Citizens Financial Group (NYSE:CFG) Price Target Cut to $36.00 by Analysts at JPMorgan Chase & Co.

Citizens Financial Group (NYSE:CFG) had its price target lowered by JPMorgan Chase & Co. from $36.50 to $36.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

A number of other research firms also recently weighed in on CFG. Citigroup raised their price target on shares of Citizens Financial Group from $39.00 to $43.00 and gave the company a buy rating in a report on Friday, April 19th. Argus lifted their target price on shares of Citizens Financial Group from $36.00 to $39.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Jefferies Financial Group lifted their target price on shares of Citizens Financial Group from $35.00 to $36.00 and gave the stock a hold rating in a report on Monday, April 8th. UBS Group lifted their target price on shares of Citizens Financial Group from $37.00 to $38.00 and gave the stock a buy rating in a report on Thursday, January 18th. Finally, Piper Sandler upgraded shares of Citizens Financial Group from a neutral rating to an overweight rating and lifted their target price for the stock from $35.00 to $41.00 in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Citizens Financial Group presently has a consensus rating of Hold and an average price target of $37.73.

Citizens Financial Group Stock Up 1.7 %

Citizens Financial Group stock opened at $34.70 on Wednesday. The company has a market capitalization of $15.91 billion, a P/E ratio of 12.57 and a beta of 1.38. The firm’s fifty day simple moving average is $33.87 and its 200-day simple moving average is $31.15. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.63. Citizens Financial Group has a 1-year low of $22.77 and a 1-year high of $36.38.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.96 billion. Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The firm’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.00 EPS. Sell-side analysts forecast that Citizens Financial Group will post 3.24 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.68 annualized dividend and a yield of 4.84%. Citizens Financial Group’s dividend payout ratio is 60.87%.

Insider Activity

In other news, insider Craig Jack Read sold 4,508 shares of Citizens Financial Group stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $33.54, for a total transaction of $151,198.32. Following the sale, the insider now directly owns 43,885 shares in the company, valued at approximately $1,471,902.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.62% of the stock is owned by company insiders.

Institutional Trading of Citizens Financial Group

Several institutional investors have recently made changes to their positions in the business. Capital International Investors boosted its position in shares of Citizens Financial Group by 3.5% during the 4th quarter. Capital International Investors now owns 35,157,079 shares of the bank’s stock valued at $1,165,106,000 after acquiring an additional 1,199,158 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in Citizens Financial Group by 5.7% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 11,594,481 shares of the bank’s stock valued at $310,732,000 after buying an additional 621,715 shares in the last quarter. Wellington Management Group LLP boosted its position in Citizens Financial Group by 217.5% in the third quarter. Wellington Management Group LLP now owns 7,978,410 shares of the bank’s stock valued at $213,821,000 after buying an additional 5,465,824 shares in the last quarter. LSV Asset Management boosted its position in Citizens Financial Group by 1.5% in the fourth quarter. LSV Asset Management now owns 6,504,591 shares of the bank’s stock valued at $215,562,000 after buying an additional 95,292 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in Citizens Financial Group by 6.4% in the third quarter. Royal Bank of Canada now owns 5,532,398 shares of the bank’s stock valued at $148,268,000 after buying an additional 332,222 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

About Citizens Financial Group

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.