Citizens Financial Group (NYSE:CFG) PT Lowered to $46.00 at Evercore ISI

Citizens Financial Group (NYSE:CFG) had its price objective lowered by Evercore ISI from $47.00 to $46.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has an in-line rating on the bank’s stock.

A number of other research analysts have also recently issued reports on the stock. Jefferies Financial Group lifted their target price on shares of Citizens Financial Group from $36.00 to $37.00 and gave the company a hold rating in a research note on Wednesday, July 3rd. Raymond James began coverage on Citizens Financial Group in a research report on Thursday, July 11th. They issued a market perform rating for the company. DA Davidson increased their target price on Citizens Financial Group from $41.00 to $46.00 and gave the stock a buy rating in a report on Thursday, July 18th. Piper Sandler lifted their price target on Citizens Financial Group from $45.00 to $48.00 and gave the company an overweight rating in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a market perform rating in a report on Monday, September 30th. Ten equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $43.07.

Citizens Financial Group Stock Performance

Shares of NYSE:CFG opened at $41.18 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.86. The business’s fifty day moving average price is $40.97 and its two-hundred day moving average price is $37.61. Citizens Financial Group has a fifty-two week low of $22.77 and a fifty-two week high of $43.96. The stock has a market capitalization of $18.74 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 1.43 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the previous year, the company posted $0.92 EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, analysts predict that Citizens Financial Group will post 3.24 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend was Wednesday, July 31st. Citizens Financial Group’s payout ratio is 60.87%.

Insider Activity

In related news, insider Craig Jack Read sold 3,938 shares of Citizens Financial Group stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $43.26, for a total transaction of $170,357.88. Following the completion of the sale, the insider now directly owns 33,620 shares of the company’s stock, valued at $1,454,401.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.62% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Innealta Capital LLC bought a new stake in Citizens Financial Group in the second quarter valued at approximately $25,000. Versant Capital Management Inc increased its position in shares of Citizens Financial Group by 262.8% in the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after buying an additional 678 shares in the last quarter. Private Ocean LLC raised its stake in Citizens Financial Group by 484.4% during the 2nd quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock worth $36,000 after buying an additional 838 shares during the period. Quarry LP lifted its holdings in Citizens Financial Group by 183.1% during the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after acquiring an additional 714 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Citizens Financial Group in the second quarter valued at about $48,000. 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.