Citizens Financial Group, Inc. (NYSE:CFG) Receives $56.57 Consensus Target Price from Analysts

Shares of Citizens Financial Group, Inc. (NYSE:CFG) have received an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $56.5714.

Several equities research analysts have recently commented on CFG shares. Morgan Stanley raised Citizens Financial Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $53.00 to $71.00 in a research note on Monday, September 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Citizens Financial Group in a research report on Friday. Raymond James Financial set a $62.00 price objective on Citizens Financial Group and gave the stock a “strong-buy” rating in a report on Tuesday, October 7th. DA Davidson reaffirmed a “buy” rating and issued a $59.00 target price on shares of Citizens Financial Group in a research note on Thursday, October 16th. Finally, Barclays boosted their price target on shares of Citizens Financial Group from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 16th.

Institutional Investors Weigh In On Citizens Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC boosted its holdings in Citizens Financial Group by 891.5% during the third quarter. True Wealth Design LLC now owns 585 shares of the bank’s stock worth $31,000 after buying an additional 526 shares during the last quarter. Trust Co. of Vermont raised its position in shares of Citizens Financial Group by 177.5% in the 2nd quarter. Trust Co. of Vermont now owns 641 shares of the bank’s stock valued at $29,000 after acquiring an additional 410 shares during the period. Investors Research Corp boosted its stake in Citizens Financial Group by 344.8% during the 2nd quarter. Investors Research Corp now owns 645 shares of the bank’s stock worth $29,000 after acquiring an additional 500 shares during the last quarter. GoalVest Advisory LLC grew its holdings in Citizens Financial Group by 16,900.0% during the second quarter. GoalVest Advisory LLC now owns 680 shares of the bank’s stock valued at $30,000 after purchasing an additional 676 shares during the period. Finally, REAP Financial Group LLC increased its stake in Citizens Financial Group by 72.4% in the second quarter. REAP Financial Group LLC now owns 736 shares of the bank’s stock valued at $33,000 after purchasing an additional 309 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Trading Up 2.5%

CFG opened at $52.22 on Tuesday. Citizens Financial Group has a 1-year low of $32.60 and a 1-year high of $55.24. The stock has a market capitalization of $22.52 billion, a PE ratio of 14.63, a PEG ratio of 0.56 and a beta of 0.79. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $51.64 and a two-hundred day moving average price of $45.72.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, October 15th. The bank reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02. The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Citizens Financial Group had a net margin of 14.17% and a return on equity of 7.48%. Citizens Financial Group’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 earnings per share. As a group, equities analysts anticipate that Citizens Financial Group will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Wednesday, October 29th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Wednesday, October 29th. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.42. Citizens Financial Group’s dividend payout ratio is presently 47.06%.

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.