Piper Sandler Issues Positive Forecast for Citizens Financial Group (NYSE:CFG) Stock Price

Citizens Financial Group (NYSE:CFG) had its price objective raised by Piper Sandler from $48.00 to $53.00 in a report published on Tuesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the bank’s stock.

Several other research firms have also commented on CFG. Evercore ISI decreased their target price on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a report on Wednesday, October 2nd. Barclays upped their price objective on Citizens Financial Group from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. DA Davidson upped their price target on shares of Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group raised their price objective on shares of Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $46.27.

Citizens Financial Group Stock Performance

Shares of NYSE CFG opened at $46.77 on Tuesday. Citizens Financial Group has a one year low of $28.72 and a one year high of $49.25. The firm has a market cap of $20.61 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 1.78 and a beta of 1.08. The stock’s fifty day moving average price is $44.03 and its two-hundred day moving average price is $40.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.79. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 EPS. On average, equities analysts forecast that Citizens Financial Group will post 3.2 EPS for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were issued a $0.42 dividend. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.59%. Citizens Financial Group’s payout ratio is currently 66.14%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Costello Asset Management INC acquired a new position in shares of Citizens Financial Group during the third quarter valued at about $25,000. Ashton Thomas Securities LLC acquired a new position in shares of Citizens Financial Group during the third quarter worth approximately $27,000. Catalyst Capital Advisors LLC bought a new position in shares of Citizens Financial Group in the 3rd quarter worth $28,000. Innealta Capital LLC acquired a new stake in Citizens Financial Group in the 2nd quarter valued at $25,000. Finally, Private Ocean LLC increased its stake in Citizens Financial Group by 484.4% during the 2nd quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock valued at $36,000 after purchasing an additional 838 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Company Profile

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.