Credit Suisse Group Cuts Citizens Financial Group (CFG) Price Target to $42.00

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Citizens Financial Group (NYSE:CFG) had its target price decreased by Credit Suisse Group from $46.00 to $42.00 in a research report released on Friday morning. Credit Suisse Group currently has a neutral rating on the bank’s stock.

CFG has been the topic of several other research reports. Macquarie upgraded Citizens Financial Group from an underperform rating to a neutral rating and set a $38.00 price target on the stock in a research note on Monday, October 22nd. Zacks Investment Research upgraded Citizens Financial Group from a hold rating to a buy rating and set a $40.00 price target on the stock in a research note on Tuesday, November 27th. BMO Capital Markets decreased their price target on Citizens Financial Group from $48.00 to $45.00 and set an outperform rating on the stock in a research note on Monday, October 22nd. Bank of America upgraded Citizens Financial Group from an underperform rating to a buy rating and set a $43.00 price target on the stock in a research note on Monday, October 22nd. Finally, ValuEngine lowered Citizens Financial Group from a hold rating to a sell rating in a research note on Thursday, September 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $44.42.

Citizens Financial Group stock traded down $0.77 during mid-day trading on Friday, reaching $33.01. 5,178,498 shares of the company were exchanged, compared to its average volume of 4,825,882. Citizens Financial Group has a 12 month low of $32.79 and a 12 month high of $48.23. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.00 and a quick ratio of 0.98. The firm has a market cap of $15.81 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 0.62 and a beta of 1.24.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, October 19th. The bank reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.03. Citizens Financial Group had a return on equity of 8.11% and a net margin of 27.12%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the company earned $0.63 EPS. The company’s revenue was up 8.4% on a year-over-year basis. Sell-side analysts expect that Citizens Financial Group will post 3.52 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Wednesday, October 31st were paid a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, October 30th. This represents a $1.08 annualized dividend and a dividend yield of 3.27%. Citizens Financial Group’s payout ratio is 41.86%.

In other Citizens Financial Group news, Director Charles John Koch purchased 14,000 shares of the firm’s stock in a transaction dated Tuesday, October 23rd. The shares were bought at an average price of $36.32 per share, for a total transaction of $508,480.00. Following the purchase, the director now owns 49,937 shares in the company, valued at approximately $1,813,711.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Shivan S. Subramaniam purchased 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 21st. The stock was acquired at an average price of $35.32 per share, for a total transaction of $105,960.00. Following the purchase, the director now owns 38,963 shares in the company, valued at approximately $1,376,173.16. The disclosure for this purchase can be found here. Company insiders own 0.22% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CFG. LSV Asset Management boosted its holdings in shares of Citizens Financial Group by 51.7% during the 2nd quarter. LSV Asset Management now owns 7,513,125 shares of the bank’s stock valued at $292,260,000 after acquiring an additional 2,561,477 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Citizens Financial Group by 14.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,986,749 shares of the bank’s stock valued at $655,180,000 after acquiring an additional 2,189,838 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Citizens Financial Group by 51.9% during the 3rd quarter. Bank of Montreal Can now owns 5,312,122 shares of the bank’s stock valued at $204,888,000 after acquiring an additional 1,815,395 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Citizens Financial Group by 2.9% during the 3rd quarter. BlackRock Inc. now owns 42,438,174 shares of the bank’s stock valued at $1,636,839,000 after acquiring an additional 1,208,420 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Citizens Financial Group by 30.8% during the 2nd quarter. Janus Henderson Group PLC now owns 4,493,533 shares of the bank’s stock valued at $174,800,000 after acquiring an additional 1,058,650 shares in the last quarter. 96.09% of the stock is currently owned by institutional investors.

About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provide 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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