Citizens Financial Group Inc. (CFG) Downgraded to “Neutral” at Piper Jaffray Cos.
Piper Jaffray Cos. cut shares of Citizens Financial Group Inc. (NYSE:CFG) from an overweight rating to a neutral rating in a research note published on Wednesday morning. Piper Jaffray Cos. currently has $32.00 target price on the stock, up from their prior target price of $30.00.
A number of other research analysts have also weighed in on CFG. Oppenheimer Holdings Inc. set a $25.00 price objective on Citizens Financial Group and gave the stock a buy rating in a report on Friday, October 21st. Zacks Investment Research lowered Citizens Financial Group from a buy rating to a hold rating in a report on Friday, November 11th. Wedbush upped their target price on Citizens Financial Group from $29.00 to $30.00 and gave the company an outperform rating in a report on Monday, October 24th. Citigroup Inc. lowered Citizens Financial Group from a buy rating to a neutral rating in a report on Tuesday, November 8th. Finally, Sandler O’Neill lowered Citizens Financial Group from a buy rating to a hold rating and set a $31.00 target price on the stock. in a report on Monday. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Citizens Financial Group currently has an average rating of Hold and an average price target of $28.86.
Shares of Citizens Financial Group (NYSE:CFG) traded up 2.38% during mid-day trading on Wednesday, hitting $31.46. The company had a trading volume of 2,985,420 shares. The company has a market cap of $16.30 billion, a PE ratio of 17.10 and a beta of 1.10. The firm has a 50-day moving average of $26.39 and a 200-day moving average of $23.56. Citizens Financial Group has a 12 month low of $18.04 and a 12 month high of $31.49.
Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Friday, October 21st. The company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.03. Citizens Financial Group had a return on equity of 4.88% and a net margin of 17.53%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. Citizens Financial Group’s quarterly revenue was up 14.1% on a year-over-year basis. On average, analysts expect that Citizens Financial Group will post $1.93 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 16th. Shareholders of record on Wednesday, November 2nd were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, October 31st. This represents a $0.48 annualized dividend and a yield of 1.56%. Citizens Financial Group’s dividend payout ratio is presently 25.95%.
A number of large investors have recently made changes to their positions in the company. Capital Analysts LLC raised its stake in Citizens Financial Group by 2,002.7% in the second quarter. Capital Analysts LLC now owns 1,535 shares of the company’s stock worth $111,000 after buying an additional 1,462 shares during the period. Virtus Investment Advisers Inc. bought a new stake in Citizens Financial Group during the third quarter worth about $106,000. Global X Management Co. LLC raised its stake in Citizens Financial Group by 148.3% in the third quarter. Global X Management Co. LLC now owns 4,711 shares of the company’s stock worth $116,000 after buying an additional 2,814 shares during the period. Tower Research Capital LLC TRC raised its stake in Citizens Financial Group by 927.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,239 shares of the company’s stock worth $105,000 after buying an additional 4,729 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Citizens Financial Group during the second quarter worth about $110,000. Institutional investors own 98.59% of the company’s stock.
About Citizens Financial Group
Citizens Financial Group, Inc is a retail bank holding company in the United States. The Company offers a range of retail and commercial banking products and services to individuals, institutions and companies. The Company operates in two segments: Consumer Banking and Commercial Banking. The Company’s Consumer Banking serves retail customers and small businesses.
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