Citizens Financial Group (NYSE:CFG) Price Target Raised to $84.00

Citizens Financial Group (NYSE:CFG) had its target price raised by Cantor Fitzgerald from $80.00 to $84.00 in a report published on Wednesday morning, MarketBeat.com reports. Cantor Fitzgerald currently has an overweight rating on the bank’s stock.

Several other research analysts have also commented on the company. DA Davidson reissued a “neutral” rating on shares of Citizens Financial Group in a report on Friday, August 14th. UBS Group raised their target price on shares of Citizens Financial Group from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Evercore reaffirmed an “outperform” rating and issued a $80.00 target price on shares of Citizens Financial Group in a research note on Monday, July 6th. Royal Bank Of Canada lifted their target price on shares of Citizens Financial Group from $70.00 to $79.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Finally, Robert W. Baird boosted their price target on shares of Citizens Financial Group from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, July 17th. Sixteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $79.25.

Citizens Financial Group Stock Up 0.2%

CFG opened at $69.84 on Wednesday. The firm has a market capitalization of $29.42 billion, a P/E ratio of 15.15, a price-to-earnings-growth ratio of 0.53 and a beta of 0.67. Citizens Financial Group has a one year low of $47.96 and a one year high of $75.33. The company has a fifty day moving average price of $71.15 and a 200-day moving average price of $65.56. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.05. The company had revenue of $2.28 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company earned $0.92 earnings per share. Equities research analysts expect that Citizens Financial Group will post 5.3 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, July 30th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, July 30th. Citizens Financial Group’s dividend payout ratio (DPR) is currently 39.91%.

Insiders Place Their Bets

In related news, CEO Saun Bruce Van sold 129,369 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $72.07, for a total value of $9,323,623.83. Following the completion of the sale, the chief executive officer owned 1,140,763 shares in the company, valued at $82,214,789.41. The trade was a 10.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Parallel Advisors LLC grew its holdings in shares of 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 last quarter. Cookson Peirce & Co. Inc. raised 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 purchasing an additional 174 shares during the period. Inscription Capital LLC lifted its stake in Citizens Financial Group by 1.6% in the fourth quarter. Inscription Capital LLC now owns 10,902 shares of the bank’s stock worth $637,000 after purchasing an additional 175 shares during the last quarter. Clear Harbor Asset Management LLC lifted its stake in Citizens Financial Group by 0.9% in the fourth quarter. Clear Harbor Asset Management LLC now owns 19,694 shares of the bank’s stock worth $1,150,000 after purchasing an additional 175 shares during the last quarter. Finally, MGO One Seven LLC boosted its position in Citizens Financial Group by 3.7% during the fourth quarter. MGO One Seven LLC now owns 5,270 shares of the bank’s stock valued at $308,000 after buying an additional 187 shares during the period. 94.90% of the stock is owned by hedge funds and other institutional investors.

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.