Citizens Financial Group (NYSE:CFG) Reaches New 12-Month High – Should You Buy?

Citizens Financial Group, Inc. (NYSE:CFG)’s stock price reached a new 52-week high on Monday . The company traded as high as $48.36 and last traded at $48.36, with a volume of 2827 shares. The stock had previously closed at $47.65.

Wall Street Analyst Weigh In

CFG has been the subject of several recent research reports. Morgan Stanley boosted their price target on shares of Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Evercore ISI lowered their target price on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a report on Wednesday, October 2nd. Barclays lifted their price target on Citizens Financial Group from $40.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. DA Davidson upped their price objective on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada lifted their target price on Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.47.

Citizens Financial Group Price Performance

The stock has a 50 day moving average of $43.14 and a 200-day moving average of $40.02. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market cap of $21.19 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 1.81 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.79. The firm 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 company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.85 earnings per share. Equities analysts predict that Citizens Financial Group, Inc. will post 3.2 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $1.68 annualized dividend and a dividend yield of 3.49%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 66.14%.

Institutional Investors Weigh In On Citizens Financial Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new stake in shares of Citizens Financial Group in the second quarter worth about $25,000. Costello Asset Management INC acquired a new stake in shares of Citizens Financial Group during the 3rd quarter worth approximately $25,000. Ashton Thomas Securities LLC acquired a new position in shares of Citizens Financial Group in the 3rd quarter valued at $27,000. Catalyst Capital Advisors LLC purchased a new stake in Citizens Financial Group during the third quarter worth $28,000. Finally, Versant Capital Management Inc grew its position in Citizens Financial Group by 262.8% during the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after buying an additional 678 shares during the period. 94.90% of the stock is owned by institutional investors and hedge funds.

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.