Citizens Financial Group (NYSE:CFG) Price Target Cut to $68.00 by Analysts at JPMorgan Chase & Co.

Citizens Financial Group (NYSE:CFG) had its price target cut by JPMorgan Chase & Co. from $71.00 to $68.00 in a research note published on Tuesday,Benzinga reports. They currently have an overweight rating on the bank’s stock.

A number of other equities research analysts also recently issued reports on CFG. Truist Financial reduced their price target on shares of Citizens Financial Group from $71.00 to $63.00 and set a “hold” rating on the stock in a research note on Monday, March 23rd. Barclays set a $77.00 price target on shares of Citizens Financial Group and gave the company an “overweight” rating in a research note on Monday, January 5th. DA Davidson boosted their price target on shares of Citizens Financial Group from $65.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. The Goldman Sachs Group reissued a “buy” rating and issued a $73.00 price target on shares of Citizens Financial Group in a research note on Tuesday, January 6th. Finally, Evercore boosted their price target on shares of Citizens Financial Group from $69.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Twenty research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.14.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $61.52 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.85 and a quick ratio of 0.84. The firm has a market capitalization of $26.15 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 0.50 and a beta of 0.70. The company’s 50-day moving average is $61.50 and its two-hundred day moving average is $57.48. Citizens Financial Group has a 1-year low of $32.83 and a 1-year high of $68.79.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.02. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Citizens Financial Group had a net margin of 15.19% and a return on equity of 7.81%. Citizens Financial Group’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.85 EPS. Analysts forecast that Citizens Financial Group will post 3.92 EPS for the current 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 paid 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 3.0%. Citizens Financial Group’s dividend payout ratio is currently 47.55%.

Insiders Place Their Bets

In related news, insider Susan Lamonica sold 13,258 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.04, for a total transaction of $769,494.32. Following the completion of the sale, the insider owned 165,971 shares in the company, valued at $9,632,956.84. This represents a 7.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.67% of the stock is currently owned by corporate insiders.

Institutional Trading of Citizens Financial Group

A number of large investors have recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. purchased a new position in Citizens Financial Group during the 4th quarter worth $26,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Citizens Financial Group in the 4th quarter valued at about $29,000. Activest Wealth Management increased its holdings in shares of Citizens Financial Group by 5,600.0% in the 4th quarter. Activest Wealth Management now owns 513 shares of the bank’s stock valued at $30,000 after purchasing an additional 504 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of Citizens Financial Group by 891.5% in the 3rd quarter. True Wealth Design LLC now owns 585 shares of the bank’s stock valued at $31,000 after purchasing an additional 526 shares in the last quarter. Finally, DV Equities LLC purchased a new position in shares of Citizens Financial Group in the 4th quarter valued at about $35,000. Institutional investors and hedge funds 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.