Analysts Set Citizens Financial Group, Inc. (CFG) PT at $36.54
Citizens Financial Group, Inc. (NYSE:CFG) has received a consensus rating of “Hold” from the eighteen ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $36.54.
CFG has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Citizens Financial Group from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Tuesday, July 4th. Deutsche Bank AG restated a “hold” rating on shares of Citizens Financial Group in a report on Wednesday, July 5th. BidaskClub downgraded Citizens Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Wedbush upgraded Citizens Financial Group from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $39.00 to $41.00 in a report on Monday, May 1st. Finally, Macquarie initiated coverage on Citizens Financial Group in a report on Thursday, May 18th. They set an “underperform” rating and a $33.00 price objective for the company.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Citizens Financial Group by 1,533.4% in the first quarter. BlackRock Inc. now owns 42,692,103 shares of the bank’s stock valued at $1,475,015,000 after buying an additional 40,078,389 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Citizens Financial Group by 2,682.0% in the second quarter. Janus Henderson Group PLC now owns 8,138,852 shares of the bank’s stock valued at $290,393,000 after buying an additional 7,846,303 shares in the last quarter. Janus Capital Management LLC increased its stake in shares of Citizens Financial Group by 2,490.8% in the first quarter. Janus Capital Management LLC now owns 4,632,828 shares of the bank’s stock valued at $160,064,000 after buying an additional 4,454,009 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Citizens Financial Group by 199.3% in the second quarter. Voya Investment Management LLC now owns 5,276,361 shares of the bank’s stock valued at $188,261,000 after buying an additional 3,513,196 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Citizens Financial Group by 16,695.7% in the second quarter. Lazard Asset Management LLC now owns 2,779,356 shares of the bank’s stock valued at $99,167,000 after buying an additional 2,762,808 shares in the last quarter. Hedge funds and other institutional investors own 96.86% of the company’s stock.
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Shares of Citizens Financial Group (NYSE:CFG) traded down 0.44% during midday trading on Tuesday, hitting $33.85. The company’s stock had a trading volume of 2,763,622 shares. The firm has a market cap of $16.95 billion, a price-to-earnings ratio of 14.45 and a beta of 1.31. Citizens Financial Group has a 12-month low of $23.81 and a 12-month high of $39.75. The firm has a 50-day moving average of $34.96 and a 200 day moving average of $35.70.
Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.40 billion. Citizens Financial Group had a return on equity of 6.08% and a net margin of 19.86%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.46 EPS. On average, equities research analysts predict that Citizens Financial Group will post $2.53 EPS for the current fiscal year.
Citizens Financial Group announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $850.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Investors of record on Wednesday, August 2nd were issued a $0.18 dividend. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.14. This represents a $0.72 annualized dividend and a yield of 2.13%. The ex-dividend date was Monday, July 31st. Citizens Financial Group’s dividend payout ratio is currently 30.64%.
Citizens Financial Group Company Profile
Citizens Financial Group, Inc is a retail bank holding company. The Company operates through two segments: Consumer Banking and Commercial Banking. Its Consumer Banking serves retail customers and small businesses. Consumer Banking products and services include deposit products, mortgage and home equity lending, auto financing, student loans, personal unsecured lines and loans, credit cards, business loans, wealth management and investment services.
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