Citizens Financial Group (NYSE:CFG) Price Target Raised to $53.00 at Piper Sandler

Citizens Financial Group (NYSE:CFG) had its price target boosted by Piper Sandler from $48.00 to $53.00 in a report issued on Tuesday,Benzinga reports. Piper Sandler currently has an overweight rating on the bank’s stock.

CFG has been the subject of several other reports. Citigroup lifted their target price on shares of Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Barclays lifted their target price on shares of Citizens Financial Group from $40.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods lifted their target price on shares of Citizens Financial Group from $42.00 to $46.00 and gave the company a “market perform” rating in a report on Monday, September 30th. Morgan Stanley lifted their target price on shares of Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Finally, StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $45.80.

Citizens Financial Group Stock Performance

CFG opened at $46.78 on Tuesday. Citizens Financial Group has a 12-month low of $27.97 and a 12-month high of $49.25. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $20.62 billion, a PE ratio of 18.42, a P/E/G ratio of 1.79 and a beta of 1.08. The firm has a 50 day moving average of $43.78 and a two-hundred day moving average of $40.41.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.79. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the firm posted $0.85 EPS. Citizens Financial Group’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, analysts anticipate that Citizens Financial Group will post 3.2 EPS for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were paid a dividend of $0.42 per share. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 annualized dividend and a yield of 3.59%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 66.14%.

Institutional Investors Weigh In On Citizens Financial Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oddo BHF Asset Management Sas acquired a new position in shares of Citizens Financial Group during the 3rd quarter valued at about $590,000. Franklin Resources Inc. boosted its position in shares of Citizens Financial Group by 4.8% during the 3rd quarter. Franklin Resources Inc. now owns 655,600 shares of the bank’s stock valued at $28,368,000 after acquiring an additional 29,940 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Citizens Financial Group by 292.2% during the 3rd quarter. Tidal Investments LLC now owns 69,851 shares of the bank’s stock valued at $2,869,000 after acquiring an additional 52,039 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Citizens Financial Group during the 3rd quarter valued at about $89,000. Finally, Sanctuary Advisors LLC boosted its position in shares of Citizens Financial Group by 8.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 43,969 shares of the bank’s stock valued at $1,806,000 after acquiring an additional 3,307 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

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.