Federated Hermes Inc. Purchases 84,185 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Federated Hermes Inc. lifted its position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 14.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 669,596 shares of the bank's stock after buying an additional 84,185 shares during the period. Federated Hermes Inc. owned about 0.15% of Citizens Financial Group worth $29,302,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Integrated Wealth Concepts LLC bought a new stake in Citizens Financial Group during the 3rd quarter worth about $204,000. Orion Portfolio Solutions LLC increased its position in shares of Citizens Financial Group by 9.1% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 38,986 shares of the bank's stock worth $1,601,000 after purchasing an additional 3,263 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Citizens Financial Group by 1.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 138,333 shares of the bank's stock worth $5,681,000 after purchasing an additional 1,338 shares in the last quarter. Brophy Wealth Management LLC acquired a new stake in shares of Citizens Financial Group in the 3rd quarter valued at approximately $319,000. Finally, MidWestOne Financial Group Inc. bought a new position in shares of Citizens Financial Group in the third quarter valued at $221,000. 94.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods upped their price target 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. JPMorgan Chase & Co. reduced their price target on Citizens Financial Group from $49.00 to $43.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Raymond James restated a "strong-buy" rating and issued a $58.00 price objective (up previously from $55.00) on shares of Citizens Financial Group in a research note on Tuesday, January 21st. Truist Financial reduced their target price on Citizens Financial Group from $54.00 to $51.00 and set a "hold" rating for the company in a research note on Friday, March 21st. Finally, Morgan Stanley dropped their price target 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. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Citizens Financial Group has a consensus rating of "Moderate Buy" and an average target price of $49.06.

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Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock traded down $0.01 during trading on Friday, reaching $34.78. 6,848,123 shares of the company's stock were exchanged, compared to its average volume of 4,768,760. 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, Inc. has a 1-year low of $32.06 and a 1-year high of $49.25. The company has a market cap of $15.20 billion, a P/E ratio of 11.48, a PEG ratio of 0.81 and a beta of 0.81. The firm's 50-day moving average price is $42.10 and its 200 day moving average price is $43.78.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued 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 during 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 business's quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 earnings per share. As a group, research analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

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