Royal Bank of Canada Raises Citizens Financial Group (NYSE:CFG) Price Target to $45.00

Citizens Financial Group (NYSE:CFG) had its price objective upped by Royal Bank of Canada from $43.00 to $45.00 in a research report sent to investors on Thursday, Marketbeat reports. Royal Bank of Canada currently has an outperform rating on the bank’s stock.

Several other brokerages also recently commented on CFG. Evercore ISI reduced their target price on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a report on Wednesday, October 2nd. Stephens boosted their target price on Citizens Financial Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. StockNews.com downgraded Citizens Financial Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. The Goldman Sachs Group boosted their price objective on shares of Citizens Financial Group from $43.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Piper Sandler boosted their price objective on shares of Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Citizens Financial Group currently has a consensus rating of “Hold” and a consensus price target of $43.80.

Citizens Financial Group Stock Up 0.8 %

Shares of CFG opened at $42.47 on Thursday. The stock has a market cap of $19.32 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 1.42 and a beta of 1.07. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. Citizens Financial Group has a 12 month low of $22.77 and a 12 month high of $44.39. The company has a 50-day moving average price of $41.33 and a two-hundred day moving average price of $38.07.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, hitting analysts’ consensus estimates of $0.79. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 earnings per share. Equities analysts predict that Citizens Financial Group will post 3.22 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, November 13th. Stockholders of record on Wednesday, October 30th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend is Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio (DPR) is 60.87%.

Insider Activity

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

Hedge Funds Weigh In On Citizens Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CFG. Innealta Capital LLC acquired a new position in Citizens Financial Group in the 2nd quarter worth $25,000. Versant Capital Management Inc boosted its stake in shares of Citizens Financial Group by 262.8% during the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock worth $34,000 after buying an additional 678 shares during the last quarter. Private Ocean LLC boosted its stake in shares of 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 last quarter. Ridgewood Investments LLC acquired a new position in shares of Citizens Financial Group during the 2nd quarter worth about $48,000. Finally, Atlas Capital Advisors LLC acquired a new position in shares of Citizens Financial Group during the 2nd quarter worth about $48,000. 94.90% of the stock is owned by institutional investors and hedge funds.

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.