Citizens Financial Group’s (CFG) “Buy” Rating Reaffirmed at DA Davidson

DA Davidson restated their buy rating on shares of Citizens Financial Group (NYSE:CFG) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $59.00 price objective on the bank’s stock.

Other research analysts have also recently issued research reports about the company. Truist Financial increased their price objective on Citizens Financial Group from $52.00 to $58.00 and gave the stock a “hold” rating in a research report on Friday, October 3rd. Cantor Fitzgerald began coverage on shares of Citizens Financial Group in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $61.00 price target on the stock. JPMorgan Chase & Co. upgraded shares of Citizens Financial Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $48.50 to $52.00 in a research note on Friday, August 1st. Wall Street Zen raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Finally, Wells Fargo & Company set a $57.00 target price on shares of Citizens Financial Group in a report on Wednesday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $56.67.

Citizens Financial Group Stock Down 6.5%

Citizens Financial Group stock opened at $48.34 on Thursday. The company’s 50-day moving average price is $51.33 and its two-hundred day moving average price is $45.08. 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 stock has a market cap of $20.85 billion, a P/E ratio of 13.54, a P/E/G ratio of 0.57 and a beta of 0.79. Citizens Financial Group has a twelve month low of $32.60 and a twelve month high of $55.24.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, October 15th. The bank reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.10 billion. Citizens Financial Group had a return on equity of 7.48% and a net margin of 14.17%.The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.79 earnings per share. As a group, analysts expect that Citizens Financial Group will post 3.92 EPS for the current year.

Citizens Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Stockholders of record on Wednesday, October 29th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Wednesday, October 29th. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.42. Citizens Financial Group’s dividend payout ratio is presently 51.06%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Citizens Financial Group in the 2nd quarter valued at $253,423,000. AustralianSuper Pty Ltd bought a new stake in shares of Citizens Financial Group during the 1st quarter worth $108,864,000. HoldCo Asset Management LP acquired a new stake in Citizens Financial Group in the second quarter valued at about $93,361,000. Marshall Wace LLP bought a new position in Citizens Financial Group in the second quarter valued at about $67,492,000. Finally, Assetmark Inc. raised its stake in Citizens Financial Group by 11,167.0% during the first quarter. Assetmark Inc. now owns 1,347,537 shares of the bank’s stock worth $55,209,000 after acquiring an additional 1,335,577 shares in the last quarter. 94.90% of the stock is owned by institutional investors.

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.