Citizens Financial Group (NYSE:CFG) Reaches New 1-Year High Following Analyst Upgrade

Citizens Financial Group, Inc. (NYSE:CFG)’s share price reached a new 52-week high on Monday after JPMorgan Chase & Co. raised their price target on the stock from $62.50 to $71.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Citizens Financial Group traded as high as $68.66 and last traded at $68.4280, with a volume of 850076 shares trading hands. The stock had previously closed at $68.12.

Other equities analysts have also recently issued reports about the stock. TD Cowen upped their price target on shares of Citizens Financial Group from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Weiss Ratings downgraded Citizens Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, February 3rd. Barclays set a $77.00 price target on Citizens Financial Group and gave the stock an “overweight” rating in a research note on Monday, January 5th. Truist Financial boosted their price target on Citizens Financial Group from $63.00 to $71.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $68.77.

Hedge Funds Weigh In On Citizens Financial Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CFG. GoalVest Advisory LLC boosted its holdings in shares of Citizens Financial Group by 16,900.0% during the 2nd quarter. GoalVest Advisory LLC now owns 680 shares of the bank’s stock worth $30,000 after buying an additional 676 shares during the period. Activest Wealth Management lifted its position in Citizens Financial Group by 5,600.0% during the 4th quarter. Activest Wealth Management now owns 513 shares of the bank’s stock worth $30,000 after acquiring an additional 504 shares during the last quarter. True Wealth Design LLC boosted its holdings in Citizens Financial Group by 891.5% during the third quarter. True Wealth Design LLC now owns 585 shares of the bank’s stock valued at $31,000 after acquiring an additional 526 shares during the period. Capital A Wealth Management LLC grew its position in shares of Citizens Financial Group by 3,970.0% in the second quarter. Capital A Wealth Management LLC now owns 814 shares of the bank’s stock valued at $36,000 after purchasing an additional 794 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Citizens Financial Group in the second quarter worth about $39,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Stock Down 0.5%

The firm has a 50-day moving average of $60.57 and a two-hundred day moving average of $54.43. The firm has a market cap of $29.11 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 0.55 and a beta of 0.72. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44.

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

Citizens Financial Group Announces Dividend

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

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.