Citizens Financial Group (NYSE:CFG) Hits New 12-Month High – Here’s What Happened

Citizens Financial Group, Inc. (NYSE:CFG) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $43.98 and last traded at $43.72, with a volume of 806785 shares. The stock had previously closed at $43.27.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CFG. Piper Sandler boosted their target price on Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Raymond James began coverage on Citizens Financial Group in a research note on Thursday, July 11th. They issued a “market perform” rating for the company. DA Davidson lifted their price objective on shares of Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday. Evercore ISI lowered their price target on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 2nd. Finally, StockNews.com downgraded shares of Citizens Financial Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $43.80.

Citizens Financial Group Stock Performance

The company has a market capitalization of $19.17 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 1.42 and a beta of 1.07. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60. The company’s 50 day moving average is $41.22 and its 200-day moving average is $37.97.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.79. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 earnings per share. Equities analysts anticipate that Citizens Financial Group, Inc. will post 3.22 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend is Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 60.87%.

Insider Buying and Selling at Citizens Financial Group

In related news, insider Craig Jack Read sold 3,938 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.62% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in Citizens Financial Group in the second quarter valued at $25,000. Versant Capital Management Inc raised its stake in 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 period. Private Ocean LLC boosted 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 valued at $36,000 after purchasing an additional 838 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in Citizens Financial Group in the 2nd quarter valued at about $48,000. Finally, Atlas Capital Advisors LLC bought a new position in Citizens Financial Group during the second quarter valued at $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.