Citizens Financial Group (NYSE:CFG) Reaches New 12-Month High – What’s Next?

Citizens Financial Group, Inc. (NYSE:CFGGet Free Report)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $43.98 and last traded at $43.72, with a volume of 806785 shares traded. The stock had previously closed at $43.27.

Wall Street Analysts Forecast Growth

CFG has been the topic of a number of recent research reports. DA Davidson upped their target price on shares of Citizens Financial Group from $41.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, July 18th. The Goldman Sachs Group lifted their target price on shares of Citizens Financial Group from $43.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Raymond James assumed coverage on Citizens Financial Group in a research note on Thursday, July 11th. They set a “market perform” rating on the stock. Morgan Stanley raised their price objective on Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Finally, Stephens upped their target price on Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $43.07.

View Our Latest Stock Report on Citizens Financial Group

Citizens Financial Group Stock Up 0.4 %

The firm’s 50-day moving average price is $41.05 and its 200-day moving average price is $37.89. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market cap of $19.78 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 1.42 and a beta of 1.07.

Citizens Financial Group (NYSE:CFGGet Free Report) last announced its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.01). Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the prior year, the company posted $0.92 earnings per share. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. Sell-side analysts forecast that Citizens Financial Group, Inc. will post 3.22 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend was Wednesday, July 31st. Citizens Financial Group’s dividend payout ratio (DPR) is 60.87%.

Insider Activity

In other news, insider Craig Jack Read sold 3,938 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total value of $170,357.88. Following the completion of the transaction, the insider now directly owns 33,620 shares in the company, valued at approximately $1,454,401.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Innealta Capital LLC purchased a new stake in Citizens Financial Group during the 2nd quarter worth approximately $25,000. Versant Capital Management Inc increased its stake in shares of Citizens Financial Group by 262.8% in the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock worth $34,000 after buying an additional 678 shares during the last quarter. Private Ocean LLC raised its holdings in Citizens Financial Group by 484.4% in the second quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock valued at $36,000 after acquiring an additional 838 shares in the last quarter. Quarry LP grew its holdings in Citizens Financial Group by 183.1% during the 4th quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after acquiring an additional 714 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new stake in shares of Citizens Financial Group in the 2nd quarter worth about $48,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Company Profile

(Get Free Report)

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.

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