Citizens Financial Group (NYSE:CFG) Sets New 1-Year High - Still a Buy?

Key Points

• Citizens Financial Group's shares reached a new 52-week high of $53.85, indicating strong market performance, with an average rating of Moderate Buy from analysts.
• The company reported a quarterly EPS of $0.92, exceeding expectations and marking a 3.8% increase in revenue compared to the previous year.
• Citizens Financial declared a quarterly dividend of $0.42 per share, reflecting a dividend yield of 3.2%, along with a share buyback plan worth $1.50 billion to repurchase up to 8.5% of its stocks.

Shares of Citizens Financial Group, Inc. (NYSE:CFG - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $53.85 and last traded at $53.77, with a volume of 504225 shares trading hands. The stock had previously closed at $52.55.

Analyst Ratings Changes

CFG has been the subject of several analyst reports. Barclays boosted their price target on shares of Citizens Financial Group from $49.00 to $55.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. UBS Group boosted their price target on shares of Citizens Financial Group from $50.00 to $53.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Raymond James Financial boosted their price target on shares of Citizens Financial Group from $48.00 to $57.00 and gave the stock a "strong-buy" rating in a report on Friday, July 18th. DA Davidson boosted their price target on shares of Citizens Financial Group from $49.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Wall Street Zen upgraded shares of Citizens Financial Group from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Citizens Financial Group presently has an average rating of "Moderate Buy" and a consensus price target of $52.35.

Citizens Financial Group Stock Performance

The company has a market cap of $22.88 billion, a PE ratio of 16.12, a P/E/G ratio of 0.59 and a beta of 0.80. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.84 and a current ratio of 0.85. The stock's 50-day simple moving average is $49.85 and its 200 day simple moving average is $43.70.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The bank reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.04. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.01 billion. Citizens Financial Group had a net margin of 13.26% and a return on equity of 6.94%. Citizens Financial Group's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 EPS. As a group, equities analysts anticipate that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Thursday, July 31st. Citizens Financial Group's dividend payout ratio (DPR) is currently 51.06%.

Citizens Financial Group declared that its Board of Directors has initiated a share buyback plan on Friday, June 13th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the bank to reacquire up to 8.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Hedge Funds Weigh In On Citizens Financial Group

A number of large investors have recently made changes to their positions in CFG. Ameriflex Group Inc. purchased a new position in shares of Citizens Financial Group in the 4th quarter valued at about $26,000. Grove Bank & Trust increased its holdings in Citizens Financial Group by 97.1% during the 1st quarter. Grove Bank & Trust now owns 678 shares of the bank's stock valued at $28,000 after acquiring an additional 334 shares in the last quarter. Investors Research Corp increased its holdings in Citizens Financial Group by 344.8% during the 2nd quarter. Investors Research Corp now owns 645 shares of the bank's stock valued at $29,000 after acquiring an additional 500 shares in the last quarter. Trust Co. of Vermont increased its holdings in Citizens Financial Group by 177.5% during the 2nd quarter. Trust Co. of Vermont now owns 641 shares of the bank's stock valued at $29,000 after acquiring an additional 410 shares in the last quarter. Finally, GoalVest Advisory LLC increased 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 acquiring an additional 676 shares in the last quarter. 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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