Piper Sandler Cuts Citizens Financial Group (NYSE:CFG) Price Target to $43.00

Citizens Financial Group (NYSE:CFG) had its target price trimmed by Piper Sandler from $48.00 to $43.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the bank’s stock.

Other research analysts also recently issued reports about the stock. Raymond James restated a “strong-buy” rating and issued a $58.00 price target (up from $55.00) on shares of Citizens Financial Group in a research report on Tuesday, January 21st. Citigroup cut 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 report on Monday, March 24th. Barclays lowered their target price on Citizens Financial Group from $52.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday. Morgan Stanley cut their price target on Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. lowered 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. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.82.

Citizens Financial Group Price Performance

CFG opened at $35.43 on Thursday. The company has a market capitalization of $15.49 billion, a P/E ratio of 11.69, a PEG ratio of 0.81 and a beta of 0.81. The company has a 50-day moving average of $40.88 and a 200-day moving average of $43.61. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. Citizens Financial Group has a 1-year low of $32.60 and a 1-year high of $49.25.

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

Citizens Financial Group Dividend Announcement

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

Institutional Trading of Citizens Financial Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NBT Bank N A NY bought a new position in shares of Citizens Financial Group in the first quarter valued at $45,000. Grove Bank & Trust grew its holdings in shares of Citizens Financial Group by 97.1% in the 1st quarter. Grove Bank & Trust now owns 678 shares of the bank’s stock worth $28,000 after acquiring an additional 334 shares during the last quarter. Asio Capital LLC raised its position in shares of Citizens Financial Group by 2.3% during the first quarter. Asio Capital LLC now owns 103,879 shares of the bank’s stock worth $4,256,000 after purchasing an additional 2,338 shares during the period. Brighton Jones LLC purchased a new stake in shares of Citizens Financial Group during the first quarter valued at $213,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in shares of Citizens Financial Group by 393.8% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 62,343 shares of the bank’s stock valued at $2,554,000 after purchasing an additional 49,718 shares during the period. 94.90% of the stock is owned by institutional investors and hedge funds.

About Citizens Financial Group

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.