Citizens Financial Group (NYSE:CFG) PT Raised to $41.00 at Morgan Stanley

Citizens Financial Group (NYSE:CFG) had its price objective hoisted by Morgan Stanley from $38.00 to $41.00 in a report released on Thursday, Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

A number of other research analysts have also recently issued reports on CFG. Wedbush lowered their price objective on Citizens Financial Group from $38.00 to $35.00 and set a neutral rating for the company in a research note on Thursday, April 18th. Jefferies Financial Group lifted their price target on Citizens Financial Group from $36.00 to $37.00 and gave the stock a hold rating in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods increased their price objective on shares of Citizens Financial Group from $39.00 to $40.00 and gave the company a market perform rating in a research report on Tuesday, July 9th. Citigroup raised their price objective on shares of Citizens Financial Group from $39.00 to $43.00 and gave the company a buy rating in a research note on Friday, April 19th. Finally, StockNews.com upgraded shares of Citizens Financial Group from a sell rating to a hold rating in a research note on Sunday, May 5th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Citizens Financial Group has a consensus rating of Hold and an average price target of $41.13.

Citizens Financial Group Stock Up 0.6 %

NYSE:CFG opened at $41.00 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.87. The firm’s 50-day moving average price is $35.89 and its 200-day moving average price is $34.28. The company has a market capitalization of $18.66 billion, a PE ratio of 14.86, a P/E/G ratio of 1.55 and a beta of 1.10. Citizens Financial Group has a 1-year low of $22.77 and a 1-year high of $41.94.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, July 17th. The bank reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter last year, the company posted $0.92 EPS. Citizens Financial Group’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities analysts predict that Citizens Financial Group will post 3.24 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.42 per share. The ex-dividend date is Wednesday, July 31st. This represents a $1.68 annualized dividend and a dividend yield of 4.10%. Citizens Financial Group’s payout ratio is 60.87%.

Hedge Funds Weigh In On Citizens Financial Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Diversified Trust Co purchased a new position in Citizens Financial Group in the fourth quarter worth about $330,000. Wedmont Private Capital purchased a new position in shares of Citizens Financial Group in the fourth quarter worth approximately $206,000. Raymond James Trust N.A. bought a new stake in Citizens Financial Group during the fourth quarter valued at approximately $228,000. Vest Financial LLC increased its holdings in Citizens Financial Group by 15.4% during the fourth quarter. Vest Financial LLC now owns 379,462 shares of the bank’s stock valued at $12,575,000 after buying an additional 50,560 shares during the last quarter. Finally, Whittier Trust Co. raised its position in Citizens Financial Group by 203.1% in the fourth quarter. Whittier Trust Co. now owns 7,259 shares of the bank’s stock worth $240,000 after acquiring an additional 4,864 shares during the period. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

About Citizens Financial Group

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.