Citizens Financial Group (NYSE:CFG) Price Target Raised to $80.00

Citizens Financial Group (NYSE:CFG) had its target price hoisted by Morgan Stanley from $73.00 to $80.00 in a report published on Monday,Benzinga reports. The brokerage currently has an overweight rating on the bank’s stock.

A number of other research firms also recently commented on CFG. Truist Financial increased their target price on Citizens Financial Group from $63.00 to $71.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Robert W. Baird restated a “neutral” rating and set a $60.00 price objective on shares of Citizens Financial Group in a research note on Thursday, December 11th. Barclays set a $77.00 target price on shares of Citizens Financial Group and gave the company an “overweight” rating in a research note on Monday, January 5th. DA Davidson raised their price target on shares of Citizens Financial Group from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, New Street Research set a $73.00 price objective on shares of Citizens Financial Group in a research report on Thursday, January 22nd. Nineteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.73.

Citizens Financial Group Price Performance

CFG opened at $60.17 on Monday. The company has a market capitalization of $25.57 billion, a P/E ratio of 15.55, a PEG ratio of 0.49 and a beta of 0.70. The company has a 50-day moving average of $62.57 and a 200-day moving average of $56.23. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.84 and a current ratio of 0.85. Citizens Financial Group has a 1-year low of $32.60 and a 1-year high of $68.79.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, January 21st. The bank reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.02. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Citizens Financial Group had a return on equity of 7.81% and a net margin of 15.19%.The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $0.85 earnings per share. Equities analysts expect that Citizens Financial Group will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th were given a $0.46 dividend. The ex-dividend date was Wednesday, February 4th. This represents a $1.84 annualized dividend and a yield of 3.1%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 47.55%.

Institutional Investors Weigh In On Citizens Financial Group

Several large investors have recently made changes to their positions in CFG. Vanguard Group Inc. grew its holdings in Citizens Financial Group by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 51,548,977 shares of the bank’s stock worth $2,306,817,000 after buying an additional 209,467 shares in the last quarter. Capital World Investors increased its holdings in shares of Citizens Financial Group by 1.7% during the third quarter. Capital World Investors now owns 37,289,711 shares of the bank’s stock valued at $1,982,532,000 after purchasing an additional 614,181 shares during the period. Invesco Ltd. raised its stake in shares of Citizens Financial Group by 1.7% during the third quarter. Invesco Ltd. now owns 24,064,513 shares of the bank’s stock valued at $1,279,270,000 after purchasing an additional 393,158 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Citizens Financial Group by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 11,361,142 shares of the bank’s stock valued at $661,052,000 after purchasing an additional 32,264 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in Citizens Financial Group by 2.7% in the fourth quarter. Morgan Stanley now owns 11,217,975 shares of the bank’s stock worth $655,242,000 after purchasing an additional 298,779 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

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.