Van ECK Associates Corp Sells 647 Shares of Citizens Financial Group, Inc. (NYSE:CFG)

Van ECK Associates Corp reduced its stake in Citizens Financial Group, Inc. (NYSE:CFG) by 10.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,683 shares of the bank’s stock after selling 647 shares during the quarter. Van ECK Associates Corp’s holdings in Citizens Financial Group were worth $249,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. State Street Corp increased its stake in Citizens Financial Group by 6.7% in the 3rd quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock worth $1,060,689,000 after buying an additional 1,615,144 shares in the last quarter. Wellington Management Group LLP increased its stake in Citizens Financial Group by 207.2% in the 3rd quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock worth $339,733,000 after buying an additional 5,579,313 shares in the last quarter. Nordea Investment Management AB increased its stake in Citizens Financial Group by 19.3% in the 4th quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank’s stock worth $217,781,000 after buying an additional 805,758 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Citizens Financial Group by 11.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,144,635 shares of the bank’s stock worth $129,150,000 after buying an additional 334,386 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in Citizens Financial Group by 51.1% in the 3rd quarter. Bank of Montreal Can now owns 2,644,542 shares of the bank’s stock worth $107,897,000 after buying an additional 894,322 shares in the last quarter. 94.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Piper Sandler raised their price objective on Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Truist Financial raised their price objective on shares of Citizens Financial Group from $49.00 to $54.00 and gave the stock a “hold” rating in a research note on Tuesday, January 21st. Compass Point lifted their price target on shares of Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group lifted their price target on shares of Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Citigroup lifted their price target on shares of Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Citizens Financial Group has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

Citizens Financial Group Stock Down 2.8 %

CFG opened at $44.87 on Monday. 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 business has a 50 day simple moving average of $45.79 and a 200-day simple moving average of $44.01. The stock has a market capitalization of $19.61 billion, a P/E ratio of 14.81, a P/E/G ratio of 0.81 and a beta of 1.10. Citizens Financial Group, Inc. has a 12 month low of $30.30 and a 12 month high of $49.25.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 earnings per share. On average, equities analysts anticipate that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current fiscal year.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.74%. The ex-dividend date was Friday, January 31st. Citizens Financial Group’s dividend payout ratio is currently 55.45%.

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.