Citizens Financial Group (NYSE:CFG) Reaches New 1-Year High After Analyst Upgrade

Citizens Financial Group, Inc. (NYSE:CFG)’s share price reached a new 52-week high during trading on Tuesday after UBS Group raised their price target on the stock from $75.00 to $82.00. UBS Group currently has a buy rating on the stock. Citizens Financial Group traded as high as $72.94 and last traded at $72.2710, with a volume of 109550 shares changing hands. The stock had previously closed at $72.11.

Several other equities analysts have also recently issued reports on CFG. Citigroup cut shares of Citizens Financial Group from a “buy” rating to a “neutral” rating in a research note on Monday. DA Davidson lifted their price target on shares of Citizens Financial Group from $73.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Weiss Ratings raised shares of Citizens Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. raised their target price on shares of Citizens Financial Group from $68.50 to $76.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Morgan Stanley lifted their target price on shares of Citizens Financial Group from $73.00 to $79.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Sixteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.35.

Insider Activity

In other Citizens Financial Group news, insider Michelle Moosally sold 6,050 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total transaction of $376,068.00. Following the completion of the sale, the insider directly owned 22,565 shares of the company’s stock, valued at approximately $1,402,640.40. This represents a 21.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Citizens Financial Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its stake in Citizens Financial Group by 5.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 504,595 shares of the bank’s stock valued at $29,968,000 after buying an additional 25,180 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new stake in Citizens Financial Group in the 4th quarter worth approximately $2,412,000. Geode Capital Management LLC raised its holdings in shares of Citizens Financial Group by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 11,361,142 shares of the bank’s stock worth $661,052,000 after acquiring an additional 32,264 shares in the last quarter. Todd Asset Management LLC raised its holdings in shares of Citizens Financial Group by 10.6% during the 4th quarter. Todd Asset Management LLC now owns 991,510 shares of the bank’s stock worth $57,914,000 after acquiring an additional 94,774 shares in the last quarter. Finally, Jupiter Asset Management Ltd. boosted its position in shares of Citizens Financial Group by 45.9% during the 4th quarter. Jupiter Asset Management Ltd. now owns 270,484 shares of the bank’s stock valued at $15,799,000 after acquiring an additional 85,052 shares during the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Stock Performance

The business’s fifty day moving average is $65.26 and its two-hundred day moving average is $62.88. The stock has a market capitalization of $30.60 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 0.56 and a beta of 0.67. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.51.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 EPS for the quarter, beating the consensus estimate of $1.10 by $0.03. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the business earned $0.77 earnings per share. Citizens Financial Group’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, research analysts anticipate that Citizens Financial Group, Inc. will post 5.2 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Thursday, April 30th. Citizens Financial Group’s dividend payout ratio is currently 43.50%.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.