DA Davidson Increases Citizens Financial Group (NYSE:CFG) Price Target to $46.00

Citizens Financial Group (NYSE:CFG) had its target price boosted by DA Davidson from $41.00 to $46.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the bank’s stock. DA Davidson also issued estimates for Citizens Financial Group’s Q3 2024 earnings at $0.81 EPS.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. cut their price target on shares of Citizens Financial Group from $36.50 to $36.00 and set a neutral rating for the company in a report on Wednesday, May 1st. Argus boosted their target price on Citizens Financial Group from $36.00 to $39.00 and gave the stock a buy rating in a report on Wednesday, April 24th. StockNews.com raised Citizens Financial Group from a sell rating to a hold rating in a report on Sunday, May 5th. Keefe, Bruyette & Woods boosted their price objective on Citizens Financial Group from $39.00 to $40.00 and gave the stock a market perform rating in a research note on Tuesday, July 9th. Finally, Citigroup increased their target price on Citizens Financial Group from $39.00 to $43.00 and gave the stock a buy rating in a report on Friday, April 19th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Citizens Financial Group has a consensus rating of Hold and a consensus target price of $41.13.

Citizens Financial Group Trading Up 0.6 %

Shares of CFG opened at $41.00 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.60. The stock has a market cap of $18.66 billion, a PE ratio of 14.86, a PEG ratio of 1.55 and a beta of 1.10. Citizens Financial Group has a 1 year low of $22.77 and a 1 year high of $41.94. The stock has a 50 day simple moving average of $35.89 and a 200-day simple moving average of $34.28.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.95 billion. Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $0.92 earnings per share. On average, sell-side analysts predict that Citizens Financial Group will post 3.24 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be given a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.68 annualized dividend and a dividend yield of 4.10%. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Institutional Investors Weigh In On Citizens Financial Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Citizens Financial Group during the 4th quarter worth about $117,372,000. Capital International Investors increased its stake in Citizens Financial Group by 4.4% in the first quarter. Capital International Investors now owns 36,709,412 shares of the bank’s stock valued at $1,332,185,000 after purchasing an additional 1,552,333 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Citizens Financial Group by 96.3% in the fourth quarter. Hsbc Holdings PLC now owns 2,472,122 shares of the bank’s stock worth $81,932,000 after purchasing an additional 1,212,642 shares during the period. Franklin Resources Inc. boosted its position in shares of Citizens Financial Group by 130.0% during the fourth quarter. Franklin Resources Inc. now owns 1,955,230 shares of the bank’s stock worth $64,796,000 after purchasing an additional 1,105,011 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Citizens Financial Group by 3,234.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,100,988 shares of the bank’s stock valued at $39,669,000 after buying an additional 1,067,971 shares during the period. Institutional investors own 94.90% of the company’s stock.

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.