Citizens Financial Group (NYSE:CFG) Price Target Raised to $49.00 at The Goldman Sachs Group

Citizens Financial Group (NYSE:CFG) had its target price boosted by The Goldman Sachs Group from $43.00 to $49.00 in a research report released on Thursday morning, Benzinga reports. They currently have a buy rating on the bank’s stock.

Several other research firms also recently commented on CFG. Raymond James assumed coverage on shares of Citizens Financial Group in a research note on Thursday, July 11th. They issued a market perform rating on the stock. JPMorgan Chase & Co. dropped their price objective on Citizens Financial Group from $36.50 to $36.00 and set a neutral rating for the company in a report on Wednesday, May 1st. Evercore ISI increased their target price on Citizens Financial Group from $38.00 to $39.00 and gave the stock an in-line rating in a report on Tuesday, June 25th. Wedbush dropped their price target 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. Finally, Morgan Stanley upped their price objective on shares of Citizens Financial Group from $38.00 to $41.00 and gave the stock an equal weight rating in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $41.13.

Citizens Financial Group Price Performance

Shares of CFG opened at $41.00 on Thursday. The company’s 50-day moving average is $35.89 and its 200-day moving average is $34.28. 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 has a market capitalization of $18.66 billion, a PE ratio of 14.86, a PEG ratio of 1.55 and a beta of 1.10. Citizens Financial Group has a fifty-two week low of $22.77 and a fifty-two week high of $41.94.

Citizens Financial Group (NYSE:CFG) last released its quarterly 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). The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.95 billion. Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.92 earnings per share. Equities analysts forecast that Citizens Financial Group will post 3.24 EPS for the current year.

Citizens Financial Group Announces Dividend

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

Hedge Funds Weigh In On Citizens Financial Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc boosted its stake in shares of Citizens Financial Group by 262.8% during the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after purchasing an additional 678 shares in the last quarter. Larson Financial Group LLC bought a new position in Citizens Financial Group in the 4th quarter valued at approximately $33,000. Quarry LP boosted its position in Citizens Financial Group by 183.1% during the 4th quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after buying an additional 714 shares during the period. CVA Family Office LLC bought a new stake in Citizens Financial Group during the 4th quarter worth approximately $40,000. Finally, Blue Trust Inc. increased its position in Citizens Financial Group by 77.6% in the 4th quarter. Blue Trust Inc. now owns 1,314 shares of the bank’s stock valued at $44,000 after acquiring an additional 574 shares during the period. Institutional investors and hedge funds 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.