Barclays Forecasts Strong Price Appreciation for Citizens Financial Group (NYSE:CFG) Stock

Citizens Financial Group (NYSE:CFG) had its target price lifted by Barclays from $47.00 to $52.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the bank’s stock.

Several other equities research analysts also recently issued reports on CFG. Keefe, Bruyette & Woods boosted their price objective on shares of Citizens Financial Group from $46.00 to $53.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Evercore ISI lowered their price target on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a report on Wednesday, October 2nd. Piper Sandler upped their target price on Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Raymond James upgraded Citizens Financial Group from a “market perform” rating to a “strong-buy” rating and set a $55.00 target price on the stock in a report on Wednesday, December 18th. Finally, The Goldman Sachs Group upped their price target on Citizens Financial Group from $48.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Citizens Financial Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.71.

Citizens Financial Group Stock Up 0.6 %

Shares of NYSE CFG opened at $44.82 on Monday. The stock has a market capitalization of $19.75 billion, a PE ratio of 17.65, a P/E/G ratio of 1.76 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61. The firm has a fifty day moving average of $45.32 and a 200-day moving average of $42.08. Citizens Financial Group has a 52-week low of $30.24 and a 52-week high of $49.25.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The firm’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 earnings per share. On average, analysts anticipate 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 dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.75%. Citizens Financial Group’s dividend payout ratio (DPR) is 66.14%.

Institutional Investors Weigh In On Citizens Financial Group

A number of institutional investors have recently modified their holdings of CFG. TD Asset Management Inc lifted its stake in Citizens Financial Group by 0.9% in the second quarter. TD Asset Management Inc now owns 169,726 shares of the bank’s stock valued at $6,115,000 after buying an additional 1,495 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Citizens Financial Group by 0.4% in the second quarter. Victory Capital Management Inc. now owns 540,823 shares of the bank’s stock worth $19,486,000 after purchasing an additional 2,332 shares during the period. Savant Capital LLC raised its position in shares of Citizens Financial Group by 123.9% during the 2nd quarter. Savant Capital LLC now owns 77,248 shares of the bank’s stock worth $2,783,000 after buying an additional 42,744 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of Citizens Financial Group by 12.7% during the second quarter. Cullen Frost Bankers Inc. now owns 2,344 shares of the bank’s stock valued at $84,000 after acquiring an additional 264 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of Citizens Financial Group during the 2nd quarter valued at $3,856,000. Institutional investors 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.