Citizens Financial Group (NYSE:CFG) Sets New 52-Week High - Still a Buy?

Shares of Citizens Financial Group, Inc. (NYSE:CFG - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $55.55 and last traded at $55.5070, with a volume of 2445026 shares trading hands. The stock had previously closed at $54.66.

Wall Street Analyst Weigh In

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Several analysts recently weighed in on CFG shares. DA Davidson reissued a "buy" rating and issued a $59.00 price objective on shares of Citizens Financial Group in a research note on Thursday, October 16th. UBS Group upped their price objective on shares of Citizens Financial Group from $57.00 to $62.00 and gave the company a "buy" rating in a report on Tuesday, October 7th. Truist Financial cut their target price on Citizens Financial Group from $58.00 to $56.00 and set a "hold" rating on the stock in a report on Friday, October 17th. Stephens reiterated an "overweight" rating and set a $60.00 price target on shares of Citizens Financial Group in a research note on Thursday, October 16th. Finally, Bank of America raised Citizens Financial Group from a "neutral" rating to a "buy" rating and increased their price target for the company from $52.00 to $65.00 in a research report on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Citizens Financial Group currently has a consensus rating of "Buy" and a consensus price target of $56.57.

Check Out Our Latest Analysis on CFG

Citizens Financial Group Stock Performance

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The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $23.81 billion, a PE ratio of 15.53, a PEG ratio of 0.58 and a beta of 0.74. The company has a 50-day moving average price of $51.94 and a two-hundred day moving average price of $48.56.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its earnings results on Wednesday, October 15th. The bank reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.02. Citizens Financial Group had a return on equity of 7.48% and a net margin of 14.17%.The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the previous year, the firm earned $0.79 EPS. The company's quarterly revenue was up 11.4% compared to the same quarter last year. Analysts predict that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Increases Dividend

• New York Community Bank stock plummets amid real estate risks

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Wednesday, October 29th were given a dividend of $0.46 per share. The ex-dividend date was Wednesday, October 29th. This is a positive change from Citizens Financial Group's previous quarterly dividend of $0.42. This represents a $1.84 dividend on an annualized basis and a yield of 3.3%. Citizens Financial Group's dividend payout ratio (DPR) is 51.54%.

Institutional Investors Weigh In On Citizens Financial Group

A number of institutional investors have recently made changes to their positions in CFG. Investors Research Corp lifted its position in Citizens Financial Group by 344.8% in the second quarter. Investors Research Corp now owns 645 shares of the bank's stock valued at $29,000 after purchasing an additional 500 shares during the last quarter. Trust Co. of Vermont increased its stake in shares of Citizens Financial Group by 177.5% in the second quarter. Trust Co. of Vermont now owns 641 shares of the bank's stock worth $29,000 after buying an additional 410 shares during the period. GoalVest Advisory LLC raised its holdings in Citizens Financial Group by 16,900.0% during the 2nd quarter. GoalVest Advisory LLC now owns 680 shares of the bank's stock valued at $30,000 after buying an additional 676 shares during the last quarter. True Wealth Design LLC boosted its position in Citizens Financial Group by 891.5% during the 3rd quarter. True Wealth Design LLC now owns 585 shares of the bank's stock valued at $31,000 after buying an additional 526 shares during the period. Finally, REAP Financial Group LLC increased its position in shares of Citizens Financial Group by 72.4% in the second quarter. REAP Financial Group LLC now owns 736 shares of the bank's stock valued at $33,000 after acquiring an additional 309 shares during the period. Hedge funds and other 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.

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