Citigroup Issues Positive Forecast for Citizens Financial Group (NYSE:CFG) Stock Price

Citizens Financial Group (NYSE:CFG) had its price objective raised by Citigroup from $50.00 to $58.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has a buy rating on the bank’s stock.

CFG has been the topic of a number of other reports. Royal Bank of Canada lifted their price objective on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods boosted their target price on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “market perform” rating in a research note on Monday, September 30th. DA Davidson lifted their price target on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Morgan Stanley upped their price objective on Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Finally, Piper Sandler lifted their target price on Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.80.

Citizens Financial Group Price Performance

Shares of CFG opened at $47.65 on Thursday. The business’s fifty day moving average is $42.83 and its 200 day moving average is $39.84. Citizens Financial Group has a 12-month low of $26.13 and a 12-month high of $48.35. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61. The stock has a market cap of $21.00 billion, a P/E ratio of 18.76, a P/E/G ratio of 1.78 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.94 billion. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 earnings per share. Sell-side analysts anticipate that Citizens Financial Group will post 3.2 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend was Wednesday, October 30th. Citizens Financial Group’s payout ratio is 66.14%.

Institutional Trading of Citizens Financial Group

A number of hedge funds have recently made changes to their positions in CFG. Wellington Management Group LLP lifted its stake in Citizens Financial Group by 207.2% during the third quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock worth $339,733,000 after purchasing an additional 5,579,313 shares during the last quarter. AQR Capital Management LLC boosted its stake in Citizens Financial Group by 61.4% in the second quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock worth $155,909,000 after buying an additional 1,682,886 shares in the last quarter. State Street Corp grew its position in Citizens Financial Group by 6.7% during 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 during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Citizens Financial Group by 3,234.6% during the second quarter. Assenagon Asset Management S.A. now owns 1,100,988 shares of the bank’s stock worth $39,669,000 after acquiring an additional 1,067,971 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Citizens Financial Group by 51.1% in the 3rd quarter. Bank of Montreal Can now owns 2,644,542 shares of the bank’s stock worth $107,897,000 after acquiring an additional 894,322 shares during the last quarter. 94.90% of the stock is owned by institutional investors.

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.