Citizens Financial Group (NYSE:CFG) PT Lowered to $36.00 at JPMorgan Chase & Co.

Citizens Financial Group (NYSE:CFG) had its price objective reduced by JPMorgan Chase & Co. from $36.50 to $36.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the bank’s stock.

Several other research firms also recently issued reports on CFG. Jefferies Financial Group boosted their price objective on Citizens Financial Group from $35.00 to $36.00 and gave the stock a hold rating in a report on Monday, April 8th. Morgan Stanley raised their target price on Citizens Financial Group from $31.00 to $39.00 and gave the stock an equal weight rating in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods upped their price target on Citizens Financial Group from $35.00 to $39.00 and gave the company a market perform rating in a research report on Friday, April 5th. Wedbush lowered their target price on Citizens Financial Group from $38.00 to $35.00 and set a neutral rating on the stock in a research note on Thursday, April 18th. Finally, Barclays cut shares of Citizens Financial Group from an overweight rating to an equal weight rating and raised their price target for the stock from $38.00 to $40.00 in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $37.73.

Citizens Financial Group Stock Up 1.1 %

Shares of CFG stock opened at $35.39 on Wednesday. Citizens Financial Group has a 1 year low of $22.77 and a 1 year high of $36.38. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87. The business’s fifty day moving average is $33.95 and its 200-day moving average is $31.18. The stock has a market cap of $16.22 billion, a PE ratio of 12.82 and a beta of 1.36.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the firm earned $1.00 earnings per share. Citizens Financial Group’s revenue was down 7.9% on a year-over-year basis. Equities analysts expect that Citizens Financial Group will post 3.24 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.75%. Citizens Financial Group’s payout ratio is presently 60.87%.

Insider Activity at Citizens Financial Group

In related news, insider Craig Jack Read sold 6,327 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $33.70, for a total value of $213,219.90. Following the completion of the transaction, the insider now directly owns 37,558 shares in the company, valued at approximately $1,265,704.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.62% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Citizens Financial Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. bought a new stake in shares of Citizens Financial Group during the fourth quarter worth approximately $1,959,000. Alps Advisors Inc. increased its holdings in Citizens Financial Group by 32.5% in the 3rd quarter. Alps Advisors Inc. now owns 12,212 shares of the bank’s stock valued at $327,000 after buying an additional 2,992 shares during the period. ANTIPODES PARTNERS Ltd raised its position in shares of Citizens Financial Group by 49.9% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,296,648 shares of the bank’s stock valued at $42,970,000 after buying an additional 431,624 shares in the last quarter. abrdn plc lifted its holdings in shares of Citizens Financial Group by 66.0% during the 4th quarter. abrdn plc now owns 199,260 shares of the bank’s stock worth $6,603,000 after acquiring an additional 79,247 shares during the period. Finally, SeaTown Holdings Pte. Ltd. boosted its position in shares of Citizens Financial Group by 3,222.9% during the 3rd quarter. SeaTown Holdings Pte. Ltd. now owns 1,163,000 shares of the bank’s stock worth $31,168,000 after acquiring an additional 1,128,000 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

About Citizens Financial Group

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.