Citizens Financial Group (NYSE:CFG) Given New $73.00 Price Target at Morgan Stanley

Citizens Financial Group (NYSE:CFG) had its price target trimmed by Morgan Stanley from $80.00 to $73.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the bank’s stock.

CFG has been the subject of several other reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 price objective on shares of Citizens Financial Group in a research report on Wednesday, January 21st. DA Davidson lifted their target price on Citizens Financial Group from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. The Goldman Sachs Group restated a “buy” rating and issued a $73.00 target price on shares of Citizens Financial Group in a research note on Tuesday, January 6th. Royal Bank Of Canada upped their price target on Citizens Financial Group from $60.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. Finally, Robert W. Baird raised shares of Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $65.00 price target for the company in a research note on Monday, March 9th. Twenty equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Citizens Financial Group has a consensus rating of “Moderate Buy” and a consensus price target of $69.27.

Citizens Financial Group Trading Up 4.2%

CFG opened at $59.89 on Tuesday. The stock has a market capitalization of $25.45 billion, a P/E ratio of 15.47, a P/E/G ratio of 0.47 and a beta of 0.70. Citizens Financial Group has a 12 month low of $32.60 and a 12 month high of $68.79. The firm’s fifty day simple moving average is $61.73 and its 200 day simple moving average is $57.17. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.02. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.81%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the business earned $0.85 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, research analysts anticipate that Citizens Financial Group will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Wednesday, February 4th were issued a dividend of $0.46 per share. The ex-dividend date was Wednesday, February 4th. This represents a $1.84 dividend on an annualized basis and a yield of 3.1%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 47.55%.

Insiders Place Their Bets

In other Citizens Financial Group news, insider Susan Lamonica sold 13,258 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $58.04, for a total transaction of $769,494.32. Following the transaction, the insider owned 165,971 shares of the company’s stock, valued at $9,632,956.84. The trade was a 7.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC increased its holdings in shares of Citizens Financial Group by 2.9% in the fourth quarter. Parallel Advisors LLC now owns 6,078 shares of the bank’s stock valued at $355,000 after purchasing an additional 172 shares during the last quarter. AA Financial Advisors LLC lifted its stake in shares of Citizens Financial Group by 3.9% during the 4th quarter. AA Financial Advisors LLC now owns 4,657 shares of the bank’s stock worth $272,000 after buying an additional 174 shares during the last quarter. Inscription Capital LLC boosted its holdings in shares of Citizens Financial Group by 1.6% during the 4th quarter. Inscription Capital LLC now owns 10,902 shares of the bank’s stock worth $637,000 after buying an additional 175 shares during the period. Clear Harbor Asset Management LLC boosted its holdings in shares of Citizens Financial Group by 0.9% during the 4th quarter. Clear Harbor Asset Management LLC now owns 19,694 shares of the bank’s stock worth $1,150,000 after buying an additional 175 shares during the period. Finally, Grove Bank & Trust grew its stake in Citizens Financial Group by 19.8% in the 4th quarter. Grove Bank & Trust now owns 1,107 shares of the bank’s stock valued at $65,000 after buying an additional 183 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors.

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.