Citizens Financial Group (NYSE:CFG) PT Lowered to $36.00

Citizens Financial Group (NYSE:CFG) had its price target reduced by JPMorgan Chase & Co. from $36.50 to $36.00 in a research note released on Wednesday, Benzinga reports. They currently have a neutral rating on the bank’s stock.

Several other equities research analysts have also commented on CFG. UBS Group upped their price target on shares of Citizens Financial Group from $37.00 to $38.00 and gave the company a buy rating in a report on Thursday, January 18th. Keefe, Bruyette & Woods raised their target price on Citizens Financial Group from $35.00 to $39.00 and gave the stock a market perform rating in a report on Friday, April 5th. Wedbush decreased their price target on Citizens Financial Group from $38.00 to $35.00 and set a neutral rating for the company in a report on Thursday, April 18th. Jefferies Financial Group raised their price objective on shares of Citizens Financial Group from $35.00 to $36.00 and gave the stock a hold rating in a research note on Monday, April 8th. Finally, Piper Sandler upgraded shares of Citizens Financial Group from a neutral rating to an overweight rating and boosted their target price for the company from $35.00 to $41.00 in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $37.73.

Citizens Financial Group Trading Up 1.1 %

Shares of NYSE:CFG opened at $35.39 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. Citizens Financial Group has a 52-week low of $22.77 and a 52-week high of $36.38. The stock has a market cap of $16.22 billion, a price-to-earnings ratio of 12.82 and a beta of 1.36. The business has a 50-day moving average price of $33.95 and a 200-day moving average price of $31.18.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The business’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.00 earnings per share. Equities analysts predict that Citizens Financial Group will post 3.24 EPS for the current year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.75%. Citizens Financial Group’s payout ratio is currently 60.87%.

Insider Transactions at Citizens Financial Group

In other news, insider Craig Jack Read sold 6,327 shares of the firm’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $33.70, for a total value of $213,219.90. Following the transaction, the insider now directly owns 37,558 shares of the company’s stock, valued at $1,265,704.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Citizens Financial Group

Several hedge funds and other institutional investors have recently made changes to their positions in CFG. Asset Management One Co. Ltd. increased its stake in shares of Citizens Financial Group by 3.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 207,507 shares of the bank’s stock worth $5,561,000 after acquiring an additional 7,838 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Citizens Financial Group by 3.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 129,930 shares of the bank’s stock worth $3,482,000 after purchasing an additional 3,844 shares during the period. Kingswood Wealth Advisors LLC acquired a new position in Citizens Financial Group in the 3rd quarter valued at about $318,000. Xponance Inc. grew its stake in shares of Citizens Financial Group by 1.1% in the 3rd quarter. Xponance Inc. now owns 66,396 shares of the bank’s stock valued at $1,779,000 after buying an additional 735 shares during the period. Finally, Raymond James & Associates grew its stake in shares of Citizens Financial Group by 3.5% in the 3rd quarter. Raymond James & Associates now owns 315,504 shares of the bank’s stock valued at $8,456,000 after buying an additional 10,579 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

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.