Citizens Financial Group (NYSE:CFG) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Citizens Financial Group (NYSE:CFG) had its price objective boosted by Keefe, Bruyette & Woods from $53.00 to $56.00 in a research note released on Tuesday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

A number of other research analysts also recently issued reports on CFG. Evercore ISI reduced their price objective on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 2nd. Royal Bank of Canada lifted their price objective on Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. The Goldman Sachs Group raised their target price on Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Truist Financial initiated coverage on Citizens Financial Group in a research report on Tuesday, January 7th. They set a “hold” rating and a $49.00 price target on the stock. Finally, Compass Point upped their target price on shares of Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Citizens Financial Group currently has an average rating of “Moderate Buy” and an average target price of $49.00.

Citizens Financial Group Stock Up 0.7 %

Shares of Citizens Financial Group stock opened at $47.36 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. Citizens Financial Group has a 52-week low of $30.24 and a 52-week high of $49.25. The company’s 50 day moving average price is $45.71 and its 200-day moving average price is $42.91. The stock has a market capitalization of $20.87 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 0.84 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1,962,330 billion. During the same quarter in the previous year, the business earned $0.85 EPS. Citizens Financial Group’s revenue was down .1% compared to the same quarter last year. Equities research analysts forecast that Citizens Financial Group will post 3.95 EPS for the current year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.55%. Citizens Financial Group’s payout ratio is currently 55.45%.

Institutional Investors Weigh In On Citizens Financial Group

A number of institutional investors have recently bought and sold shares of the business. State Street Corp lifted its position in shares of Citizens Financial Group by 6.7% in the third quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock valued at $1,060,689,000 after acquiring an additional 1,615,144 shares in the last quarter. Wellington Management Group LLP raised its stake in Citizens Financial Group by 207.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock valued at $339,733,000 after purchasing an additional 5,579,313 shares during the period. Nordea Investment Management AB lifted its holdings in Citizens Financial Group by 19.3% in the 4th quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank’s stock worth $217,781,000 after purchasing an additional 805,758 shares in the last quarter. AQR Capital Management LLC grew its holdings in Citizens Financial Group by 61.4% during the 2nd quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock valued at $155,909,000 after buying an additional 1,682,886 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Citizens Financial Group by 11.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,144,635 shares of the bank’s stock valued at $129,150,000 after buying an additional 334,386 shares during the last quarter. Hedge funds and other institutional investors 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.