JPMorgan Chase & Co. Issues Positive Forecast for Citizens Financial Group (NYSE:CFG) Stock Price

Citizens Financial Group (NYSE:CFG) had its target price raised by JPMorgan Chase & Co. from $62.50 to $71.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the bank’s stock.

A number of other research firms also recently weighed in on CFG. Robert W. Baird restated a “neutral” rating and set a $60.00 target price on shares of Citizens Financial Group in a research report on Thursday, December 11th. Royal Bank Of Canada boosted their price objective on Citizens Financial Group from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, January 22nd. Barclays set a $77.00 target price on shares of Citizens Financial Group and gave the company an “overweight” rating in a research note on Monday, January 5th. Citigroup boosted their price target on shares of Citizens Financial Group from $65.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, Weiss Ratings lowered shares of Citizens Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.77.

Citizens Financial Group Price Performance

Shares of CFG stock opened at $67.77 on Monday. Citizens Financial Group has a 1 year low of $32.60 and a 1 year high of $68.66. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average is $60.57 and its 200-day moving average is $54.43. The firm has a market capitalization of $29.11 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 0.55 and a beta of 0.72.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, January 21st. The bank reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.02. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.89%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the company posted $0.85 EPS. Citizens Financial Group’s revenue was up 8.6% on a year-over-year basis. Sell-side analysts forecast that Citizens Financial Group will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 18th. Shareholders of record on Wednesday, February 4th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, February 4th. Citizens Financial Group’s dividend payout ratio is 47.55%.

Institutional Investors Weigh In On Citizens Financial Group

A number of institutional investors have recently modified their holdings of the business. Ninety One UK Ltd acquired a new stake in Citizens Financial Group in the third quarter valued at approximately $308,946,000. Norges Bank bought a new position in Citizens Financial Group in the 2nd quarter valued at about $253,423,000. HoldCo Asset Management LP bought a new stake in Citizens Financial Group in the 2nd quarter worth about $93,361,000. Alyeska Investment Group L.P. purchased a new position in Citizens Financial Group in the third quarter valued at about $87,173,000. Finally, Zurich Insurance Group Ltd FI raised its position in shares of Citizens Financial Group by 326.3% in the third quarter. Zurich Insurance Group Ltd FI now owns 2,082,961 shares of the bank’s stock valued at $110,730,000 after purchasing an additional 1,594,326 shares during the period. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.