Resona Asset Management Co. Ltd. purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 138,149 shares of the bank's stock, valued at approximately $6,043,000.
Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in Citizens Financial Group by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 10,929,591 shares of the bank's stock worth $477,043,000 after purchasing an additional 124,860 shares during the last quarter. Wellington Management Group LLP increased its stake in Citizens Financial Group by 27.8% in the 4th quarter. Wellington Management Group LLP now owns 10,570,083 shares of the bank's stock worth $462,547,000 after purchasing an additional 2,298,040 shares during the period. Norges Bank purchased a new stake in shares of Citizens Financial Group during the fourth quarter valued at approximately $243,431,000. Nordea Investment Management AB grew its holdings in shares of Citizens Financial Group by 19.3% in the fourth quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank's stock worth $217,781,000 after purchasing an additional 805,758 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Citizens Financial Group by 31.0% in the 4th quarter. Bank of New York Mellon Corp now owns 3,543,207 shares of the bank's stock worth $155,051,000 after buying an additional 839,041 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
CFG has been the topic of several research analyst reports. Stephens reiterated an "overweight" rating and set a $53.00 price target on shares of Citizens Financial Group in a research report on Wednesday, January 29th. Truist Financial decreased their price objective on Citizens Financial Group from $54.00 to $51.00 and set a "hold" rating for the company in a report on Friday, March 21st. Citigroup decreased their price target on shares of 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. Keefe, Bruyette & Woods boosted their price objective on shares of Citizens Financial Group from $53.00 to $56.00 and gave the stock a "market perform" rating in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. dropped their price target on 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. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $49.06.
Read Our Latest Analysis on CFG
Citizens Financial Group Price Performance
Shares of Citizens Financial Group stock traded up $0.51 during trading hours on Monday, reaching $35.33. The company's stock had a trading volume of 1,517,855 shares, compared to its average volume of 4,762,117. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.85 and a quick ratio of 0.85. Citizens Financial Group, Inc. has a one year low of $32.06 and a one year high of $49.25. The firm has a 50 day moving average price of $42.10 and a 200-day moving average price of $43.80. The stock has a market cap of $15.44 billion, a P/E ratio of 11.66, a P/E/G ratio of 0.81 and a beta of 0.81.
Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the company earned $0.85 EPS. The company's revenue for the quarter was down .1% on a year-over-year basis. On average, analysts predict that Citizens Financial Group, Inc. will post 3.92 EPS for the current year.
Citizens Financial Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date was Friday, January 31st. Citizens Financial Group's dividend payout ratio (DPR) is presently 55.45%.
About Citizens Financial Group
(
Free Report)
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.
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