Citizens Financial Group (NYSE:CFG) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Citizens Financial Group (NYSE:CFG) from a sell rating to a hold rating in a research note published on Sunday.

A number of other equities research analysts also recently weighed in on the stock. Citigroup upped their price target on shares of Citizens Financial Group from $39.00 to $43.00 and gave the company a buy rating in a report on Friday, April 19th. UBS Group upped their price target on Citizens Financial Group from $37.00 to $38.00 and gave the company a buy rating in a report on Thursday, January 18th. Jefferies Financial Group lifted their target price on Citizens Financial Group from $35.00 to $36.00 and gave the stock a hold rating in a report on Monday, April 8th. JPMorgan Chase & Co. reduced their price objective on shares of Citizens Financial Group from $36.50 to $36.00 and set a neutral rating for the company in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada boosted their price target on shares of Citizens Financial Group from $33.00 to $35.00 and gave the company an outperform rating in a report on Thursday, January 18th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Citizens Financial Group has a consensus rating of Hold and an average target price of $37.73.

Citizens Financial Group Trading Down 0.5 %

Shares of CFG opened at $35.57 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87. Citizens Financial Group has a one year low of $22.77 and a one year high of $36.38. The stock has a 50-day moving average price of $34.24 and a 200 day moving average price of $31.47. The company has a market capitalization of $16.31 billion, a P/E ratio of 12.89 and a beta of 1.36.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the business posted $1.00 earnings per share. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis. Sell-side analysts forecast that Citizens Financial Group will post 3.23 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.72%. The ex-dividend date is Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 60.87%.

Insiders Place Their Bets

In other news, insider Craig Jack Read sold 6,327 shares of Citizens Financial Group stock in a transaction on Friday, April 19th. The shares were sold at an average price of $33.70, for a total value of $213,219.90. Following the completion of the sale, the insider now owns 37,558 shares in the company, valued at approximately $1,265,704.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.62% of the company’s stock.

Hedge Funds Weigh In On Citizens Financial Group

A number of hedge funds have recently added to or reduced their stakes in CFG. Legacy Capital Group California Inc. raised its position in Citizens Financial Group by 181.0% in the first quarter. Legacy Capital Group California Inc. now owns 46,999 shares of the bank’s stock worth $1,706,000 after acquiring an additional 30,274 shares during the period. Forsta AP Fonden raised its holdings in shares of Citizens Financial Group by 13.0% in the 1st quarter. Forsta AP Fonden now owns 112,800 shares of the bank’s stock worth $4,094,000 after purchasing an additional 13,000 shares during the period. Algebris UK Ltd bought a new stake in shares of Citizens Financial Group in the 1st quarter worth approximately $5,459,000. Oppenheimer & Co. Inc. lifted its stake in Citizens Financial Group by 3.8% in the first quarter. Oppenheimer & Co. Inc. now owns 24,918 shares of the bank’s stock valued at $904,000 after purchasing an additional 908 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. bought a new position in Citizens Financial Group during the first quarter valued at $1,211,000. Institutional investors and hedge funds 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.