NewEdge Advisors LLC Raises Stake in Citizens Financial Group, Inc. (NYSE:CFG)

NewEdge Advisors LLC grew its stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 3.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 11,257 shares of the bank’s stock after buying an additional 363 shares during the quarter. NewEdge Advisors LLC’s holdings in Citizens Financial Group were worth $493,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. CHURCHILL MANAGEMENT Corp purchased a new position in shares of Citizens Financial Group in the fourth quarter valued at about $8,134,000. BTC Capital Management Inc. increased its position in shares of Citizens Financial Group by 19.8% in the fourth quarter. BTC Capital Management Inc. now owns 42,999 shares of the bank’s stock valued at $1,882,000 after acquiring an additional 7,119 shares during the period. Patton Fund Management Inc. purchased a new position in shares of Citizens Financial Group in the fourth quarter valued at about $6,694,000. AEGON ASSET MANAGEMENT UK Plc increased its position in shares of Citizens Financial Group by 46.8% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,152,151 shares of the bank’s stock valued at $50,430,000 after acquiring an additional 367,439 shares during the period. Finally, Nordea Investment Management AB increased its position in shares of Citizens Financial Group by 19.3% in the fourth quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank’s stock valued at $217,781,000 after acquiring an additional 805,758 shares during the period. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Trading Up 0.7 %

Shares of NYSE CFG opened at $37.31 on Tuesday. The firm’s 50 day moving average price is $39.67 and its 200-day moving average price is $43.42. The company has a market cap of $16.31 billion, a PE ratio of 12.31, a P/E/G ratio of 0.81 and a beta of 0.81. Citizens Financial Group, Inc. has a 52-week low of $32.60 and a 52-week high of $49.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Wednesday, April 16th. The bank reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. On average, equities research analysts expect that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.68 annualized dividend and a dividend yield of 4.50%. Citizens Financial Group’s payout ratio is 53.33%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CFG. Piper Sandler decreased their price objective on shares of Citizens Financial Group from $48.00 to $43.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Truist Financial cut their target price on shares of Citizens Financial Group from $51.00 to $43.00 and set a “hold” rating on the stock in a research note on Thursday, April 17th. The Goldman Sachs Group cut their target price on shares of Citizens Financial Group from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Citigroup cut their target price on shares of Citizens Financial Group from $58.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Citizens Financial Group from $49.00 to $45.00 and set a “market perform” rating on the stock in a research note on Thursday, April 17th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.18.

Citizens Financial Group Company Profile

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.