Wedbush Trims Citizens Financial Group (NYSE:CFG) Target Price to $35.00

Citizens Financial Group (NYSE:CFG) had its target price reduced by Wedbush from $38.00 to $35.00 in a report published on Thursday morning, Benzinga reports. Wedbush currently has a neutral rating on the bank’s stock.

A number of other equities analysts have also recently weighed in on the company. StockNews.com cut Citizens Financial Group from a hold rating to a sell rating in a report on Tuesday, March 5th. Morgan Stanley raised their price objective on Citizens Financial Group from $31.00 to $39.00 and gave the company an equal weight rating in a report on Wednesday, February 7th. Barclays cut Citizens Financial Group from an overweight rating to an equal weight rating and raised their price objective for the company from $38.00 to $40.00 in a report on Tuesday, January 2nd. Royal Bank of Canada lifted their price target on Citizens Financial Group from $33.00 to $35.00 and gave the stock an outperform rating in a research note on Thursday, January 18th. Finally, UBS Group lifted their price target on Citizens Financial Group from $37.00 to $38.00 and gave the stock a buy rating in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Citizens Financial Group presently has an average rating of Hold and a consensus target price of $35.88.

Citizens Financial Group Stock Performance

Shares of CFG opened at $32.90 on Thursday. The company has a market cap of $15.08 billion, a PE ratio of 11.92 and a beta of 1.38. The company has a current ratio of 0.87, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average price of $33.28 and a 200-day moving average price of $30.58. Citizens Financial Group has a 12-month low of $22.77 and a 12-month high of $36.38.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.96 billion. Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The business’s revenue was down 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.00 EPS. As a group, equities analysts forecast that Citizens Financial Group will post 3.25 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.68 annualized dividend and a dividend yield of 5.11%. Citizens Financial Group’s dividend payout ratio is presently 60.87%.

Insider Activity at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 4,508 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $33.54, for a total value of $151,198.32. Following the sale, the insider now directly owns 43,885 shares of the company’s stock, valued at $1,471,902.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.62% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Resurgent Financial Advisors LLC purchased a new position in shares of Citizens Financial Group in the fourth quarter worth $28,000. Groupama Asset Managment purchased a new stake in Citizens Financial Group during the fourth quarter valued at $27,000. Clear Street Markets LLC increased its position in Citizens Financial Group by 93.6% during the first quarter. Clear Street Markets LLC now owns 964 shares of the bank’s stock valued at $29,000 after acquiring an additional 466 shares during the last quarter. Lindbrook Capital LLC increased its position in Citizens Financial Group by 100.8% during the third quarter. Lindbrook Capital LLC now owns 988 shares of the bank’s stock valued at $26,000 after acquiring an additional 496 shares during the last quarter. Finally, Larson Financial Group LLC purchased a new stake in Citizens Financial Group during the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company 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.