Shares of Citizens Financial Group, Inc. (NYSE:CFG – Get Free Report) have earned an average rating of “Moderate Buy” from the twenty research firms that are covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $79.38.
A number of brokerages have recently commented on CFG. Stephens upped their target price on shares of Citizens Financial Group from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Citizens Financial Group in a report on Monday, August 3rd. Royal Bank Of Canada boosted their price target on Citizens Financial Group from $70.00 to $79.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Citigroup upped their price objective on Citizens Financial Group from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Robert W. Baird increased their price objective 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.
Get Our Latest Research Report on CFG
Citizens Financial Group Stock Up 1.5%
Citizens Financial Group (NYSE:CFG – Get Free Report) last released its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.25 billion. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. Equities research analysts forecast that Citizens Financial Group will post 5.29 earnings per share for the current year.
Citizens Financial Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th were issued a $0.46 dividend. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.9%. Citizens Financial Group’s payout ratio is presently 39.91%.
Insider Activity at Citizens Financial Group
In related news, CEO Bruce Van Saun sold 129,369 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following the completion of the sale, the chief executive officer directly owned 1,140,763 shares of the company’s stock, valued at $82,214,789.41. This trade represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.67% of the stock is owned by company insiders.
Hedge Funds Weigh In On Citizens Financial Group
A number of hedge funds and other institutional investors have recently bought and sold shares of CFG. Parallel Advisors LLC boosted its stake in Citizens Financial Group by 2.9% during the 4th quarter. Parallel Advisors LLC now owns 6,078 shares of the bank’s stock valued at $355,000 after purchasing an additional 172 shares during the period. Cookson Peirce & Co. Inc. increased its position in Citizens Financial Group by 0.3% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 56,309 shares of the bank’s stock worth $3,946,000 after buying an additional 174 shares during the period. Manchester Capital Management LLC lifted its holdings in shares of Citizens Financial Group by 16.1% during the fourth quarter. Manchester Capital Management LLC now owns 1,389 shares of the bank’s stock worth $81,000 after buying an additional 193 shares during the last quarter. Trustmark Bank Trust Department lifted its holdings in shares of Citizens Financial Group by 4.9% during the second quarter. Trustmark Bank Trust Department now owns 4,278 shares of the bank’s stock worth $300,000 after buying an additional 198 shares during the last quarter. Finally, GoalVest Advisory LLC boosted its position in shares of Citizens Financial Group by 29.9% in the third quarter. GoalVest Advisory LLC now owns 883 shares of the bank’s stock valued at $56,000 after acquiring an additional 203 shares during the period. 94.90% of the stock is currently owned by hedge funds and other institutional investors.
Citizens Financial Group Company Profile
Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to individuals, families, businesses and institutions through branches, digital channels and other delivery platforms.
The company’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, credit cards, personal loans and other lending products. Through its commercial banking operations, Citizens provides business loans, commercial real estate financing, treasury management, capital markets services and other solutions for companies and institutional clients.
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