Analysts Set Citizens Financial Group, Inc. (NYSE:CFG) Target Price at $48.17

Posted by Defense World Staff on Mar 19th, 2023

Citizens Financial Group, Inc. (NYSE:CFG – Get Rating) has received a consensus rating of “Moderate Buy” from the nineteen analysts that are presently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $48.17.

CFG has been the topic of several recent analyst reports. Barclays upped their target price on shares of Citizens Financial Group from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 3rd. DA Davidson began coverage on Citizens Financial Group in a report on Wednesday, December 21st. They set a “buy” rating and a $47.00 price objective for the company. Morgan Stanley raised their price target on Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a research report on Monday, December 5th. Citigroup lifted their price target on Citizens Financial Group from $45.00 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 22nd. Finally, Piper Sandler increased their price objective on shares of Citizens Financial Group from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, February 15th.

Citizens Financial Group Stock Down 5.3 %

CFG opened at $30.86 on Thursday. The business has a 50 day simple moving average of $40.82 and a 200-day simple moving average of $39.25. Citizens Financial Group has a 12 month low of $29.72 and a 12 month high of $50.80. The stock has a market capitalization of $14.95 billion, a P/E ratio of 7.56, a P/E/G ratio of 2.39 and a beta of 1.37. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.92 and a quick ratio of 0.92.

Citizens Financial Group (NYSE:CFG – Get Rating) last released its earnings results on Tuesday, January 17th. The bank reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.05). Citizens Financial Group had a net margin of 22.86% and a return on equity of 11.24%. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.22 billion. On average, equities analysts anticipate that Citizens Financial Group will post 5.03 earnings per share for the current fiscal year.

Citizens Financial Group declared that its Board of Directors has authorized a stock buyback program on Friday, February 17th that authorizes the company to buyback $1.15 billion in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 5.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Shareholders of record on Tuesday, January 31st were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date of this dividend was Monday, January 30th. Citizens Financial Group’s payout ratio is 41.18%.

Insider Buying and Selling

In other news, Director Kevin Cummings sold 90,689 shares of the business’s stock in a transaction on Friday, February 10th. The shares were sold at an average price of $43.00, for a total transaction of $3,899,627.00. Following the completion of the sale, the director now directly owns 455,789 shares of the company’s stock, valued at approximately $19,598,927. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.48% of the company’s stock.

Institutional Investors Weigh In On Citizens Financial Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its stake in shares of Citizens Financial Group by 0.3% in the 4th quarter. CIBC Asset Management Inc now owns 86,831 shares of the bank’s stock valued at $3,419,000 after acquiring an additional 232 shares during the period. Connable Office Inc. lifted its stake in shares of Citizens Financial Group by 3.4% during the fourth quarter. Connable Office Inc. now owns 7,174 shares of the bank’s stock worth $282,000 after purchasing an additional 237 shares in the last quarter. Coastal Investment Advisors Inc. boosted its position in shares of Citizens Financial Group by 21.0% in the fourth quarter. Coastal Investment Advisors Inc. now owns 1,452 shares of the bank’s stock worth $57,000 after buying an additional 252 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Citizens Financial Group by 3.1% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,727 shares of the bank’s stock valued at $344,000 after buying an additional 265 shares in the last quarter. Finally, Valmark Advisers Inc. raised its holdings in shares of Citizens Financial Group by 1.1% during the 3rd quarter. Valmark Advisers Inc. now owns 24,518 shares of the bank’s stock valued at $842,000 after buying an additional 272 shares during the period. 88.96% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Company Profile

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Citizens Financial Group, Inc engages in the provision of commercial banking services. It operates through the Consumer Banking and Commercial Banking segments. The Consumer Banking segment includes deposit products, mortgage and home equity lending, student loans, auto financing, credit cards, business loans, and wealth management and investment services.