Keefe, Bruyette & Woods Cuts Citizens Financial Group (NYSE:CFG) Price Target to $45.00

Citizens Financial Group (NYSE:CFG) had its target price lowered by Keefe, Bruyette & Woods from $49.00 to $45.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a market perform rating on the bank’s stock.

A number of other research analysts also recently commented on CFG. Citigroup dropped their target price on shares of Citizens Financial Group from $58.00 to $51.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Truist Financial reduced their target price on Citizens Financial Group from $54.00 to $51.00 and set a “hold” rating for the company in a report on Friday, March 21st. Barclays raised their price target on Citizens Financial Group from $47.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. reduced their price objective on Citizens Financial Group from $49.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Finally, Morgan Stanley lowered their target price on shares of Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Eight equities 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.82.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $35.43 on Thursday. The company has a market cap of $15.49 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 0.81 and a beta of 0.81. The company has a fifty day simple moving average of $40.88 and a two-hundred day simple moving average of $43.61. Citizens Financial Group has a 52 week low of $32.60 and a 52 week high of $49.25. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Wednesday, April 16th. The bank reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. As a group, equities analysts anticipate that Citizens Financial Group will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.74%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 53.33%.

Institutional Investors Weigh In On Citizens Financial Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Great Valley Advisor Group Inc. increased its holdings in Citizens Financial Group by 0.6% in the fourth quarter. Great Valley Advisor Group Inc. now owns 39,766 shares of the bank’s stock valued at $1,740,000 after buying an additional 224 shares in the last quarter. My Legacy Advisors LLC increased its stake in Citizens Financial Group by 1.0% in the 4th quarter. My Legacy Advisors LLC now owns 22,810 shares of the bank’s stock valued at $1,074,000 after purchasing an additional 229 shares in the last quarter. Brooklyn Investment Group increased its stake in Citizens Financial Group by 3.3% in the 4th quarter. Brooklyn Investment Group now owns 7,304 shares of the bank’s stock valued at $320,000 after purchasing an additional 233 shares in the last quarter. 1620 Investment Advisors Inc. raised its holdings in Citizens Financial Group by 3.2% during the fourth quarter. 1620 Investment Advisors Inc. now owns 7,713 shares of the bank’s stock worth $338,000 after purchasing an additional 238 shares during the last quarter. Finally, SeaCrest Wealth Management LLC boosted its position in Citizens Financial Group by 0.9% during the fourth quarter. SeaCrest Wealth Management LLC now owns 28,726 shares of the bank’s stock worth $1,257,000 after purchasing an additional 246 shares in the last quarter. Institutional investors and hedge funds 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.