Citizens Financial Group (NYSE:CFG) Given New $48.00 Price Target at Piper Sandler

Citizens Financial Group (NYSE:CFG) had its target price upped by Piper Sandler from $45.00 to $48.00 in a report released on Friday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the bank’s stock.

Several other equities analysts have also recently weighed in on CFG. Argus raised their price target on Citizens Financial Group from $36.00 to $39.00 and gave the company a buy rating in a report on Wednesday, April 24th. DA Davidson raised their price objective on Citizens Financial Group from $41.00 to $46.00 and gave the company a buy rating in a research note on Thursday, July 18th. Morgan Stanley raised their price objective on Citizens Financial Group from $38.00 to $41.00 and gave the company an equal weight rating in a research note on Thursday, July 18th. Royal Bank of Canada raised their price objective on Citizens Financial Group from $35.00 to $43.00 and gave the company an outperform rating in a research note on Thursday, July 18th. Finally, Stephens raised their price objective on Citizens Financial Group from $40.00 to $42.00 and gave the company an overweight rating in a research note on Friday, July 19th. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $41.60.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $43.23 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60. Citizens Financial Group has a 12-month low of $22.77 and a 12-month high of $43.96. The stock has a 50-day moving average price of $36.48 and a 200 day moving average price of $34.59. The stock has a market capitalization of $19.67 billion, a P/E ratio of 15.66, a P/E/G ratio of 1.55 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.01). The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.92 EPS. Equities research analysts forecast that Citizens Financial Group will post 3.24 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend is Wednesday, July 31st. Citizens Financial Group’s dividend payout ratio (DPR) is presently 60.87%.

Insider Buying and Selling at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of Citizens Financial Group stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $43.26, for a total transaction of $170,357.88. Following the completion of the sale, the insider now directly owns 33,620 shares of the company’s stock, valued at approximately $1,454,401.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.62% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. HB Wealth Management LLC increased its holdings in shares of Citizens Financial Group by 14.1% in the 2nd quarter. HB Wealth Management LLC now owns 12,708 shares of the bank’s stock valued at $458,000 after acquiring an additional 1,568 shares during the period. AlphaStar Capital Management LLC purchased a new position in Citizens Financial Group during the 2nd quarter worth $270,000. Verdence Capital Advisors LLC purchased a new position in Citizens Financial Group during the 2nd quarter worth $391,000. LRI Investments LLC grew its stake in Citizens Financial Group by 16.7% during the 2nd quarter. LRI Investments LLC now owns 3,860 shares of the bank’s stock worth $139,000 after buying an additional 551 shares during the last quarter. Finally, My Legacy Advisors LLC purchased a new position in Citizens Financial Group during the 2nd quarter worth $975,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Company Profile

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.