Citizens Financial Group Inc (NYSE:CFG) Receives $40.63 Consensus PT from Brokerages

Shares of Citizens Financial Group Inc (NYSE:CFG) have been assigned a consensus recommendation of “Hold” from the fifteen analysts that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $40.63.

A number of research analysts recently weighed in on CFG shares. Citigroup downgraded Citizens Financial Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $40.00 to $35.00 in a research note on Friday, July 12th. JPMorgan Chase & Co. dropped their price target on Citizens Financial Group from $41.50 to $40.50 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. Zacks Investment Research downgraded Citizens Financial Group from a “hold” rating to a “sell” rating and set a $37.00 price objective for the company. in a research note on Friday, July 12th. Argus raised Citizens Financial Group from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Monday, July 29th. Finally, UBS Group downgraded Citizens Financial Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $40.00 to $38.00 in a research note on Wednesday, July 10th.

CFG stock traded down $1.00 during trading on Friday, reaching $31.77. 2,959,431 shares of the stock were exchanged, compared to its average volume of 4,866,866. The firm’s 50 day moving average is $34.98 and its 200 day moving average is $35.03. Citizens Financial Group has a twelve month low of $27.62 and a twelve month high of $41.76. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a market cap of $14.58 billion, a P/E ratio of 8.92, a price-to-earnings-growth ratio of 1.57 and a beta of 1.45.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Friday, July 19th. The bank reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.02. Citizens Financial Group had a return on equity of 8.94% and a net margin of 22.61%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the business earned $0.88 EPS. As a group, analysts predict that Citizens Financial Group will post 3.82 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, July 30th. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.32. This represents a $1.44 annualized dividend and a dividend yield of 4.53%. Citizens Financial Group’s dividend payout ratio is 40.45%.

In related news, Director Charles John Koch acquired 15,000 shares of the stock in a transaction dated Tuesday, August 20th. The stock was purchased at an average cost of $32.45 per share, with a total value of $486,750.00. Following the completion of the purchase, the director now directly owns 68,781 shares in the company, valued at approximately $2,231,943.45. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Citizens Financial Group by 1.0% during the second quarter. Vanguard Group Inc. now owns 51,389,678 shares of the bank’s stock valued at $1,817,139,000 after acquiring an additional 492,162 shares during the last quarter. BlackRock Inc. increased its position in shares of Citizens Financial Group by 4.2% during the first quarter. BlackRock Inc. now owns 43,794,858 shares of the bank’s stock valued at $1,423,333,000 after acquiring an additional 1,753,064 shares during the last quarter. Invesco Ltd. increased its position in shares of Citizens Financial Group by 2.1% during the second quarter. Invesco Ltd. now owns 21,632,377 shares of the bank’s stock valued at $764,921,000 after acquiring an additional 449,026 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Citizens Financial Group by 4.6% during the first quarter. JPMorgan Chase & Co. now owns 18,633,845 shares of the bank’s stock valued at $605,600,000 after acquiring an additional 823,732 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of Citizens Financial Group by 0.4% during the second quarter. LSV Asset Management now owns 9,282,568 shares of the bank’s stock valued at $328,231,000 after acquiring an additional 36,539 shares during the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

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Analyst Recommendations for Citizens Financial Group (NYSE:CFG)

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