Citizens Financial Group (NYSE:CFG) Research Coverage Started at TD Cowen

TD Cowen began coverage on shares of Citizens Financial Group (NYSE:CFG) in a report issued on Thursday morning, MarketBeat reports. The firm issued a buy rating and a $75.00 price target on the bank’s stock.

Several other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating for the company in a research report on Friday, October 2nd. UBS Group cut their price objective on shares of Citizens Financial Group from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Morgan Stanley reduced their target price on shares of Citizens Financial Group from $90.00 to $89.00 and set an “overweight” rating for the company in a research note on Monday, September 28th. Barclays increased their target price on Citizens Financial Group from $77.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Citizens Financial Group in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Citizens Financial Group has an average rating of “Moderate Buy” and a consensus target price of $79.38.

Citizens Financial Group Trading Down 0.8%

NYSE:CFG opened at $63.58 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85. The business’s 50-day simple moving average is $69.00 and its 200-day simple moving average is $66.88. Citizens Financial Group has a fifty-two week low of $47.96 and a fifty-two week high of $75.33. The stock has a market capitalization of $26.78 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 0.58 and a beta of 0.72.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Thursday, July 16th. The bank reported $1.30 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the prior year, the business earned $0.92 EPS. Citizens Financial Group’s revenue for the quarter was up 12.1% compared to the same quarter last year. Sell-side analysts expect that Citizens Financial Group will post 5.29 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, July 30th were issued a dividend of $0.46 per share. The ex-dividend date was Thursday, July 30th. This represents a $1.84 annualized dividend and a yield of 2.9%. Citizens Financial Group’s dividend payout ratio is presently 39.91%.

Insiders Place Their Bets

In related news, CEO Bruce Van Saun sold 129,369 shares of the firm’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $72.07, for a total value of $9,323,623.83. Following the completion of the transaction, the chief executive officer owned 1,140,763 shares of the company’s stock, valued at approximately $82,214,789.41. This trade represents a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On Citizens Financial Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its position in Citizens Financial Group by 2.9% during the fourth quarter. Parallel Advisors LLC now owns 6,078 shares of the bank’s stock worth $355,000 after purchasing an additional 172 shares during the period. Cookson Peirce & Co. Inc. grew its stake in Citizens Financial Group by 0.3% during the second quarter. Cookson Peirce & Co. Inc. now owns 56,309 shares of the bank’s stock valued at $3,946,000 after acquiring an additional 174 shares in the last quarter. Trustmark Bank Trust Department increased its holdings in Citizens Financial Group by 4.9% during the 2nd quarter. Trustmark Bank Trust Department now owns 4,278 shares of the bank’s stock worth $300,000 after acquiring an additional 198 shares during the period. GoalVest Advisory LLC increased its holdings in Citizens Financial Group by 29.9% during the 3rd quarter. GoalVest Advisory LLC now owns 883 shares of the bank’s stock worth $56,000 after acquiring an additional 203 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its holdings in Citizens Financial Group by 0.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 64,323 shares of the bank’s stock valued at $3,757,000 after purchasing an additional 220 shares during the period. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group News Roundup

Here are the key news stories impacting Citizens Financial Group this week:

• Positive Sentiment: Analyst upgrades and price target support the stock. Raymond James upgraded CFG to “strong buy,” while TD Cowen initiated coverage with a “buy” rating and a $75 price target—approximately 18% above the recently cited share price. These actions suggest some analysts see upside ahead. Citizens Financial Group Raised to Strong-Buy at Raymond James
• Positive Sentiment: Wall Street expects earnings growth. CFG is included among financial stocks expected to post substantial earnings gains, potentially benefiting from the impact of higher interest rates on bank results. Financial Stocks Earnings Growth
• Positive Sentiment: Preferred-share redemption streamlines capital. CFG redeemed all outstanding Series G preferred shares, a move that may simplify its capital structure and could improve the efficiency of its funding base. Citizens Financial Redeems Series G Preferred
• Neutral Sentiment: The earnings release is the main near-term catalyst. Investors are preparing for the October 16 report, with recent analyst forecast changes likely to influence trading before and after the announcement. Citizens Financial Q3 Forecast Changes
• Negative Sentiment: A potential earnings beat appears less certain. Zacks said CFG does not currently have the preferred combination of factors that typically support an earnings surprise. That caution may be pressuring the stock despite expectations for year-over-year earnings growth. Citizens Financial Group Earnings Expectations

About Citizens Financial Group

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to individuals, families, businesses and institutions through branches, digital channels and other delivery platforms.

The company’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, credit cards, personal loans and other lending products. Through its commercial banking operations, Citizens provides business loans, commercial real estate financing, treasury management, capital markets services and other solutions for companies and institutional clients.