Citizens Financial Group (NYSE:CFG) Price Target Raised to $84.00

Citizens Financial Group (NYSE:CFG) had its target price boosted by Citigroup from $78.00 to $84.00 in a research report released on Monday morning, MarketBeat Ratings reports. Citigroup currently has a buy rating on the bank’s stock.

CFG has been the subject of several other reports. DA Davidson increased their price objective on shares of Citizens Financial Group from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Keefe, Bruyette & Woods boosted their target price on shares of Citizens Financial Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Cantor Fitzgerald upped their price target on shares of Citizens Financial Group from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. UBS Group raised their price target on shares of Citizens Financial Group from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Finally, Jefferies Financial Group lifted their price objective on shares of Citizens Financial Group from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $78.55.

Citizens Financial Group Trading Up 0.6%

Shares of NYSE:CFG opened at $72.44 on Monday. The business’s 50-day moving average is $67.05 and its 200 day moving average is $63.91. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85. Citizens Financial Group has a 1 year low of $45.90 and a 1 year high of $74.70. The firm has a market capitalization of $30.63 billion, a P/E ratio of 15.71, a P/E/G ratio of 0.55 and a beta of 0.67.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.05. Citizens Financial Group had a return on equity of 8.85% and a net margin of 17.18%.The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter last year, the company earned $0.92 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. On average, research analysts predict that Citizens Financial Group will post 5.29 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Thursday, July 30th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.5%. Citizens Financial Group’s payout ratio is 39.91%.

Insider Buying and Selling

In related news, insider Michelle Moosally sold 6,050 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total value of $376,068.00. Following the sale, the insider owned 22,565 shares in the company, valued at $1,402,640.40. This represents a 21.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.67% of the stock is currently owned by corporate insiders.

Institutional Trading of Citizens Financial Group

Several large investors have recently made changes to their positions in CFG. Ballast Inc. acquired a new stake in shares of Citizens Financial Group in the second quarter worth $322,000. Tema ETFs LLC raised its holdings in shares of Citizens Financial Group by 9.4% during the second quarter. Tema ETFs LLC now owns 8,425 shares of the bank’s stock worth $590,000 after purchasing an additional 725 shares during the last quarter. Everhart Financial Group Inc. lifted its position in Citizens Financial Group by 6.8% during the second quarter. Everhart Financial Group Inc. now owns 23,279 shares of the bank’s stock valued at $1,631,000 after purchasing an additional 1,487 shares during the period. Everpar Advisors LLC acquired a new position in Citizens Financial Group during the second quarter valued at $211,000. Finally, Valeo Financial Advisors LLC boosted its holdings in Citizens Financial Group by 11.0% in the second quarter. Valeo Financial Advisors LLC now owns 3,918 shares of the bank’s stock valued at $275,000 after purchasing an additional 387 shares during the last quarter. 94.90% of the stock is owned by hedge funds and other 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.