Citizens Financial Group (NYSE:CFG) Given New $36.00 Price Target at JPMorgan Chase & Co.

Citizens Financial Group (NYSE:CFG) had its target price cut by JPMorgan Chase & Co. from $36.50 to $36.00 in a report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the bank’s stock.

A number of other equities research analysts have also recently commented on the stock. Barclays cut shares of Citizens Financial Group from an overweight rating to an equal weight rating and lifted their price target for the stock from $38.00 to $40.00 in a report on Tuesday, January 2nd. Royal Bank of Canada increased their price target on Citizens Financial Group from $33.00 to $35.00 and gave the stock an outperform rating in a research note on Thursday, January 18th. Morgan Stanley lifted their price objective on Citizens Financial Group from $31.00 to $39.00 and gave the stock an equal weight rating in a report on Wednesday, February 7th. Piper Sandler raised shares of Citizens Financial Group from a neutral rating to an overweight rating and upped their price objective for the company from $35.00 to $41.00 in a report on Friday, April 26th. Finally, UBS Group lifted their target price on shares of Citizens Financial Group from $37.00 to $38.00 and gave the stock a buy rating in a research note on Thursday, January 18th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Citizens Financial Group has a consensus rating of Hold and a consensus price target of $37.73.

Citizens Financial Group Trading Up 1.1 %

NYSE:CFG opened at $35.39 on Wednesday. Citizens Financial Group has a 52 week low of $22.77 and a 52 week high of $36.38. The firm has a 50-day moving average price of $34.04 and a two-hundred day moving average price of $31.24. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market cap of $16.22 billion, a price-to-earnings ratio of 12.82 and a beta of 1.36.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the firm posted $1.00 earnings per share. Citizens Financial Group’s quarterly revenue was down 7.9% compared to the same quarter last year. On average, equities analysts expect that Citizens Financial Group will post 3.24 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.75%. The ex-dividend date is Tuesday, April 30th. Citizens Financial Group’s payout ratio is 60.87%.

Insider Transactions at Citizens Financial Group

In related news, insider Craig Jack Read sold 6,327 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $33.70, for a total value of $213,219.90. Following the sale, the insider now directly owns 37,558 shares of the company’s stock, valued at $1,265,704.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. WBI Investments LLC boosted its holdings in shares of Citizens Financial Group by 4.9% in the 1st quarter. WBI Investments LLC now owns 17,934 shares of the bank’s stock worth $651,000 after purchasing an additional 834 shares in the last quarter. Csenge Advisory Group lifted its position in Citizens Financial Group by 8.0% in the 1st quarter. Csenge Advisory Group now owns 20,423 shares of the bank’s stock worth $741,000 after buying an additional 1,506 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Citizens Financial Group by 686.7% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,014 shares of the bank’s stock worth $73,000 after buying an additional 1,758 shares in the last quarter. Salomon & Ludwin LLC bought a new position in Citizens Financial Group during the first quarter valued at approximately $78,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of Citizens Financial Group by 9.1% during the first quarter. Daiwa Securities Group Inc. now owns 46,309 shares of the bank’s stock worth $1,681,000 after acquiring an additional 3,852 shares in the last quarter. 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.