Citizens Financial Group (NYSE:CFG) Given “Strong-Buy” Rating at Raymond James

Raymond James reissued their strong-buy rating on shares of Citizens Financial Group (NYSE:CFG) in a research report released on Tuesday morning,Benzinga reports. The firm currently has a $58.00 target price on the bank’s stock, up from their prior target price of $55.00.

Several other equities analysts have also issued reports on CFG. Piper Sandler raised their price target on Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Barclays raised their price target on shares of Citizens Financial Group from $47.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Compass Point increased their target price on shares of Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Citigroup raised their target price on Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Royal Bank of Canada upped their price target on Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.00.

Citizens Financial Group Stock Up 0.7 %

Shares of NYSE CFG opened at $47.36 on Tuesday. The stock has a market capitalization of $20.87 billion, a P/E ratio of 15.63, a PEG ratio of 0.84 and a beta of 1.10. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. Citizens Financial Group has a one year low of $30.24 and a one year high of $49.25. The firm’s 50 day simple moving average is $45.71 and its two-hundred day simple moving average is $42.91.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, January 17th. The bank reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1,962,330 billion. During the same quarter last year, the company earned $0.85 EPS. The firm’s revenue was down .1% compared to the same quarter last year. As a group, analysts expect that Citizens Financial Group will post 3.95 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.42 dividend. The ex-dividend date is Friday, January 31st. This represents a $1.68 annualized dividend and a dividend yield of 3.55%. Citizens Financial Group’s payout ratio is 55.45%.

Institutional Investors Weigh In On Citizens Financial Group

Several hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP increased its stake in shares of Citizens Financial Group by 207.2% during the third quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock valued at $339,733,000 after purchasing an additional 5,579,313 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Citizens Financial Group by 61.4% in the 2nd quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock worth $155,909,000 after buying an additional 1,682,886 shares during the last quarter. State Street Corp increased its position in Citizens Financial Group by 6.7% during the 3rd quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock valued at $1,060,689,000 after buying an additional 1,615,144 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Citizens Financial Group by 85.6% during the third quarter. Assenagon Asset Management S.A. now owns 2,043,650 shares of the bank’s stock valued at $83,933,000 after buying an additional 942,662 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in Citizens Financial Group by 51.1% in the third quarter. Bank of Montreal Can now owns 2,644,542 shares of the bank’s stock worth $107,897,000 after acquiring an additional 894,322 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

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.