JPMorgan Chase & Co. Cuts Citizens Financial Group (NYSE:CFG) Price Target to $43.00

Citizens Financial Group (NYSE:CFG) had its target price trimmed by JPMorgan Chase & Co. from $49.00 to $43.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

A number of other research analysts have also commented on CFG. Morgan Stanley lowered their price objective on shares of Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Stephens reissued an “overweight” rating and issued a $53.00 price objective on shares of Citizens Financial Group in a research note on Wednesday, January 29th. Compass Point raised their target price on Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Truist Financial lowered their target price on Citizens Financial Group from $54.00 to $51.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Finally, Barclays upped their price target on shares of Citizens Financial Group from $47.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Citizens Financial Group has an average rating of “Moderate Buy” and an average price target of $49.06.

Citizens Financial Group Stock Performance

Shares of NYSE CFG opened at $36.22 on Thursday. Citizens Financial Group has a 12-month low of $32.06 and a 12-month high of $49.25. The company has a market cap of $15.83 billion, a PE ratio of 11.95, a P/E/G ratio of 0.81 and a beta of 0.81. The stock has a 50 day simple moving average of $44.04 and a 200-day simple moving average of $44.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the business posted $0.85 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities research analysts forecast that Citizens Financial Group will post 3.92 EPS for the current year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.68 dividend on an annualized basis and a yield of 4.64%. Citizens Financial Group’s payout ratio is presently 55.45%.

Institutional Trading of Citizens Financial Group

A number of hedge funds have recently made changes to their positions in the stock. Ameriflex Group Inc. purchased a new position in Citizens Financial Group during the fourth quarter valued at approximately $26,000. Ameliora Wealth Management Ltd. purchased a new position in shares of Citizens Financial Group during the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Citizens Financial Group in the fourth quarter worth $28,000. Colonial Trust Co SC raised its holdings in shares of Citizens Financial Group by 673.0% during the fourth quarter. Colonial Trust Co SC now owns 889 shares of the bank’s stock worth $39,000 after acquiring an additional 774 shares in the last quarter. Finally, Sierra Ocean LLC acquired a new stake in Citizens Financial Group during the fourth quarter valued at $47,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

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.