DA Davidson Raises Citizens Financial Group (NYSE:CFG) Price Target to $46.00

Citizens Financial Group (NYSE:CFG) had its price target raised by DA Davidson from $41.00 to $46.00 in a research note published on Thursday, Benzinga reports. DA Davidson currently has a buy rating on the bank’s stock. DA Davidson also issued estimates for Citizens Financial Group’s Q3 2024 earnings at $0.81 EPS.

CFG has been the topic of several other reports. Raymond James initiated coverage on shares of Citizens Financial Group in a report on Thursday, July 11th. They set a market perform rating on the stock. JPMorgan Chase & Co. lowered their target price 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. Morgan Stanley raised their target price on shares of Citizens Financial Group from $38.00 to $41.00 and gave the company an equal weight rating in a research note on Thursday. Wedbush lowered their target price on shares of Citizens Financial Group from $38.00 to $35.00 and set a neutral rating for the company in a research note on Thursday, April 18th. Finally, Piper Sandler upgraded shares of Citizens Financial Group from a neutral rating to an overweight rating and raised their target price for the company from $35.00 to $41.00 in a research note on Friday, April 26th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $41.13.

Citizens Financial Group Stock Performance

Shares of CFG stock opened at $41.00 on Thursday. The firm has a market cap of $18.66 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 1.54 and a beta of 1.10. The company’s 50 day moving average is $35.89 and its 200 day moving average is $34.26. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. Citizens Financial Group has a 52-week low of $22.77 and a 52-week high of $41.94.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Wednesday, July 17th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.01). The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 earnings per share. On average, sell-side analysts anticipate that Citizens Financial Group will post 3.2 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be issued a dividend of $0.42 per share. The ex-dividend date is Wednesday, July 31st. This represents a $1.68 annualized dividend and a dividend yield of 4.10%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 60.87%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CFG. Norges Bank purchased a new position in shares of Citizens Financial Group during the fourth quarter worth $117,372,000. Capital International Investors raised its holdings in shares of Citizens Financial Group by 4.4% during the first quarter. Capital International Investors now owns 36,709,412 shares of the bank’s stock worth $1,332,185,000 after purchasing an additional 1,552,333 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Citizens Financial Group by 96.3% in the fourth quarter. Hsbc Holdings PLC now owns 2,472,122 shares of the bank’s stock valued at $81,932,000 after buying an additional 1,212,642 shares in the last quarter. Franklin Resources Inc. increased its holdings in Citizens Financial Group by 130.0% in the fourth quarter. Franklin Resources Inc. now owns 1,955,230 shares of the bank’s stock valued at $64,796,000 after buying an additional 1,105,011 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Citizens Financial Group by 3,234.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,100,988 shares of the bank’s stock valued at $39,669,000 after buying an additional 1,067,971 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.