Citizens Financial Group (NYSE:CFG) Price Target Cut to $46.00 by Analysts at Evercore ISI

Citizens Financial Group (NYSE:CFG) had its target price cut by Evercore ISI from $47.00 to $46.00 in a report released on Wednesday, Benzinga reports. They currently have an in-line rating on the bank’s stock.

Several other equities research analysts have also issued reports on CFG. Jefferies Financial Group lifted their price target on Citizens Financial Group from $36.00 to $37.00 and gave the company a hold rating in a report on Wednesday, July 3rd. Morgan Stanley boosted their target price on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an equal weight rating in a research report on Monday, August 5th. Royal Bank of Canada raised their price target on shares of Citizens Financial Group from $35.00 to $43.00 and gave the company an outperform rating in a report on Thursday, July 18th. Raymond James began coverage on shares of Citizens Financial Group in a research note on Thursday, July 11th. They issued a market perform rating for the company. Finally, Stephens increased their target price on shares of Citizens Financial Group from $40.00 to $42.00 and gave the stock an overweight rating in a research report on Friday, July 19th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $43.07.

Citizens Financial Group Stock Up 2.9 %

CFG stock opened at $41.18 on Wednesday. The company has a 50 day moving average of $40.97 and a two-hundred day moving average of $37.61. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. Citizens Financial Group has a 12-month low of $22.77 and a 12-month high of $43.96. The company has a market cap of $18.74 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 1.43 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, July 17th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.01). Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the prior year, the business posted $0.92 earnings per share. Citizens Financial Group’s revenue was down 6.3% on a year-over-year basis. On average, equities analysts anticipate that Citizens Financial Group will post 3.24 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.08%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 60.87%.

Insider Transactions at Citizens Financial Group

In related news, insider Craig Jack Read sold 3,938 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total transaction of $170,357.88. Following the completion of the transaction, the insider now directly owns 33,620 shares in the company, valued at $1,454,401.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.62% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Citizens Financial Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in CFG. Handelsbanken Fonder AB grew its holdings in shares of Citizens Financial Group by 36.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 74,600 shares of the bank’s stock worth $3,064,000 after purchasing an additional 19,954 shares in the last quarter. Czech National Bank lifted its position in Citizens Financial Group by 5.3% in the third quarter. Czech National Bank now owns 91,323 shares of the bank’s stock worth $3,751,000 after purchasing an additional 4,614 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Citizens Financial Group by 2,109.3% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 386,634 shares of the bank’s stock worth $13,930,000 after purchasing an additional 369,134 shares during the period. Sanctuary Advisors LLC acquired a new stake in Citizens Financial Group during the second quarter worth $1,429,000. Finally, Cetera Investment Advisers increased its holdings in Citizens Financial Group by 4.7% in the 2nd quarter. Cetera Investment Advisers now owns 134,855 shares of the bank’s stock valued at $4,859,000 after buying an additional 6,003 shares during the period. 94.90% of the stock is currently owned by institutional investors.

Citizens Financial Group Company Profile

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.