Citizens Financial Group (NYSE:CFG) Sets New 1-Year High – Here’s What Happened

Citizens Financial Group, Inc. (NYSE:CFG)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $66.18 and last traded at $65.6480, with a volume of 181186 shares. The stock had previously closed at $64.86.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CFG shares. DA Davidson raised their price target on shares of Citizens Financial Group from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Jefferies Financial Group reissued a “buy” rating and set a $80.00 target price on shares of Citizens Financial Group in a report on Wednesday, January 21st. Robert W. Baird restated a “neutral” rating and set a $60.00 target price on shares of Citizens Financial Group in a research report on Thursday, December 11th. New Street Research set a $73.00 price target on Citizens Financial Group in a research report on Thursday, January 22nd. Finally, Stephens reissued an “overweight” rating and issued a $60.00 price objective on shares of Citizens Financial Group in a report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Citizens Financial Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.55.

Citizens Financial Group Price Performance

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 company has a market capitalization of $28.16 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 0.51 and a beta of 0.72. The stock’s 50-day simple moving average is $59.29 and its two-hundred day simple moving average is $53.79.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, January 21st. The bank reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.02. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.89%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 earnings per share. Equities research analysts predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th will be given a dividend of $0.46 per share. 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 presently 47.55%.

Institutional Investors Weigh In On Citizens Financial Group

A number of large investors have recently modified their holdings of CFG. NewEdge Advisors LLC boosted its position in Citizens Financial Group by 2.4% during the first quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock worth $472,000 after acquiring an additional 274 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Citizens Financial Group by 6.7% during the 1st quarter. Empowered Funds LLC now owns 8,838 shares of the bank’s stock worth $362,000 after purchasing an additional 554 shares during the last quarter. Woodline Partners LP grew its position in shares of Citizens Financial Group by 39.5% in the first quarter. Woodline Partners LP now owns 36,932 shares of the bank’s stock valued at $1,513,000 after purchasing an additional 10,466 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Citizens Financial Group by 93.4% in the second quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank’s stock valued at $439,000 after purchasing an additional 4,739 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Citizens Financial Group by 1.5% during the second quarter. Janney Montgomery Scott LLC now owns 35,352 shares of the bank’s stock worth $1,582,000 after buying an additional 512 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Company Profile

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.