Citizens Financial Group (NYSE:CFG) Hits New 1-Year High – What’s Next?

Shares of Citizens Financial Group, Inc. (NYSE:CFG) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $45.83 and last traded at $45.80, with a volume of 104679 shares traded. The stock had previously closed at $42.22.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CFG shares. Piper Sandler boosted their price objective on shares of Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. UBS Group upped their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Stephens lifted their target price on Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods raised their price target on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a “market perform” rating in a research note on Monday, September 30th. Finally, Evercore ISI cut their price objective on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 2nd. Nine 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 $43.80.

Citizens Financial Group Trading Up 12.7 %

The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86. The business’s 50-day moving average is $41.50 and its 200 day moving average is $38.79. The firm has a market capitalization of $21.18 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 1.59 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.79. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 earnings per share. As a group, analysts anticipate that Citizens Financial Group, Inc. will post 3.19 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, October 30th. This represents a $1.68 annualized dividend and a yield of 3.53%. Citizens Financial Group’s dividend payout ratio is 66.14%.

Hedge Funds Weigh In On Citizens Financial Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital International Investors lifted its stake in Citizens Financial Group by 4.4% during the first quarter. Capital International Investors now owns 36,709,412 shares of the bank’s stock worth $1,332,185,000 after purchasing an additional 1,552,333 shares during the last quarter. LSV Asset Management boosted its stake in Citizens Financial Group by 1.8% in the second quarter. LSV Asset Management now owns 6,580,797 shares of the bank’s stock valued at $237,106,000 after buying an additional 113,300 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Citizens Financial Group by 15.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,429,264 shares of the bank’s stock valued at $159,550,000 after acquiring an additional 587,115 shares during the last quarter. AQR Capital Management LLC raised its stake in Citizens Financial Group by 61.4% during the second quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock worth $155,909,000 after acquiring an additional 1,682,886 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Citizens Financial Group by 1.7% in the second quarter. Hsbc Holdings PLC now owns 2,764,090 shares of the bank’s stock worth $99,448,000 after acquiring an additional 45,038 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

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.