Forum Financial Management LP Acquires Shares of 12,139 Citizens Financial Group, Inc. (NYSE:CFG)

Forum Financial Management LP acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 12,139 shares of the bank's stock, valued at approximately $531,000.

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

Citizens Financial Group Price Performance

CFG stock traded down $0.38 during mid-day trading on Friday, reaching $37.06. 3,340,507 shares of the company traded hands, compared to its average volume of 4,787,758. Citizens Financial Group, Inc. has a 52-week low of $32.60 and a 52-week high of $49.25. 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 company has a market capitalization of $16.20 billion, a P/E ratio of 12.23, a P/E/G ratio of 0.81 and a beta of 0.81. The company has a fifty day moving average price of $40.07 and a 200-day moving average price of $43.46.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its earnings results on Wednesday, April 16th. The bank reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.02. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. As a group, analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.53%. The ex-dividend date is Wednesday, April 30th. Citizens Financial Group's dividend payout ratio (DPR) is presently 53.33%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Royal Bank of Canada cut their price target on shares of Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Stephens cut their price objective on shares of Citizens Financial Group from $53.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday, April 7th. Citigroup decreased 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. Raymond James reaffirmed a "strong-buy" rating and issued a $48.00 target price (down from $58.00) on shares of Citizens Financial Group in a report on Thursday, April 17th. Finally, Piper Sandler reduced their price objective 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. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.