Citizens Financial Group (NYSE:CFG) Sets New 52-Week High – Here’s What Happened

Citizens Financial Group, Inc. (NYSE:CFG) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $59.33 and last traded at $59.1730, with a volume of 1662580 shares. The stock had previously closed at $58.41.

Wall Street Analysts Forecast Growth

CFG has been the topic of several research reports. Citigroup lowered shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, December 11th. Baird R W lowered Citizens Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. Evercore ISI increased their price target on Citizens Financial Group from $57.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Raymond James Financial set a $62.00 price objective on Citizens Financial Group and gave the company a “strong-buy” rating in a research note on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Citizens Financial Group in a research report on Monday, December 15th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.24.

Citizens Financial Group Price Performance

The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average of $53.15 and a 200 day moving average of $50.07. The firm has a market capitalization of $25.42 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 0.63 and a beta of 0.74.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, October 15th. The bank reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.02. The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.10 billion. Citizens Financial Group had a net margin of 14.17% and a return on equity of 7.48%. The business’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.79 EPS. As a group, research analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Wednesday, October 29th were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, October 29th. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.42. Citizens Financial Group’s payout ratio is currently 51.54%.

Hedge Funds Weigh In On Citizens Financial Group

Institutional investors have recently modified their holdings of the business. Cresset Asset Management LLC lifted its holdings in Citizens Financial Group by 46.4% during the first quarter. Cresset Asset Management LLC now owns 18,892 shares of the bank’s stock worth $774,000 after acquiring an additional 5,984 shares during the period. CW Advisors LLC purchased a new stake in shares of Citizens Financial Group during the 1st quarter valued at $673,000. Norinchukin Bank The raised its stake in shares of Citizens Financial Group by 15.1% during the 1st quarter. Norinchukin Bank The now owns 23,512 shares of the bank’s stock worth $963,000 after purchasing an additional 3,088 shares during the period. 1832 Asset Management L.P. raised its stake in shares of Citizens Financial Group by 4.6% during the 1st quarter. 1832 Asset Management L.P. now owns 46,322 shares of the bank’s stock worth $1,898,000 after purchasing an additional 2,045 shares during the period. Finally, Jump Financial LLC purchased a new position in shares of Citizens Financial Group in the 1st quarter worth about $3,746,000. 94.90% of the stock is owned by institutional investors.

About Citizens Financial Group

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.