Bank of Nova Scotia Acquires 111,230 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Bank of Nova Scotia boosted its holdings in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 32.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 458,614 shares of the bank's stock after purchasing an additional 111,230 shares during the quarter. Bank of Nova Scotia owned about 0.10% of Citizens Financial Group worth $20,069,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ameliora Wealth Management Ltd. bought a new stake in shares of Citizens Financial Group during the fourth quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Citizens Financial Group during the 4th quarter valued at $28,000. Sierra Ocean LLC purchased a new stake in shares of Citizens Financial Group during the fourth quarter worth $47,000. Duncker Streett & Co. Inc. bought a new position in shares of Citizens Financial Group in the fourth quarter worth $51,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Citizens Financial Group in the fourth quarter valued at $66,000. 94.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Truist Financial decreased their price target on Citizens Financial Group from $54.00 to $51.00 and set a "hold" rating on the stock in a research report on Friday, March 21st. Stephens restated an "overweight" rating and issued a $53.00 target price on shares of Citizens Financial Group in a research report on Wednesday, January 29th. JPMorgan Chase & Co. cut their price target on shares of Citizens Financial Group from $49.00 to $43.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Citigroup cut their price target on shares of Citizens Financial Group from $58.00 to $51.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Finally, Morgan Stanley decreased their price objective on shares of Citizens Financial Group from $60.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Citizens Financial Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.06.

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Citizens Financial Group Stock Performance

Shares of Citizens Financial Group stock traded down $0.01 during trading on Friday, hitting $34.78. 6,848,123 shares of the company's stock traded hands, compared to its average volume of 4,768,760. Citizens Financial Group, Inc. has a 1 year low of $32.06 and a 1 year high of $49.25. The business has a 50-day simple moving average of $42.10 and a 200-day simple moving average of $43.78. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $15.20 billion, a P/E ratio of 11.48, a PEG ratio of 0.81 and a beta of 0.81.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The firm's revenue for the quarter was down .1% compared to the same quarter last year. As a group, analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend was Friday, January 31st. Citizens Financial Group's payout ratio is 55.45%.

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.