Citizens Financial Group (NYSE:CFG) Coverage Initiated by Analysts at Raymond James

Raymond James began coverage on shares of Citizens Financial Group (NYSE:CFG) in a research report report published on Thursday morning, MarketBeat Ratings reports. The firm issued a market perform rating on the bank’s stock.

A number of other brokerages have also recently commented on CFG. Morgan Stanley reiterated an equal weight rating and issued a $38.00 price target on shares of Citizens Financial Group in a research report on Wednesday, June 12th. StockNews.com raised shares of Citizens Financial Group from a sell rating to a hold rating in a report on Sunday, May 5th. JPMorgan Chase & Co. lowered their target price on shares of Citizens Financial Group from $36.50 to $36.00 and set a neutral rating on the stock in a report on Wednesday, May 1st. Jefferies Financial Group raised their target price on shares of Citizens Financial Group from $36.00 to $37.00 and gave the company a hold rating in a research note on Wednesday, July 3rd. Finally, Evercore ISI increased their price objective on shares of Citizens Financial Group from $38.00 to $39.00 and gave the company an in-line rating in a report on Tuesday, June 25th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $37.80.

Citizens Financial Group Price Performance

CFG stock opened at $38.20 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87. Citizens Financial Group has a 1-year low of $22.77 and a 1-year high of $38.37. The stock has a market capitalization of $17.38 billion, a P/E ratio of 13.84, a P/E/G ratio of 1.44 and a beta of 1.10. The business has a fifty day moving average price of $35.45 and a 200-day moving average price of $34.02.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.10). The company 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%. Citizens Financial Group’s revenue was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.00 EPS. Equities analysts forecast that Citizens Financial Group will post 3.2 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend was Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio is presently 60.87%.

Insider Buying and Selling

In related news, insider Craig Jack Read sold 6,327 shares of the stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $33.70, for a total value of $213,219.90. Following the transaction, the insider now owns 37,558 shares in the company, valued at approximately $1,265,704.60. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Citizens Financial Group

Large investors have recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Citizens Financial Group by 3.9% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 8,046 shares of the bank’s stock worth $292,000 after acquiring an additional 305 shares during the last quarter. Czech National Bank boosted its stake in Citizens Financial Group by 0.5% during the 1st quarter. Czech National Bank now owns 82,032 shares of the bank’s stock worth $2,977,000 after purchasing an additional 375 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of Citizens Financial Group by 0.4% during the first quarter. Texas Permanent School Fund Corp now owns 96,350 shares of the bank’s stock worth $3,497,000 after buying an additional 382 shares in the last quarter. Bleakley Financial Group LLC raised its position in shares of Citizens Financial Group by 3.6% in the first quarter. Bleakley Financial Group LLC now owns 11,027 shares of the bank’s stock valued at $400,000 after buying an additional 385 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in shares of Citizens Financial Group by 1.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 21,343 shares of the bank’s stock worth $707,000 after buying an additional 393 shares in the last quarter. 94.90% of the stock is currently owned by hedge funds and other 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.