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

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

A number of other equities research analysts have also recently commented on the stock. Keefe, Bruyette & Woods raised their target price on shares of Citizens Financial Group from $53.00 to $56.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 21st. Morgan Stanley dropped their target price on shares of Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Raymond James reissued a “strong-buy” rating and set a $58.00 price target (up from $55.00) on shares of Citizens Financial Group in a report on Tuesday, January 21st. Truist Financial lowered their price target on Citizens Financial Group from $54.00 to $51.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Finally, Piper Sandler lifted their price objective on shares of Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Citizens Financial Group has a consensus rating of “Moderate Buy” and an average price target of $48.67.

Citizens Financial Group Trading Down 0.7 %

NYSE:CFG opened at $41.98 on Monday. Citizens Financial Group has a 12 month low of $32.06 and a 12 month high of $49.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $44.91 and a 200-day moving average price of $44.13. The stock has a market cap of $18.35 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 0.81 and a beta of 1.06.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The company’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 EPS. Equities analysts predict that Citizens Financial Group will post 3.92 EPS for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date was Friday, January 31st. Citizens Financial Group’s payout ratio is presently 55.45%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CFG. Empowered Funds LLC grew its holdings in Citizens Financial Group by 8.4% in the third quarter. Empowered Funds LLC now owns 7,487 shares of the bank’s stock valued at $307,000 after purchasing an additional 579 shares during the period. Prospera Financial Services Inc purchased a new stake in Citizens Financial Group in the 3rd quarter worth $227,000. Commerce Bank raised its position in Citizens Financial Group by 1.9% during the third quarter. Commerce Bank now owns 13,177 shares of the bank’s stock worth $541,000 after acquiring an additional 250 shares during the period. Moors & Cabot Inc. purchased a new position in Citizens Financial Group during the third quarter valued at $213,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Citizens Financial Group by 97.8% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 158,222 shares of the bank’s stock valued at $6,498,000 after purchasing an additional 78,245 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 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.