Citigroup Cuts Citizens Financial Group (NYSE:CFG) Price Target to $51.00

Citizens Financial Group (NYSE:CFG) had its price objective cut by Citigroup from $58.00 to $51.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the bank’s stock.

CFG has been the topic of a number of other research reports. Truist Financial lowered their price objective on Citizens Financial Group from $54.00 to $51.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. Compass Point raised their target price on shares of Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods upped their price target on shares of Citizens Financial Group from $53.00 to $56.00 and gave the stock a “market perform” rating in a report on Tuesday, January 21st. Stephens reiterated an “overweight” rating and set a $53.00 price target on shares of Citizens Financial Group in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group boosted their price objective on shares of Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.67.

Citizens Financial Group Stock Down 0.7 %

CFG opened at $41.98 on Monday. The stock has a fifty day moving average of $44.91 and a 200-day moving average of $44.13. The company has a market capitalization of $18.35 billion, a P/E ratio of 13.86, a P/E/G ratio of 0.81 and a beta of 1.06. Citizens Financial Group has a fifty-two week low of $32.06 and a fifty-two week high of $49.25. 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 (NYSE:CFG) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, topping 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 business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the company earned $0.85 EPS. The business’s revenue was down .1% on a year-over-year basis. On average, equities analysts expect that Citizens Financial Group will post 3.92 EPS for the current 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 4.00%. The ex-dividend date was Friday, January 31st. Citizens Financial Group’s dividend payout ratio (DPR) is presently 55.45%.

Hedge Funds Weigh In On Citizens Financial Group

Hedge funds have recently bought and sold shares of the company. Ameriflex Group Inc. purchased a new position in Citizens Financial Group during the fourth quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Citizens Financial Group in the fourth quarter valued at approximately $28,000. Ameliora Wealth Management Ltd. bought a new position in shares of Citizens Financial Group during the 4th quarter valued at about $28,000. Colonial Trust Co SC boosted its stake in shares of Citizens Financial Group by 673.0% in the 4th quarter. Colonial Trust Co SC now owns 889 shares of the bank’s stock valued at $39,000 after purchasing an additional 774 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new stake in Citizens Financial Group during the fourth quarter valued at about $47,000. 94.90% of the stock is owned by hedge funds and other 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.