Citizens Financial Group (NYSE:CFG) Sets New 1-Year High at $42.27

Citizens Financial Group, Inc. (NYSE:CFG) reached a new 52-week high on Tuesday . The company traded as high as $42.27 and last traded at $42.26, with a volume of 446002 shares trading hands. The stock had previously closed at $41.40.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Citizens Financial Group from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. cut their price objective on shares of Citizens Financial Group from $36.50 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Citigroup increased their price objective on shares of Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Royal Bank of Canada raised their target price on shares of Citizens Financial Group from $35.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Finally, Evercore ISI raised their target price on shares of Citizens Financial Group from $38.00 to $39.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $41.13.

Citizens Financial Group Stock Up 1.6 %

The company’s fifty day moving average is $36.00 and its 200-day moving average is $34.34. The company has a market capitalization of $19.14 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 1.42 and a beta of 1.10. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.87.

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

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be issued a dividend of $0.42 per share. The ex-dividend date is Wednesday, July 31st. This represents a $1.68 annualized dividend and a yield of 3.99%. Citizens Financial Group’s payout ratio is presently 60.87%.

Institutional Trading of Citizens Financial Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital International Investors increased its stake in Citizens Financial Group by 4.4% in the first quarter. Capital International Investors now owns 36,709,412 shares of the bank’s stock worth $1,332,185,000 after purchasing an additional 1,552,333 shares during the period. LSV Asset Management increased its stake in Citizens Financial Group by 1.5% in the fourth quarter. LSV Asset Management now owns 6,504,591 shares of the bank’s stock worth $215,562,000 after purchasing an additional 95,292 shares during the period. Nordea Investment Management AB increased its stake in Citizens Financial Group by 15.3% in the first quarter. Nordea Investment Management AB now owns 3,625,128 shares of the bank’s stock worth $130,722,000 after purchasing an additional 480,129 shares during the period. Norges Bank purchased a new stake in Citizens Financial Group in the fourth quarter worth $117,372,000. Finally, Hsbc Holdings PLC increased its stake in shares of Citizens Financial Group by 96.3% during the fourth quarter. Hsbc Holdings PLC now owns 2,472,122 shares of the bank’s stock valued at $81,932,000 after buying an additional 1,212,642 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

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.