Citizens Financial Group Inc. (CFG) Hits New 52-Week High Following Analyst Upgrade
Citizens Financial Group Inc. (NYSE:CFG) hit a new 52-week high during mid-day trading on Wednesday after Wedbush raised their price target on the stock from $31.00 to $34.00. Wedbush currently has a neutral rating on the stock. Citizens Financial Group traded as high as $33.33 and last traded at $33.32, with a volume of 2,571,752 shares. The stock had previously closed at $32.39.
Other equities research analysts have also issued research reports about the stock. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Citizens Financial Group in a research note on Tuesday, November 15th. Citigroup Inc. lowered shares of Citizens Financial Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 15th. Keefe, Bruyette & Woods upgraded shares of Citizens Financial Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $27.00 to $36.00 in a research note on Tuesday. Credit Suisse Group AG began coverage on shares of Citizens Financial Group in a research note on Tuesday, November 22nd. They issued a “neutral” rating and a $28.00 price objective for the company. Finally, Zacks Investment Research lowered shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 17th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Citizens Financial Group presently has an average rating of “Hold” and a consensus price target of $29.87.
Several hedge funds have recently bought and sold shares of CFG. Tower Research Capital LLC TRC increased its stake in Citizens Financial Group by 927.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,239 shares of the company’s stock worth $105,000 after buying an additional 4,729 shares in the last quarter. Virtus Investment Advisers Inc. bought a new stake in Citizens Financial Group during the third quarter worth about $106,000. Point72 Asset Management L.P. bought a new stake in Citizens Financial Group during the second quarter worth about $110,000. Capital Analysts LLC increased its stake in Citizens Financial Group by 2,002.7% in the second quarter. Capital Analysts LLC now owns 1,535 shares of the company’s stock worth $111,000 after buying an additional 1,462 shares in the last quarter. Finally, Global X Management Co. LLC increased its stake in Citizens Financial Group by 148.3% in the third quarter. Global X Management Co. LLC now owns 4,711 shares of the company’s stock worth $116,000 after buying an additional 2,814 shares in the last quarter. 94.28% of the stock is owned by institutional investors.
The stock has a 50 day moving average price of $27.85 and a 200-day moving average price of $24.08. The company has a market capitalization of $17.26 billion, a P/E ratio of 18.10 and a beta of 1.10.
Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Friday, October 21st. The company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.03. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.31 billion. Citizens Financial Group had a net margin of 17.53% and a return on equity of 4.88%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 earnings per share. On average, analysts predict that Citizens Financial Group Inc. will post $1.93 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 16th. Investors of record on Wednesday, November 2nd were given a dividend of $0.12 per share. The ex-dividend date was Monday, October 31st. This represents a $0.48 dividend on an annualized basis and a yield of 1.48%. Citizens Financial Group’s dividend payout ratio (DPR) is 25.95%.
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About Citizens Financial Group
Citizens Financial Group, Inc is a retail bank holding company in the United States. The Company offers a range of retail and commercial banking products and services to individuals, institutions and companies. The Company operates in two segments: Consumer Banking and Commercial Banking. The Company’s Consumer Banking serves retail customers and small businesses.
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