Citizens Financial Group (NYSE:CFG) Given New $76.00 Price Target at JPMorgan Chase & Co.

Citizens Financial Group (NYSE:CFG) had its price objective increased by JPMorgan Chase & Co. from $68.50 to $76.00 in a research report sent to investors on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the bank’s stock.

A number of other analysts also recently issued reports on CFG. Evercore restated an “outperform” rating and set a $75.00 price target on shares of Citizens Financial Group in a report on Tuesday, April 21st. Keefe, Bruyette & Woods upped their price objective on Citizens Financial Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Royal Bank Of Canada raised their target price on Citizens Financial Group from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. DA Davidson lifted their target price on Citizens Financial Group from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Citizens Financial Group in a research note on Tuesday, June 9th. Sixteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.35.

Citizens Financial Group Trading Up 0.2%

Shares of CFG stock traded up $0.17 on Monday, hitting $72.28. 139,296 shares of the stock traded hands, compared to its average volume of 4,901,662. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.84 and a current ratio of 0.85. Citizens Financial Group has a twelve month low of $45.90 and a twelve month high of $72.94. The firm’s 50-day moving average price is $65.26 and its two-hundred day moving average price is $62.88. The stock has a market capitalization of $30.56 billion, a PE ratio of 17.11, a PEG ratio of 0.56 and a beta of 0.67.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.03. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the business earned $0.77 earnings per share. Citizens Financial Group’s revenue was up 12.0% compared to the same quarter last year. As a group, analysts anticipate that Citizens Financial Group will post 5.2 EPS for the current year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.5%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 43.50%.

Insider Buying and Selling at Citizens Financial Group

In related news, insider Michelle Moosally sold 6,050 shares of Citizens Financial Group stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total value of $376,068.00. Following the completion of the sale, the insider owned 22,565 shares in the company, valued at approximately $1,402,640.40. This trade represents a 21.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CFG. Versant Capital Management Inc raised its holdings in shares of Citizens Financial Group by 20.6% in the 2nd quarter. Versant Capital Management Inc now owns 8,651 shares of the bank’s stock valued at $606,000 after buying an additional 1,477 shares during the period. Sapient Capital LLC boosted its holdings in Citizens Financial Group by 6.0% during the 1st quarter. Sapient Capital LLC now owns 4,991 shares of the bank’s stock valued at $299,000 after acquiring an additional 284 shares during the period. PVG Asset Management Corp acquired a new position in Citizens Financial Group in the 1st quarter valued at about $1,034,000. Parallel Advisors LLC lifted its position in shares of Citizens Financial Group by 10.3% during the first quarter. Parallel Advisors LLC now owns 6,707 shares of the bank’s stock worth $402,000 after purchasing an additional 629 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Citizens Financial Group by 67.3% in the first quarter. NewEdge Advisors LLC now owns 112,088 shares of the bank’s stock valued at $6,722,000 after purchasing an additional 45,071 shares during the period. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

About Citizens Financial Group

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.