Citizens Financial Group, Inc. (NYSE:CFG – Get Free Report) has been given an average rating of “Moderate Buy” by the twenty analysts that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $79.05.
Several equities analysts have issued reports on CFG shares. Evercore reaffirmed an “outperform” rating and set a $80.00 price objective on shares of Citizens Financial Group in a report on Monday, July 6th. Stephens boosted their target price on Citizens Financial Group from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. Truist Financial upped their target price on Citizens Financial Group from $72.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. UBS Group raised their price target on Citizens Financial Group from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Finally, Robert W. Baird lifted their price target on Citizens Financial Group from $72.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, July 17th.
View Our Latest Report on Citizens Financial Group
Citizens Financial Group Trading Down 2.1%
Citizens Financial Group (NYSE:CFG – Get Free Report) last announced its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%. The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the previous year, the company earned $0.92 earnings per share. Citizens Financial Group’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, sell-side analysts expect that Citizens Financial Group will post 5.3 earnings per share for the current fiscal year.
Citizens Financial Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, July 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.6%. Citizens Financial Group’s dividend payout ratio (DPR) is 39.91%.
Insiders Place Their Bets
In other news, CEO Saun Bruce Van sold 129,369 shares of Citizens Financial Group stock in a transaction on Friday, July 24th. The shares were sold at an average price of $72.07, for a total value of $9,323,623.83. Following the transaction, the chief executive officer directly owned 1,140,763 shares of the company’s stock, valued at $82,214,789.41. The trade was a 10.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michelle Moosally sold 6,050 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total transaction of $376,068.00. Following the completion of the sale, the insider owned 22,565 shares of the company’s stock, valued at approximately $1,402,640.40. This trade represents a 21.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.67% of the company’s stock.
Institutional Investors Weigh In On Citizens Financial Group
Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in Citizens Financial Group by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 11,361,142 shares of the bank’s stock valued at $661,052,000 after acquiring an additional 32,264 shares during the period. Morgan Stanley raised its stake in Citizens Financial Group by 2.7% during the 4th quarter. Morgan Stanley now owns 11,217,975 shares of the bank’s stock valued at $655,242,000 after acquiring an additional 298,779 shares during the last quarter. Capital International Investors lifted its position in Citizens Financial Group by 32.3% during the 4th quarter. Capital International Investors now owns 8,000,750 shares of the bank’s stock worth $467,389,000 after acquiring an additional 1,953,372 shares during the period. AQR Capital Management LLC lifted its position in Citizens Financial Group by 56.9% during the 4th quarter. AQR Capital Management LLC now owns 7,722,559 shares of the bank’s stock worth $451,075,000 after acquiring an additional 2,799,050 shares during the period. Finally, Ninety One UK Ltd grew its stake in shares of Citizens Financial Group by 13.1% in the 4th quarter. Ninety One UK Ltd now owns 6,574,714 shares of the bank’s stock valued at $384,029,000 after purchasing an additional 763,098 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.
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.
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