Citizens Financial Group (NYSE:CFG) Price Target Raised to $42.00

Citizens Financial Group (NYSE:CFG) had its price target lifted by Stephens from $40.00 to $42.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the bank’s stock.

CFG has been the subject of several other research reports. DA Davidson upped their target price on shares of Citizens Financial Group from $41.00 to $46.00 and gave the company a buy rating in a research report on Thursday. Raymond James assumed coverage on shares of Citizens Financial Group in a report on Thursday, July 11th. They issued a market perform rating for the company. JPMorgan Chase & Co. decreased their price target on shares of Citizens Financial Group from $36.50 to $36.00 and set a neutral rating for the company in a report on Wednesday, May 1st. Evercore ISI boosted their price target on shares of 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, StockNews.com raised shares of Citizens Financial Group from a sell rating to a hold rating in a report on Sunday, May 5th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $41.13.

Citizens Financial Group Stock Performance

Shares of Citizens Financial Group stock opened at $41.00 on Friday. The firm has a fifty day moving average of $35.89 and a two-hundred day moving average of $34.28. The stock has a market capitalization of $18.66 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 1.55 and a beta of 1.10. Citizens Financial Group has a 52 week low of $22.77 and a 52 week high of $41.94. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.87 and a current ratio of 0.87.

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

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date is Wednesday, July 31st. Citizens Financial Group’s payout ratio is presently 60.87%.

Hedge Funds Weigh In On Citizens Financial Group

A number of large investors have recently modified their holdings of the business. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Citizens Financial Group by 3.9% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 8,046 shares of the bank’s stock worth $292,000 after buying an additional 305 shares during the last quarter. Czech National Bank boosted its stake in shares of Citizens Financial Group by 0.5% during the 1st quarter. Czech National Bank now owns 82,032 shares of the bank’s stock worth $2,977,000 after buying an additional 375 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Citizens Financial Group by 0.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 96,350 shares of the bank’s stock worth $3,497,000 after buying an additional 382 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in shares of Citizens Financial Group by 3.6% during the 1st quarter. Bleakley Financial Group LLC now owns 11,027 shares of the bank’s stock worth $400,000 after buying an additional 385 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of Citizens Financial Group by 1.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 21,343 shares of the bank’s stock worth $707,000 after buying an additional 393 shares during the last quarter. 94.90% of the stock is currently 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.