Stocks: Citizens Financial Group Inc (CFG) Receives Average Rating of “Buy” from Analysts

Stocks: Citizens Financial Group Inc (CFG) Receives Average Rating of “Buy” from Analysts

Shares of Citizens Financial Group Inc (NYSE:CFG) have earned an average rating of “Buy” from the fourteen analysts that are currently covering the stock. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $36.50.

Several equities research analysts have weighed in on the company. Keefe, Bruyette & Woods set a $39.00 price objective on Citizens Financial Group and gave the stock a “buy” rating in a research note on Saturday, March 25th. Zacks Investment Research raised Citizens Financial Group from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Monday, April 24th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Citizens Financial Group in a research note on Saturday, April 22nd. Wedbush raised Citizens Financial Group from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $39.00 to $41.00 in a research note on Monday, May 1st. Finally, Rafferty Capital Markets reissued a “buy” rating and set a $40.00 price objective (up from $36.00) on shares of Citizens Financial Group in a research note on Monday, April 24th.

Several hedge funds have recently made changes to their positions in CFG. FMR LLC raised its stake in shares of Citizens Financial Group by 776.6% in the fourth quarter. FMR LLC now owns 2,125,912 shares of the bank’s stock worth $75,746,000 after buying an additional 1,883,392 shares during the last quarter. UBS Oconnor LLC purchased a new stake in shares of Citizens Financial Group during the third quarter worth about $3,135,000. RiverPoint Capital Management LLC raised its stake in shares of Citizens Financial Group by 1,212.6% in the third quarter. RiverPoint Capital Management LLC now owns 203,657 shares of the bank’s stock worth $5,032,000 after buying an additional 188,142 shares during the last quarter. First Allied Advisory Services Inc. purchased a new stake in shares of Citizens Financial Group during the fourth quarter worth about $330,000. Finally, Artemis Investment Management LLP raised its stake in shares of Citizens Financial Group by 148.5% in the fourth quarter. Artemis Investment Management LLP now owns 807,145 shares of the bank’s stock worth $28,763,000 after buying an additional 482,345 shares during the last quarter. Hedge funds and other institutional investors own 97.12% of the company’s stock.

Citizens Financial Group (NYSE:CFG) opened at 36.41 on Friday. The firm has a 50-day moving average price of $35.37 and a 200-day moving average price of $34.71. Citizens Financial Group has a 52 week low of $18.34 and a 52 week high of $39.75. The company has a market capitalization of $18.44 billion, a price-to-earnings ratio of 16.78 and a beta of 1.36.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Thursday, April 20th. The bank reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.10. Citizens Financial Group had a return on equity of 5.19% and a net margin of 18.13%. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the firm posted $0.41 earnings per share. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. Analysts anticipate that Citizens Financial Group will post $2.45 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 17th. Investors of record on Wednesday, May 3rd will be issued a $0.14 dividend. The ex-dividend date is Monday, May 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.51%. Citizens Financial Group’s payout ratio is 28.28%.

About Citizens Financial Group

Citizens Financial Group, Inc is a retail bank holding company. The Company operates through two segments: Consumer Banking and Commercial Banking. Its Consumer Banking serves retail customers and small businesses. Consumer Banking products and services include deposit products, mortgage and home equity lending, auto financing, student loans, personal unsecured lines and loans, credit cards, business loans, wealth management and investment services.

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