Citizens Financial Group, Inc. (NYSE:CFG) Receives $69.95 Average PT from Analysts

Shares of Citizens Financial Group, Inc. (NYSE:CFG) have been assigned an average recommendation of “Moderate Buy” from the twenty-one research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and twenty have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $69.5909.

A number of research firms have recently weighed in on CFG. The Goldman Sachs Group reissued a “buy” rating and issued a $73.00 price objective on shares of Citizens Financial Group in a research report on Tuesday, January 6th. Weiss Ratings upgraded Citizens Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Barclays set a $77.00 price target on Citizens Financial Group and gave the stock an “overweight” rating in a report on Monday, January 5th. Evercore upped their price objective on shares of Citizens Financial Group from $69.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Finally, Truist Financial decreased their price objective on shares of Citizens Financial Group from $71.00 to $63.00 and set a “hold” rating for the company in a research report on Monday.

Citizens Financial Group Trading Down 1.5%

NYSE:CFG opened at $58.54 on Friday. The stock has a market capitalization of $24.88 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 0.48 and a beta of 0.70. 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 0.46. The firm has a 50 day moving average of $61.86 and a 200 day moving average of $56.96.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.02. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.81%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 earnings per share. As a group, sell-side analysts anticipate that Citizens Financial Group will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Wednesday, February 4th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.1%. Citizens Financial Group’s payout ratio is 47.55%.

Insider Activity

In related news, insider Susan Lamonica sold 13,258 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $58.04, for a total value of $769,494.32. Following the completion of the transaction, the insider owned 165,971 shares in the company, valued at $9,632,956.84. This trade represents a 7.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.67% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CFG. NewEdge Advisors LLC boosted its position in Citizens Financial Group by 2.4% in the first quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank’s stock valued at $472,000 after buying an additional 274 shares during the last quarter. Empowered Funds LLC lifted its stake in Citizens Financial Group by 6.7% during the 1st quarter. Empowered Funds LLC now owns 8,838 shares of the bank’s stock valued at $362,000 after acquiring an additional 554 shares during the period. Woodline Partners LP boosted its holdings in shares of Citizens Financial Group by 39.5% in the 1st quarter. Woodline Partners LP now owns 36,932 shares of the bank’s stock valued at $1,513,000 after acquiring an additional 10,466 shares during the last quarter. Sivia Capital Partners LLC increased its stake 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 worth $439,000 after acquiring an additional 4,739 shares during the period. Finally, Rockefeller Capital Management L.P. increased its stake in shares of Citizens Financial Group by 4.1% in the second quarter. Rockefeller Capital Management L.P. now owns 80,460 shares of the bank’s stock worth $3,601,000 after acquiring an additional 3,199 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.