Citizens Financial Group, Inc. (NYSE:CFG) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Citizens Financial Group, Inc. (NYSE:CFG) have received an average rating of “Moderate Buy” from the twenty research firms that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $78.55.

A number of research firms have recently issued reports on CFG. Stephens upped their price objective on Citizens Financial Group from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Truist Financial boosted their target price on Citizens Financial Group from $72.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. upped their target price on Citizens Financial Group from $68.50 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Barclays increased their price target on shares of Citizens Financial Group from $77.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Citizens Financial Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th.

Insider Activity at Citizens Financial Group

In related news, insider Michelle Moosally sold 6,050 shares of Citizens Financial Group stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total value of $376,068.00. Following the transaction, the insider owned 22,565 shares in the company, valued at $1,402,640.40. This trade represents a 21.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.67% of the company’s stock.

Institutional Trading of Citizens Financial Group

Several hedge funds have recently added to or reduced their stakes in the business. Ballast Inc. bought a new position in shares of Citizens Financial Group during the second quarter valued at about $322,000. Tema ETFs LLC lifted its stake in shares of Citizens Financial Group by 9.4% in the 2nd quarter. Tema ETFs LLC now owns 8,425 shares of the bank’s stock valued at $590,000 after acquiring an additional 725 shares during the last quarter. Everhart Financial Group Inc. lifted its stake in shares of Citizens Financial Group by 6.8% in the 2nd quarter. Everhart Financial Group Inc. now owns 23,279 shares of the bank’s stock valued at $1,631,000 after acquiring an additional 1,487 shares during the last quarter. Everpar Advisors LLC purchased a new stake in Citizens Financial Group during the 2nd quarter valued at about $211,000. Finally, Valeo Financial Advisors LLC boosted its holdings in Citizens Financial Group by 11.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,918 shares of the bank’s stock valued at $275,000 after acquiring an additional 387 shares during the period. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group Stock Down 1.0%

Shares of NYSE:CFG opened at $71.14 on Thursday. Citizens Financial Group has a 52-week low of $45.90 and a 52-week high of $74.70. The firm has a fifty day moving average of $67.68 and a 200 day moving average of $64.13. The firm has a market capitalization of $30.08 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 0.55 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.86.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter last year, the business posted $0.92 earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, research analysts anticipate that Citizens Financial Group will post 5.3 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th will be paid a $0.46 dividend. 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 2.6%. Citizens Financial Group’s dividend payout ratio is 39.91%.

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.