Citizens Financial Group (NYSE:CFG) Price Target Raised to $59.00

Citizens Financial Group (NYSE:CFG) had its price objective hoisted by The Goldman Sachs Group from $48.00 to $59.00 in a report issued on Tuesday,Benzinga reports. They currently have a buy rating on the bank’s stock.

Several other research firms have also issued reports on CFG. Morgan Stanley boosted their target price on Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. DA Davidson boosted their target price on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Evercore ISI decreased their target price on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a research report on Wednesday, October 2nd. Barclays boosted their target price on Citizens Financial Group from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada boosted their price objective on Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $45.47.

Citizens Financial Group Stock Performance

Citizens Financial Group stock opened at $48.11 on Tuesday. The stock has a 50-day simple moving average of $43.54 and a 200 day simple moving average of $40.21. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61. Citizens Financial Group has a 12-month low of $26.99 and a 12-month high of $49.25. The stock has a market capitalization of $21.20 billion, a price-to-earnings ratio of 18.94, a P/E/G ratio of 1.83 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, hitting the consensus estimate 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 return on equity of 5.73% and a net margin of 10.37%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. On average, research analysts anticipate that Citizens Financial Group will post 3.2 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend was Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio is currently 66.14%.

Institutional Investors Weigh In On Citizens Financial Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Innealta Capital LLC acquired a new position in Citizens Financial Group in the 2nd quarter valued at $25,000. Costello Asset Management INC acquired a new position in Citizens Financial Group in the 3rd quarter valued at $25,000. Ashton Thomas Securities LLC acquired a new position in Citizens Financial Group in the 3rd quarter valued at $27,000. Catalyst Capital Advisors LLC acquired a new position in Citizens Financial Group in the 3rd quarter valued at $28,000. Finally, Versant Capital Management Inc grew its holdings in Citizens Financial Group by 262.8% in the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after buying an additional 678 shares in the last quarter. Institutional investors 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.