Citizens Financial Group (NYSE:CFG) Stock Gets Price Target Trim from Truist Financial

Citizens Financial Group (NYSE:CFG) had its price target trimmed by Truist Financial from $77.00 to $70.00 in a report issued on Tuesday, MarketBeat.com reports. The brokerage currently has a hold rating on the bank’s stock.

CFG has been the subject of a number of other reports. Raymond James Financial reissued a “strong-buy” rating on shares of Citizens Financial Group in a research report on Friday, October 16th. Stephens cut their price objective on shares of Citizens Financial Group from $70.00 to $65.00 and set an “equal weight” rating on the stock in a report on Tuesday. Argus set a $80.00 target price on shares of Citizens Financial Group in a research note on Wednesday, July 29th. JPMorgan Chase & Co. decreased their target price on shares of Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating for the company in a research note on Friday, October 2nd. Finally, Jefferies Financial Group lifted their target price on shares of Citizens Financial Group from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $77.47.

Citizens Financial Group Stock Performance

Shares of Citizens Financial Group stock opened at $65.22 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $27.47 billion, a P/E ratio of 13.05, a P/E/G ratio of 0.59 and a beta of 0.72. The business has a fifty day simple moving average of $67.30 and a two-hundred day simple moving average of $67.22. Citizens Financial Group has a 12 month low of $49.00 and a 12 month high of $75.33.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Friday, October 16th. The bank reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.34 billion. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. During the same period in the prior year, the firm earned $1.05 EPS. On average, equities analysts forecast that Citizens Financial Group will post 5.30 earnings per share for the current fiscal year.

Citizens Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. Citizens Financial Group’s payout ratio is presently 37.02%.

Institutional Trading of Citizens Financial Group

Several institutional investors have recently bought and sold shares of the company. 55 North Private Wealth LLC raised its holdings in Citizens Financial Group by 4.6% in the third quarter. 55 North Private Wealth LLC now owns 3,830 shares of the bank’s stock worth $244,000 after buying an additional 170 shares during the last quarter. Cookson Peirce & Co. Inc. grew its holdings in shares of Citizens Financial Group by 0.3% during the second quarter. Cookson Peirce & Co. Inc. now owns 56,309 shares of the bank’s stock valued at $3,946,000 after buying an additional 174 shares during the last quarter. Trustmark Bank Trust Department grew its holdings in shares of Citizens Financial Group by 4.9% during the second quarter. Trustmark Bank Trust Department now owns 4,278 shares of the bank’s stock valued at $300,000 after buying an additional 198 shares during the last quarter. GoalVest Advisory LLC increased its position in shares of Citizens Financial Group by 29.9% during the third quarter. GoalVest Advisory LLC now owns 883 shares of the bank’s stock valued at $56,000 after acquiring an additional 203 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in shares of Citizens Financial Group by 0.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 64,323 shares of the bank’s stock valued at $3,757,000 after acquiring an additional 220 shares in the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to consumers, small businesses, middle-market companies, large corporations and institutional clients.

The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.