Citizens Financial Group (NYSE:CFG) Given New $46.00 Price Target at Evercore ISI

Citizens Financial Group (NYSE:CFG - Free Report) had its price objective reduced by Evercore ISI from $47.00 to $46.00 in a research report report published on Wednesday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the bank's stock.

A number of other research firms also recently issued reports on CFG. The Goldman Sachs Group increased their price target on Citizens Financial Group from $43.00 to $49.00 and gave the stock a buy rating in a research report on Thursday, July 18th. Royal Bank of Canada upped their price target on shares of Citizens Financial Group from $35.00 to $43.00 and gave the stock an outperform rating in a research report on Thursday, July 18th. DA Davidson lifted their price objective on shares of Citizens Financial Group from $41.00 to $46.00 and gave the company a buy rating in a report on Thursday, July 18th. Piper Sandler upped their target price on Citizens Financial Group from $45.00 to $48.00 and gave the stock an overweight rating in a report on Friday, July 26th. Finally, Raymond James initiated coverage on Citizens Financial Group in a report on Thursday, July 11th. They issued a market perform rating on the stock. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Citizens Financial Group presently has a consensus rating of Hold and a consensus price target of $43.07.

Citizens Financial Group Trading Up 0.3 %

CFG stock traded up $0.13 during trading on Wednesday, hitting $40.05. The company had a trading volume of 3,836,051 shares, compared to its average volume of 5,391,525. Citizens Financial Group has a 52-week low of $22.77 and a 52-week high of $43.96. The company has a 50 day simple moving average of $41.12 and a 200-day simple moving average of $37.49. The firm has a market capitalization of $18.22 billion, a P/E ratio of 14.45, a PEG ratio of 1.43 and a beta of 1.08. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.01). The company had revenue of $1.96 billion for 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 period in the prior year, the firm posted $0.92 EPS. As a group, research analysts forecast that Citizens Financial Group will post 3.24 earnings per share for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Wednesday, July 31st. Citizens Financial Group's payout ratio is 60.87%.

Insiders Place Their Bets

In other news, insider Craig Jack Read sold 3,938 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $43.26, for a total value of $170,357.88. Following the transaction, the insider now directly owns 33,620 shares of the company's stock, valued at $1,454,401.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.62% of the stock is currently owned by insiders.

Institutional Trading of Citizens Financial Group

A number of hedge funds and other institutional investors have recently made changes to their positions in CFG. TD Asset Management Inc lifted its holdings in shares of Citizens Financial Group by 4.2% in the 4th quarter. TD Asset Management Inc now owns 165,751 shares of the bank's stock valued at $5,493,000 after buying an additional 6,749 shares during the period. California State Teachers Retirement System grew its stake in shares of Citizens Financial Group by 6.4% during the 4th quarter. California State Teachers Retirement System now owns 861,097 shares of the bank's stock worth $28,537,000 after purchasing an additional 51,418 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of Citizens Financial Group in the 4th quarter valued at $450,000. NEOS Investment Management LLC purchased a new stake in Citizens Financial Group during the fourth quarter worth $219,000. Finally, Capital International Investors increased its holdings in Citizens Financial Group by 3.5% in the fourth quarter. Capital International Investors now owns 35,157,079 shares of the bank's stock valued at $1,165,106,000 after buying an additional 1,199,158 shares in the last quarter. Institutional investors and hedge funds 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.