Argus raised the firm’s price target on Citizens Financial to $47 from $39 and keeps a Buy rating on the shares after its Q2 earnings beat. Citizens Financial and other regional banks have adequately allayed post-SVB fears with their recent results, while its management noted that it saw a steady CET1 ratio of 10.7% and stable deposits in the quarter relative to the prior year, the analyst tells investors in a research note. The stock also carries an “attractive” and above-peer-average dividend yield of 4.1%, the firm added.
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