Citizens Financial Group (NYSE:CFG) PT Lowered to $31.00

Citizens Financial Group (NYSE:CFG) had its price target trimmed by Piper Sandler from $32.00 to $31.00 in a report released on Friday, Benzinga reports. The brokerage currently has an overweight rating on the bank’s stock.

A number of other brokerages have also issued reports on CFG. Morgan Stanley restated an overweight rating and issued a $33.00 target price on shares of Citizens Financial Group in a research note on Friday, July 21st. StockNews.com upgraded shares of Citizens Financial Group from a sell rating to a hold rating in a research note on Wednesday, August 16th. Credit Suisse Group restated a neutral rating and issued a $35.00 target price on shares of Citizens Financial Group in a research note on Thursday, July 20th. Evercore ISI lowered shares of Citizens Financial Group from an outperform rating to an in-line rating and cut their target price for the company from $32.00 to $29.00 in a research note on Monday, July 10th. Finally, Wedbush increased their price objective on shares of Citizens Financial Group from $28.00 to $34.00 and gave the stock a neutral rating in a research note on Thursday, July 20th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $35.00.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $27.40 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.91 and a quick ratio of 0.90. The firm has a 50-day moving average of $29.14 and a two-hundred day moving average of $28.99. The stock has a market cap of $12.94 billion, a P/E ratio of 6.23 and a beta of 1.35. Citizens Financial Group has a 1-year low of $23.37 and a 1-year high of $44.82.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, July 19th. The bank reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.08). The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Citizens Financial Group had a net margin of 20.41% and a return on equity of 10.68%. During the same period in the previous year, the company earned $1.14 earnings per share. On average, research analysts expect that Citizens Financial Group will post 3.82 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Shareholders of record on Wednesday, August 2nd were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, August 1st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.13%. Citizens Financial Group’s dividend payout ratio (DPR) is 38.18%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Citizens Financial Group by 23.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,537 shares of the bank’s stock valued at $478,000 after buying an additional 1,980 shares during the period. American Century Companies Inc. lifted its holdings in Citizens Financial Group by 29.7% in the 1st quarter. American Century Companies Inc. now owns 53,879 shares of the bank’s stock valued at $2,442,000 after acquiring an additional 12,350 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Citizens Financial Group by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 57,027 shares of the bank’s stock valued at $2,585,000 after purchasing an additional 3,531 shares in the last quarter. Yousif Capital Management LLC grew its stake in shares of Citizens Financial Group by 9.3% in the 1st quarter. Yousif Capital Management LLC now owns 71,237 shares of the bank’s stock worth $3,229,000 after purchasing an additional 6,060 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of Citizens Financial Group by 1.5% in the 1st quarter. Blair William & Co. IL now owns 38,619 shares of the bank’s stock worth $1,751,000 after purchasing an additional 586 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.