Harvest Portfolios Group Inc. Decreases Stake in Citizens Financial Group, Inc. (NYSE:CFG)

Harvest Portfolios Group Inc. reduced its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 14.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,598 shares of the bank's stock after selling 23,045 shares during the period. Harvest Portfolios Group Inc.'s holdings in Citizens Financial Group were worth $5,733,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Innealta Capital LLC purchased a new position in Citizens Financial Group in the second quarter worth about $25,000. Catalyst Capital Advisors LLC purchased a new position in Citizens Financial Group in the third quarter worth about $28,000. Versant Capital Management Inc raised its holdings in Citizens Financial Group by 262.8% in the second quarter. Versant Capital Management Inc now owns 936 shares of the bank's stock worth $34,000 after buying an additional 678 shares during the last quarter. Private Ocean LLC raised its holdings in Citizens Financial Group by 484.4% in the second quarter. Private Ocean LLC now owns 1,011 shares of the bank's stock worth $36,000 after buying an additional 838 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new position in Citizens Financial Group in the second quarter worth about $48,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. UBS Group lifted their target price on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a "buy" rating in a report on Thursday, July 18th. DA Davidson lifted their price target on shares of Citizens Financial Group from $46.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. The Goldman Sachs Group lifted their price target on shares of Citizens Financial Group from $43.00 to $49.00 and gave the stock a "buy" rating in a research note on Thursday, July 18th. Piper Sandler lifted their price target on shares of Citizens Financial Group from $45.00 to $48.00 and gave the stock an "overweight" rating in a research note on Friday, July 26th. Finally, Morgan Stanley lifted their price target on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Monday, August 5th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $43.80.

Citizens Financial Group Stock Performance

NYSE:CFG traded up $6.09 during mid-day trading on Wednesday, hitting $48.31. 10,940,691 shares of the company traded hands, compared to its average volume of 5,344,652. The stock's fifty day moving average price is $41.50 and its 200-day moving average price is $38.79. Citizens Financial Group, Inc. has a one year low of $24.61 and a one year high of $48.35. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61. The firm has a market cap of $21.50 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 1.59 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, hitting analysts' consensus estimates of $0.79. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The business's quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 earnings per share. Research analysts anticipate that Citizens Financial Group, Inc. will post 3.19 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Wednesday, October 30th. Citizens Financial Group's dividend payout ratio (DPR) is 66.14%.

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.