Citizens Financial Group, Inc. (NYSE:CFG) Shares Acquired by Westpac Banking Corp

Westpac Banking Corp boosted its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG - Free Report) by 149.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,820 shares of the bank's stock after purchasing an additional 14,256 shares during the quarter. Westpac Banking Corp's holdings in Citizens Financial Group were worth $1,042,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CFG. D.A. Davidson & CO. purchased a new stake in Citizens Financial Group in the 3rd quarter worth $209,000. Centiva Capital LP raised its stake in Citizens Financial Group by 6.8% during the third quarter. Centiva Capital LP now owns 31,448 shares of the bank's stock worth $1,292,000 after purchasing an additional 1,993 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Citizens Financial Group in the third quarter valued at approximately $7,601,000. Investment Management Corp of Ontario lifted its stake in shares of Citizens Financial Group by 49.5% in the 3rd quarter. Investment Management Corp of Ontario now owns 15,103 shares of the bank's stock valued at $620,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Citizens Financial Group during the 3rd quarter worth $204,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CFG shares. Barclays increased their target price on shares of Citizens Financial Group from $47.00 to $52.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. Citigroup dropped their target price on shares of Citizens Financial Group from $58.00 to $51.00 and set a "buy" rating for the company in a report on Monday, March 24th. Morgan Stanley decreased 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. Truist Financial dropped their price objective 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, Compass Point increased their target price on Citizens Financial Group from $45.00 to $57.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $49.06.

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Citizens Financial Group Stock Up 9.0 %

Shares of NYSE:CFG traded up $3.10 during trading hours on Wednesday, reaching $37.50. The stock had a trading volume of 10,043,319 shares, compared to its average volume of 4,742,412. Citizens Financial Group, Inc. has a 1 year low of $32.06 and a 1 year high of $49.25. The firm's 50 day moving average is $42.58 and its 200-day moving average is $43.86. The stock has a market capitalization of $16.39 billion, a price-to-earnings ratio of 12.38, a P/E/G ratio of 0.81 and a beta of 0.81. 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 (NYSE:CFG - Get Free Report) last posted its earnings results on Friday, January 17th. The bank reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.96 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. Citizens Financial Group's revenue for the quarter was down .1% 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 predict that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 4.48%. The ex-dividend date was Friday, January 31st. Citizens Financial Group's dividend payout ratio (DPR) is presently 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.