JPMorgan Chase & Co. Cuts Citizens Financial Group (NYSE:CFG) Price Target to $43.00

Citizens Financial Group (NYSE:CFG) had its price objective reduced by JPMorgan Chase & Co. from $49.00 to $43.00 in a report published on Thursday,Benzinga reports. They currently have a neutral rating on the bank’s stock.

CFG has been the topic of several other research reports. Stephens reaffirmed an “overweight” rating and set a $53.00 price objective on shares of Citizens Financial Group in a report on Wednesday, January 29th. Morgan Stanley cut their price target on Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Citigroup dropped their price objective on Citizens Financial Group from $58.00 to $51.00 and set a “buy” rating for the company in a report on Monday, March 24th. Truist Financial reduced their target price on Citizens Financial Group from $54.00 to $51.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Finally, Compass Point boosted their target price on 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 issued a strong buy rating to the stock. According to MarketBeat, Citizens Financial Group has a consensus rating of “Moderate Buy” and a consensus price target of $49.06.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $34.28 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $14.98 billion, a P/E ratio of 11.31, a P/E/G ratio of 0.81 and a beta of 0.81. The business has a 50-day moving average of $43.78 and a two-hundred day moving average of $44.08. Citizens Financial Group has a fifty-two week low of $32.06 and a fifty-two week high of $49.25.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Friday, January 17th. The bank reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the company earned $0.85 EPS. The business’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities research analysts predict that Citizens Financial Group will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend was Friday, January 31st. Citizens Financial Group’s dividend payout ratio (DPR) is currently 55.45%.

Institutional Trading of Citizens Financial Group

Institutional investors have recently made changes to their positions in the business. Ameriflex Group Inc. bought a new stake in Citizens Financial Group in the 4th quarter valued at $26,000. Ameliora Wealth Management Ltd. purchased a new stake in shares of Citizens Financial Group in the fourth quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Citizens Financial Group in the fourth quarter worth about $28,000. Colonial Trust Co SC boosted its stake in Citizens Financial Group by 673.0% during the fourth quarter. Colonial Trust Co SC now owns 889 shares of the bank’s stock valued at $39,000 after buying an additional 774 shares during the last quarter. Finally, Sierra Ocean LLC bought a new stake in Citizens Financial Group in the 4th quarter worth approximately $47,000. 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.