Citizens Financial Group, Inc. (NYSE:CFG) Position Reduced by LSV Asset Management

LSV Asset Management trimmed its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 4.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,896,089 shares of the bank’s stock after selling 293,126 shares during the quarter. LSV Asset Management owned approximately 1.34% of Citizens Financial Group worth $258,013,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its stake in Citizens Financial Group by 0.6% during the 4th quarter. Bessemer Group Inc. now owns 131,630 shares of the bank’s stock valued at $5,759,000 after acquiring an additional 831 shares during the last quarter. DRW Securities LLC acquired a new position in Citizens Financial Group during the 4th quarter valued at about $4,371,000. Bank of Nova Scotia grew its stake in shares of Citizens Financial Group by 32.0% in the 4th quarter. Bank of Nova Scotia now owns 458,614 shares of the bank’s stock worth $20,069,000 after purchasing an additional 111,230 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Citizens Financial Group by 1.7% in the 4th quarter. Cerity Partners LLC now owns 379,735 shares of the bank’s stock worth $16,547,000 after purchasing an additional 6,236 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Citizens Financial Group by 14.4% in the 4th quarter. Federated Hermes Inc. now owns 669,596 shares of the bank’s stock worth $29,302,000 after purchasing an additional 84,185 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CFG. Truist Financial cut their price target on shares of Citizens Financial Group from $54.00 to $51.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Raymond James restated a “strong-buy” rating and set a $58.00 price target (up previously from $55.00) on shares of Citizens Financial Group in a report on Tuesday, January 21st. Morgan Stanley cut their price target on shares of Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Stephens restated an “overweight” rating and set a $53.00 price target on shares of Citizens Financial Group in a report on Wednesday, January 29th. Finally, Barclays boosted their price target on shares of Citizens Financial Group from $47.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Citizens Financial Group has a consensus rating of “Moderate Buy” and a consensus target price of $49.06.

Citizens Financial Group Stock Performance

Shares of NYSE:CFG opened at $37.50 on Thursday. The company has a market capitalization of $16.39 billion, a price-to-earnings ratio of 12.38, a P/E/G ratio of 0.81 and a beta of 0.81. The firm’s 50 day simple moving average is $42.58 and its 200 day simple moving average is $43.86. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. Citizens Financial Group, Inc. has a fifty-two week low of $32.06 and a fifty-two week high of $49.25.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Friday, January 17th. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. As a group, sell-side analysts forecast that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.68 annualized dividend and a dividend yield of 4.48%. Citizens Financial Group’s dividend payout ratio is currently 55.45%.

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.