Citizens Financial Group (NYSE:CFG) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Citizens Financial Group (NYSE:CFG) had its target price raised by The Goldman Sachs Group from $48.00 to $59.00 in a report published on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the bank’s stock.

A number of other brokerages have also commented on CFG. Royal Bank of Canada increased their price target on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Evercore ISI reduced their price objective on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods boosted their target price on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “market perform” rating in a research report on Monday, September 30th. Finally, DA Davidson increased their price target on shares of Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Citizens Financial Group has an average rating of “Hold” and an average price target of $45.47.

Citizens Financial Group Trading Up 0.1 %

Shares of CFG stock opened at $48.16 on Tuesday. The company has a market capitalization of $21.22 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. Citizens Financial Group has a 52-week low of $26.13 and a 52-week high of $49.25. The business’s fifty day moving average is $43.41 and its 200 day moving average is $40.13. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.79. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.94 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the company posted $0.85 EPS. On average, equities research analysts anticipate that Citizens Financial Group will post 3.2 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend was Wednesday, October 30th. Citizens Financial Group’s payout ratio is 66.14%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CFG. Wellington Management Group LLP lifted its holdings in shares of Citizens Financial Group by 207.2% during the third quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock valued at $339,733,000 after purchasing an additional 5,579,313 shares during the last quarter. AQR Capital Management LLC increased its holdings in Citizens Financial Group by 61.4% during the second quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock valued at $155,909,000 after buying an additional 1,682,886 shares during the last quarter. State Street Corp raised its position in Citizens Financial Group by 6.7% in the third quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock worth $1,060,689,000 after acquiring an additional 1,615,144 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Citizens Financial Group by 3,234.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,100,988 shares of the bank’s stock worth $39,669,000 after acquiring an additional 1,067,971 shares during the last quarter. Finally, Bank of Montreal Can grew its position in shares of Citizens Financial Group by 51.1% during the 3rd quarter. Bank of Montreal Can now owns 2,644,542 shares of the bank’s stock valued at $107,897,000 after acquiring an additional 894,322 shares during the period. Institutional investors own 94.90% of the company’s stock.

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.