Citizens Financial Group (NYSE:CFG) Given New $44.00 Price Target at Royal Bank of Canada

Citizens Financial Group (NYSE:CFG) had its price target decreased by Royal Bank of Canada from $50.00 to $44.00 in a report released on Thursday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the bank’s stock.

A number of other brokerages have also weighed in on CFG. Citigroup decreased their price target on shares of Citizens Financial Group from $58.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Piper Sandler lowered their price target on Citizens Financial Group from $48.00 to $43.00 and set an “overweight” rating on the stock in a research note on Thursday. Morgan Stanley reduced their price objective on Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. JPMorgan Chase & Co. lowered their target price on shares of Citizens Financial Group from $49.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Finally, DA Davidson reduced their target price on shares of Citizens Financial Group from $53.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $45.22.

Citizens Financial Group Trading Down 0.1 %

Shares of CFG stock opened at $35.43 on Thursday. Citizens Financial Group has a 1-year low of $32.60 and a 1-year high of $49.25. The company has a market cap of $15.49 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 0.81 and a beta of 0.81. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a 50 day simple moving average of $41.12 and a 200-day simple moving average of $43.62.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, April 16th. The bank reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. On average, equities research analysts expect that Citizens Financial Group will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be given a $0.42 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.74%. Citizens Financial Group’s dividend payout ratio is currently 53.33%.

Hedge Funds Weigh In On Citizens Financial Group

Hedge funds have recently modified their holdings of the business. Virtu Financial LLC purchased a new position in Citizens Financial Group during the third quarter worth about $453,000. Sanctuary Advisors LLC lifted its holdings in shares of Citizens Financial Group by 8.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 43,969 shares of the bank’s stock worth $1,806,000 after acquiring an additional 3,307 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Citizens Financial Group during the 3rd quarter worth approximately $89,000. Tidal Investments LLC increased its holdings in Citizens Financial Group by 292.2% in the 3rd quarter. Tidal Investments LLC now owns 69,851 shares of the bank’s stock valued at $2,869,000 after purchasing an additional 52,039 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Citizens Financial Group by 4.8% in the third quarter. Franklin Resources Inc. now owns 655,600 shares of the bank’s stock valued at $28,368,000 after purchasing an additional 29,940 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.