Bank of New York Mellon Corp Grows Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Bank of New York Mellon Corp lifted its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 31.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,543,207 shares of the bank's stock after purchasing an additional 839,041 shares during the period. Bank of New York Mellon Corp owned about 0.80% of Citizens Financial Group worth $155,051,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Citizens Financial Group by 39.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,279 shares of the bank's stock valued at $1,235,000 after acquiring an additional 8,579 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Citizens Financial Group by 35.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 104,219 shares of the bank's stock valued at $4,280,000 after purchasing an additional 27,152 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Citizens Financial Group by 5.2% during the third quarter. State of Alaska Department of Revenue now owns 52,074 shares of the bank's stock valued at $2,138,000 after purchasing an additional 2,590 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in Citizens Financial Group by 20.7% in the third quarter. First Trust Direct Indexing L.P. now owns 15,010 shares of the bank's stock valued at $616,000 after purchasing an additional 2,579 shares during the last quarter. Finally, US Bancorp DE raised its holdings in Citizens Financial Group by 2.1% in the third quarter. US Bancorp DE now owns 32,324 shares of the bank's stock worth $1,328,000 after purchasing an additional 654 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CFG. Keefe, Bruyette & Woods lifted their price objective on shares of Citizens Financial Group from $53.00 to $56.00 and gave the stock a "market perform" rating in a research report on Tuesday, January 21st. Stephens reaffirmed an "overweight" rating and issued a $53.00 price target on shares of Citizens Financial Group in a report on Wednesday, January 29th. Citigroup upped their price target on Citizens Financial Group from $50.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. Barclays raised their price objective on Citizens Financial Group from $47.00 to $52.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. Finally, Truist Financial upped their target price on Citizens Financial Group from $49.00 to $54.00 and gave the company a "hold" rating in a research report on Tuesday, January 21st. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Citizens Financial Group has an average rating of "Moderate Buy" and a consensus price target of $49.00.

Citizens Financial Group Stock Performance

Shares of NYSE:CFG traded down $0.80 during midday trading on Tuesday, reaching $44.25. The company's stock had a trading volume of 4,753,259 shares, compared to its average volume of 3,736,525. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average of $45.93 and a 200 day moving average of $44.22. Citizens Financial Group, Inc. has a twelve month low of $31.70 and a twelve month high of $49.25. The firm has a market capitalization of $19.34 billion, a PE ratio of 14.61, a P/E/G ratio of 0.81 and a beta of 1.06.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The firm's revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the firm earned $0.85 EPS. On average, equities 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 declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend was Friday, January 31st. Citizens Financial Group's payout ratio is presently 55.45%.

Citizens Financial Group 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.