Keefe, Bruyette & Woods Lowers Citizens Financial Group (NYSE:CFG) Price Target to $45.00

Citizens Financial Group (NYSE:CFG) had its price target decreased by Keefe, Bruyette & Woods from $49.00 to $45.00 in a research note released on Thursday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

Several other analysts have also recently commented on CFG. Truist Financial lowered their price target on Citizens Financial Group from $54.00 to $51.00 and set a “hold” rating for the company in a report on Friday, March 21st. Raymond James reiterated a “strong-buy” rating and issued a $58.00 price target (up previously from $55.00) on shares of Citizens Financial Group in a report on Tuesday, January 21st. Barclays boosted their price objective on shares of Citizens Financial Group from $47.00 to $52.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Stephens reiterated an “overweight” rating and issued a $53.00 target price on shares of Citizens Financial Group in a report on Wednesday, January 29th. Finally, Morgan Stanley dropped their price target on Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $45.82.

Citizens Financial Group Stock Down 0.1 %

CFG opened at $35.43 on Thursday. The firm has a market cap of $15.49 billion, a P/E ratio of 11.69, a PEG ratio of 0.81 and a beta of 0.81. The business’s fifty day simple moving average is $40.88 and its 200 day simple moving average is $43.61. Citizens Financial Group has a 52 week low of $32.60 and a 52 week high of $49.25. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, April 16th. The bank reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. As a group, equities research analysts anticipate that Citizens Financial Group will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend is Wednesday, April 30th. Citizens Financial Group’s dividend payout ratio is currently 53.33%.

Hedge Funds Weigh In On Citizens Financial Group

Large investors have recently added to or reduced their stakes in the company. Capital World Investors lifted its position in shares of Citizens Financial Group by 3.3% in the 4th quarter. Capital World Investors now owns 35,900,115 shares of the bank’s stock worth $1,570,989,000 after buying an additional 1,131,838 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Citizens Financial Group by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 10,929,591 shares of the bank’s stock valued at $477,043,000 after purchasing an additional 124,860 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Citizens Financial Group by 27.8% during the 4th quarter. Wellington Management Group LLP now owns 10,570,083 shares of the bank’s stock worth $462,547,000 after purchasing an additional 2,298,040 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in Citizens Financial Group by 20.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 9,683,111 shares of the bank’s stock valued at $423,733,000 after purchasing an additional 1,672,204 shares during the period. Finally, Royal Bank of Canada increased its position in Citizens Financial Group by 6.4% in the fourth quarter. Royal Bank of Canada now owns 6,247,238 shares of the bank’s stock worth $273,378,000 after buying an additional 374,850 shares during the period. 94.90% of the stock is currently owned by institutional investors.

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.