Franklin Resources Inc. Purchases 61,942 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Franklin Resources Inc. raised its position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 9.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 717,542 shares of the bank's stock after purchasing an additional 61,942 shares during the period. Franklin Resources Inc. owned approximately 0.16% of Citizens Financial Group worth $31,400,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ameliora Wealth Management Ltd. bought a new stake in Citizens Financial Group in the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Citizens Financial Group in the 4th quarter worth approximately $28,000. Sierra Ocean LLC purchased a new stake in shares of Citizens Financial Group in the 4th quarter valued at $47,000. Legacy Investment Solutions LLC bought a new position in shares of Citizens Financial Group during the 3rd quarter valued at $48,000. Finally, Duncker Streett & Co. Inc. bought a new stake in Citizens Financial Group in the fourth quarter worth $51,000. Institutional investors own 94.90% of the company's stock.

Analyst Upgrades and Downgrades

CFG has been the subject of several analyst reports. Barclays increased their target price on Citizens Financial Group from $47.00 to $52.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Stephens reissued an "overweight" rating and set a $53.00 price target on shares of Citizens Financial Group in a research report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price objective on shares of Citizens Financial Group from $49.00 to $43.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Morgan Stanley cut their target price on Citizens Financial Group from $60.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. Finally, Truist Financial reduced their price target on Citizens Financial Group from $54.00 to $51.00 and set a "hold" rating on the stock in a report on Friday, March 21st. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $49.06.

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Citizens Financial Group Stock Down 7.3 %

Shares of NYSE CFG traded down $2.72 during trading on Thursday, reaching $34.75. The company had a trading volume of 1,237,201 shares, compared to its average volume of 4,535,389. The business's 50-day moving average is $42.58 and its 200 day moving average is $43.86. 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 market cap of $15.19 billion, a PE ratio of 11.50, a P/E/G ratio of 0.81 and a beta of 0.81. Citizens Financial Group, Inc. has a 12-month low of $32.06 and a 12-month high of $49.25.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its earnings results on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm 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 posted $0.85 earnings per share. The business's revenue was down .1% on a year-over-year basis. As a group, equities analysts forecast that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal 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 $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.83%. The ex-dividend date was Friday, January 31st. 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.