Barclays Cuts Citizens Financial Group (NYSE:CFG) Price Target to $54.00

Citizens Financial Group (NYSE:CFGGet Rating) had its price target trimmed by Barclays from $62.00 to $54.00 in a report released on Wednesday, The Fly reports. The brokerage currently has an overweight rating on the bank’s stock.

Several other analysts have also commented on the stock. Jefferies Financial Group decreased their price target on shares of Citizens Financial Group from $46.00 to $40.00 and set a hold rating for the company in a research report on Monday, July 11th. Stephens decreased their price target on shares of Citizens Financial Group from $59.00 to $48.00 and set an overweight rating for the company in a research report on Monday, June 13th. UBS Group raised shares of Citizens Financial Group from a neutral rating to a buy rating and increased their price objective for the company from $48.00 to $54.00 in a research report on Monday, May 16th. The Goldman Sachs Group decreased their price objective on shares of Citizens Financial Group from $60.00 to $49.00 and set a buy rating for the company in a research report on Tuesday, May 31st. Finally, Wolfe Research decreased their price objective on shares of Citizens Financial Group from $48.00 to $33.00 and set an underperform rating for the company in a research report on Thursday, May 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $48.33.

Citizens Financial Group Stock Down 1.0 %

NYSE:CFG opened at $37.17 on Wednesday. Citizens Financial Group has a 1-year low of $34.35 and a 1-year high of $57.00. The company has a 50-day moving average of $37.54 and a 200 day moving average of $44.36. The firm has a market cap of $18.42 billion, a PE ratio of 9.41 and a beta of 1.45. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.90 and a quick ratio of 0.88.

Citizens Financial Group (NYSE:CFGGet Rating) last released its quarterly earnings data on Tuesday, July 19th. The bank reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.35). Citizens Financial Group had a return on equity of 10.26% and a net margin of 25.04%. During the same quarter in the previous year, the business earned $1.46 earnings per share. As a group, research analysts anticipate that Citizens Financial Group will post 4.38 EPS for the current fiscal year.

Citizens Financial Group declared that its board has initiated a share repurchase program on Monday, June 27th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the bank to purchase up to 5.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Citizens Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 16th. Shareholders of record on Tuesday, August 2nd will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, August 1st. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.39. This represents a $1.68 dividend on an annualized basis and a yield of 4.52%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 39.49%.

Insiders Place Their Bets

In other news, Director Terrance Lillis acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, April 26th. The shares were acquired at an average price of $41.31 per share, with a total value of $41,310.00. Following the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at $82,620. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Citizens Financial Group

A number of hedge funds and other institutional investors have recently made changes to their positions in CFG. CVA Family Office LLC grew its stake in Citizens Financial Group by 655.0% in the 2nd quarter. CVA Family Office LLC now owns 755 shares of the bank’s stock valued at $27,000 after acquiring an additional 655 shares during the period. Raleigh Capital Management Inc. acquired a new stake in Citizens Financial Group in the 1st quarter valued at $31,000. American Research & Management Co. grew its stake in Citizens Financial Group by 605.6% in the 2nd quarter. American Research & Management Co. now owns 882 shares of the bank’s stock valued at $31,000 after acquiring an additional 757 shares during the period. Carolinas Wealth Consulting LLC grew its stake in Citizens Financial Group by 37.4% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 772 shares of the bank’s stock valued at $36,000 after acquiring an additional 210 shares during the period. Finally, Mystic Asset Management Inc. acquired a new stake in Citizens Financial Group in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 94.81% of the company’s stock.

Citizens Financial Group Company Profile

(Get Rating)

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association 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.

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