Evercore ISI Cuts Citizens Financial Group (NYSE:CFG) Price Target to $46.00

Citizens Financial Group (NYSE:CFG) had its target price lowered by Evercore ISI from $47.00 to $46.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has an in-line rating on the bank’s stock.

A number of other equities analysts also recently issued reports on CFG. UBS Group increased their price target on shares of Citizens Financial Group from $42.00 to $46.00 and gave the company a buy rating in a report on Thursday, July 18th. Raymond James initiated coverage on shares of Citizens Financial Group in a report on Thursday, July 11th. They issued a market perform rating for the company. DA Davidson boosted their price target on Citizens Financial Group from $41.00 to $46.00 and gave the stock a buy rating in a research note on Thursday, July 18th. Stephens raised their price objective on Citizens Financial Group from $40.00 to $42.00 and gave the company an overweight rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada boosted their target price on Citizens Financial Group from $35.00 to $43.00 and gave the stock an outperform rating in a research report on Thursday, July 18th. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Citizens Financial Group has an average rating of Hold and a consensus price target of $43.07.

Citizens Financial Group Price Performance

Shares of CFG opened at $41.18 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60. The stock’s 50 day moving average is $40.97 and its two-hundred day moving average is $37.58. Citizens Financial Group has a twelve month low of $22.77 and a twelve month high of $43.96. The firm has a market capitalization of $18.74 billion, a PE ratio of 14.92, a P/E/G ratio of 1.43 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 earnings per share. Research analysts anticipate that Citizens Financial Group will post 3.24 earnings per share for the current year.

Citizens Financial Group Announces Dividend

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

Insider Activity

In related news, insider Craig Jack Read sold 3,938 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 33,620 shares in the company, valued at approximately $1,454,401.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.62% of the company’s stock.

Hedge Funds Weigh In On Citizens Financial Group

Several large investors have recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new position in Citizens Financial Group during the second quarter worth approximately $25,000. Versant Capital Management Inc increased its holdings in Citizens Financial Group by 262.8% in the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after purchasing an additional 678 shares in the last quarter. Private Ocean LLC raised its position in Citizens Financial Group by 484.4% in the second quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock valued at $36,000 after purchasing an additional 838 shares during the period. Quarry LP lifted its stake in shares of Citizens Financial Group by 183.1% during the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after purchasing an additional 714 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in shares of Citizens Financial Group in the second quarter worth about $48,000. 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.