Forum Financial Management LP Purchases New Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Forum Financial Management LP acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 12,139 shares of the bank's stock, valued at approximately $531,000.

Several other institutional investors also recently modified their holdings of CFG. My Legacy Advisors LLC lifted its stake in shares of Citizens Financial Group by 1.0% during the 4th quarter. My Legacy Advisors LLC now owns 22,810 shares of the bank's stock worth $1,074,000 after buying an additional 229 shares during the last quarter. Brooklyn Investment Group lifted its holdings in Citizens Financial Group by 3.3% during the 4th quarter. Brooklyn Investment Group now owns 7,304 shares of the bank's stock worth $320,000 after purchasing an additional 233 shares during the last quarter. 1620 Investment Advisors Inc. grew its holdings in Citizens Financial Group by 3.2% in the 4th quarter. 1620 Investment Advisors Inc. now owns 7,713 shares of the bank's stock valued at $338,000 after buying an additional 238 shares in the last quarter. SeaCrest Wealth Management LLC increased its position in Citizens Financial Group by 0.9% during the 4th quarter. SeaCrest Wealth Management LLC now owns 28,726 shares of the bank's stock worth $1,257,000 after buying an additional 246 shares during the period. Finally, Ballentine Partners LLC boosted its position in shares of Citizens Financial Group by 3.3% in the fourth quarter. Ballentine Partners LLC now owns 7,777 shares of the bank's stock valued at $340,000 after acquiring an additional 247 shares during the period. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Trading Down 1.0 %

NYSE CFG traded down $0.38 during trading hours on Friday, hitting $37.06. 3,350,553 shares of the company's stock were exchanged, compared to its average volume of 4,794,607. Citizens Financial Group, Inc. has a 1-year low of $32.60 and a 1-year high of $49.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The stock has a 50-day simple moving average of $39.87 and a 200 day simple moving average of $43.43. The firm has a market cap of $16.20 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 0.81 and a beta of 0.81.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its earnings results on Wednesday, April 16th. The bank reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.02. The company 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 analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.68 annualized dividend and a dividend yield of 4.53%. Citizens Financial Group's dividend payout ratio is presently 53.33%.

Analyst Ratings Changes

Several analysts have weighed in on CFG shares. Keefe, Bruyette & Woods dropped their price objective on shares of Citizens Financial Group from $49.00 to $45.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Piper Sandler dropped their price target on shares of Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Citigroup cut their price target on Citizens Financial Group from $58.00 to $51.00 and set a "buy" rating for the company in a research note on Monday, March 24th. JPMorgan Chase & Co. cut their target price on 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. Finally, Royal Bank of Canada reduced their target price on Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Eight research 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.