The business’s fifty day simple moving average is $36.61 and its 200-day simple moving average is $34.68. The company has a market capitalization of $19.57 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.55 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the previous year, the company posted $0.92 EPS. Citizens Financial Group’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that Citizens Financial Group will post 3.24 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.91%. The ex-dividend date is Wednesday, July 31st. Citizens Financial Group’s payout ratio is currently 60.87%.

Insider Buying and Selling at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $43.26, for a total value of $170,357.88. Following the sale, the insider now directly owns 33,620 shares of the company’s stock, valued at $1,454,401.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.62% of the stock is owned by corporate insiders.

Institutional Trading of Citizens Financial Group

A number of institutional investors have recently made changes to their positions in CFG. Innealta Capital LLC acquired a new stake in shares of Citizens Financial Group in the second quarter worth approximately $25,000. Larson Financial Group LLC acquired a new stake in shares of Citizens Financial Group in the fourth quarter worth approximately $33,000. Versant Capital Management Inc boosted its stake in shares of Citizens Financial Group by 262.8% in the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock worth $34,000 after acquiring an additional 678 shares during the last quarter. Quarry LP boosted its stake in shares of Citizens Financial Group by 183.1% in the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after acquiring an additional 714 shares during the last quarter. Finally, CVA Family Office LLC acquired a new position in Citizens Financial Group during the fourth quarter worth $40,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Company Profile

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.