Citizens Financial Group (NYSE:CFG) Price Target Raised to $71.00

Citizens Financial Group (NYSE:CFG) had its price objective increased by JPMorgan Chase & Co. from $62.50 to $71.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the bank’s stock.

A number of other brokerages have also recently commented on CFG. Weiss Ratings cut Citizens Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, February 3rd. Argus lifted their target price on Citizens Financial Group from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Citigroup upped their target price on Citizens Financial Group from $65.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Keefe, Bruyette & Woods raised their price target on shares of Citizens Financial Group from $68.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. Finally, Robert W. Baird restated a “neutral” rating and set a $60.00 price objective on shares of Citizens Financial Group in a research note on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Citizens Financial Group presently has an average rating of “Moderate Buy” and an average price target of $68.77.

Citizens Financial Group Stock Down 1.1%

CFG stock opened at $66.81 on Monday. The stock has a market capitalization of $28.69 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 0.55 and a beta of 0.72. Citizens Financial Group has a 52 week low of $32.60 and a 52 week high of $68.79. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $61.05 and a 200 day moving average of $54.64.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.02. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.89%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the business posted $0.85 EPS. Citizens Financial Group’s revenue for the quarter was up 8.6% compared to the same quarter last year. Sell-side analysts forecast that Citizens Financial Group will post 3.92 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, February 4th. Citizens Financial Group’s payout ratio is currently 47.55%.

Institutional Trading of Citizens Financial Group

Several institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC raised its stake in shares of Citizens Financial Group by 2.9% during the 4th quarter. Parallel Advisors LLC now owns 6,078 shares of the bank’s stock worth $355,000 after buying an additional 172 shares during the period. AA Financial Advisors LLC increased its holdings in Citizens Financial Group by 3.9% in the 4th quarter. AA Financial Advisors LLC now owns 4,657 shares of the bank’s stock worth $272,000 after acquiring an additional 174 shares in the last quarter. Inscription Capital LLC raised its position in Citizens Financial Group by 1.6% during the fourth quarter. Inscription Capital LLC now owns 10,902 shares of the bank’s stock worth $637,000 after acquiring an additional 175 shares during the period. Clear Harbor Asset Management LLC lifted its holdings in Citizens Financial Group by 0.9% during the fourth quarter. Clear Harbor Asset Management LLC now owns 19,694 shares of the bank’s stock valued at $1,150,000 after purchasing an additional 175 shares in the last quarter. Finally, Grove Bank & Trust grew its position in shares of Citizens Financial Group by 19.8% in the fourth quarter. Grove Bank & Trust now owns 1,107 shares of the bank’s stock valued at $65,000 after purchasing an additional 183 shares during the period. 94.90% of the stock is owned by institutional investors and hedge funds.

About Citizens Financial Group

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.