Citizens Financial Group (NYSE:CFG) Price Target Raised to $39.00 at Argus

Citizens Financial Group (NYSE:CFG) had its price objective raised by Argus from $36.00 to $39.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the bank’s stock.

A number of other equities research analysts have also recently weighed in on the company. UBS Group upped their price objective on Citizens Financial Group from $37.00 to $38.00 and gave the stock a buy rating in a research note on Thursday, January 18th. Royal Bank of Canada upped their price objective on Citizens Financial Group from $33.00 to $35.00 and gave the stock an outperform rating in a research note on Thursday, January 18th. Jefferies Financial Group upped their price objective on Citizens Financial Group from $35.00 to $36.00 and gave the stock a hold rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods upped their price objective on Citizens Financial Group from $35.00 to $39.00 and gave the stock a market perform rating in a research note on Friday, April 5th. Finally, Barclays lowered Citizens Financial Group from an overweight rating to an equal weight rating and upped their target price for the company from $38.00 to $40.00 in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $37.13.

Citizens Financial Group Price Performance

Shares of CFG stock opened at $35.15 on Wednesday. Citizens Financial Group has a twelve month low of $22.77 and a twelve month high of $36.38. The stock has a market capitalization of $16.11 billion, a price-to-earnings ratio of 12.74 and a beta of 1.38. The stock has a fifty day simple moving average of $33.68 and a two-hundred day simple moving average of $30.98. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.63.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the company posted $1.00 earnings per share. Citizens Financial Group’s quarterly revenue was down 7.9% compared to the same quarter last year. On average, analysts predict that Citizens Financial Group will post 3.24 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.78%. The ex-dividend date is Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio (DPR) is 60.87%.

Insider Buying and Selling

In related news, insider Craig Jack Read sold 6,327 shares of the firm’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $33.70, for a total transaction of $213,219.90. Following the sale, the insider now directly owns 37,558 shares of the company’s stock, valued at $1,265,704.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.62% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Citizens Financial Group

Hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. purchased a new position in Citizens Financial Group during the fourth quarter worth approximately $1,959,000. Alps Advisors Inc. boosted its position in Citizens Financial Group by 32.5% during the third quarter. Alps Advisors Inc. now owns 12,212 shares of the bank’s stock worth $327,000 after purchasing an additional 2,992 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its position in Citizens Financial Group by 49.9% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,296,648 shares of the bank’s stock worth $42,970,000 after purchasing an additional 431,624 shares in the last quarter. SeaTown Holdings Pte. Ltd. boosted its position in Citizens Financial Group by 3,222.9% during the third quarter. SeaTown Holdings Pte. Ltd. now owns 1,163,000 shares of the bank’s stock worth $31,168,000 after purchasing an additional 1,128,000 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its position in Citizens Financial Group by 1.4% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 539,730 shares of the bank’s stock worth $17,887,000 after purchasing an additional 7,205 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Company Profile

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.